Question

What is budgeting Explain in your own word?

Answer 1

Giving yourself a certain amount that one can spend.

Explanation: Here is an example " I can't buy that due to my budget."

Answer 2

Budgeting is a process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan it allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income. For example, jobs are an income source, while bills and rent payments are expenses.