A personal budget is a finance plan that allocates future personal income towards expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget. There are several methods and tools available for creating, using and adjusting a personal budget.
Because recent studies show that less than half (43%) of US households currently have savings, (i.e. they are just "making ends meet"), funds should also be allocated toward savings.
Read more about Personal Budget: Sample Budget, Tools, Concepts, Allocation Guidelines, Following A Budget, See Also
Famous quotes containing the words personal and/or budget:
“The personal right to acquire property, which is a natural right, gives to property, when acquired, a right to protection, as a social right.”
—James Madison (1751–1836)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)