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Budgeting

Last Updated: February 20, 2007 Related resource areas: Personal Finance


A budget is a plan for spending income expected to be received within a specific time. Revising estimates for both income and expenses is necessary periodically. When budgeted expenses exceed budgeted income, three alternatives are recommended: earn more income, cut back expenses, or a combination of the two.


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CoP, Financial Security: Budgeting

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