Budgeting

Understanding how to create and manage a budget by tracking income and expenses.

What is a personal budget?

"A personal budget (for the budget of one person) or household budget (for the budget of one or more person living in the same dwelling)..."

Who does a personal budget apply to?

"...is a plan for the coordination of the resources (income) and expenses of an individual..."

Who does a household budget apply to?

"...or a household."

What does a personal budget coordinate?

"...the coordination of the resources (income) and expenses..."

What is the purpose of a personal budget?

"...of an individual or a household."

What does a household budget coordinate?

"...the coordination of the resources (income) and expenses of an individual or a household."

Can a personal budget involve multiple people?

"...household budget (for the budget of one or more person living in the same dwelling)..."

How many people typically live in a household budget?

"...one or more person living in the same dwelling..."

What resources does a personal budget coordinate?

"...the coordination of the resources..."

What expenses does a personal budget coordinate?

"...and expenses..."

Can a household budget involve only one person?

"...(for the budget of one or more person living in the same dwelling)..."

Can a personal budget include income and expenses?

"...the resources (income) and expenses..."

What aspects of an individual's life does a personal budget cover?

"...of an individual..."

What aspects of a household's life does a household budget cover?

"...or a household."

Can a personal budget be tailored to an individual's needs?

"...of an individual or a household."

Can a household budget be tailored to a household's needs?

"...of an individual or a household."

Can a personal budget help with financial planning?

"...plan for the coordination of the resources (income) and expenses..."

Can a household budget help with financial planning?

"...plan for the coordination of the resources (income) and expenses of an individual or a household."

What is the difference between a personal budget and a household budget?

"A personal budget (for the budget of one person) or household budget (for the budget of one or more person living in the same dwelling)..."

What is the purpose of coordinating resources and expenses in a personal or household budget?

"...is a plan for the coordination of the resources (income) and expenses of an individual or a household."