INFORMATION:

Name: Anamica Ukirde

Class: 9th

Section: A

Roll No.: 76

Seat No.: 998

Introduction :The word budget is derived from the

French word ‘baguette’, which means a ‘small bag containing financial proposals’.

Types of Budget:

Surplus Budget

Deficit budget

Balanced budget

It takes place when the total income is more than its total expenditure.

It takes place when the total income of the family is lesser than total expenditure.

It takes place when total income of the family is equal to total expenditure.

It maintains the balance between income and expenditure of the family.

Some points to remember :-

• Your budget should be tailored as per your needs.

• Saving is necessary element of budget to overcome unexpected events.

• Don’t panic, if your expenses exceed the income. Revise your budget by reducing expenses.

• The budget should be reviewed from time to time.

1) Protects individuals from getting into financial problems.

2) Brings economic stability in life, if money is managed efficiently.

Budgeting is the basic step of financial planning for happiness in life.

Happy Life

3 steps to Happy life :

1) Remain away from worries and tensions.

2)Be stress free.

3)Maintaining your Budget.

Expenditure includes money spent on various good and services.

-Anamica Ukirde