(08-06-2017, 10:39 AM)jaseela123 Wrote:

A personal budget or a budget for the home is a financial plan that allocates future personal income to expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget. There are several methods and tools available to create, use and adjust a personal budget. For example, jobs are a source of income, while bills and rent payments are expenses.


A budget allocates or distributes the expected income to expected expenditures and expected savings. The following example illustrates how revenue can be allocated.