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Expense budget planning is an important part of any budget. An expense budget is a list of forecasted expenses within a set amount of time. An expense budget could cover a quarter, an entire year or just a month.
A balanced budget simply refers to a budget in which expenses do not exceed revenues. This term can be used with any entity's budget, such as that of a business, nonprofit organization or even a family. However, the term is most often associated with a government budget. A successfully balanced budget demonstrates a measure of fiscal health, showing a level of spending that remains in step with costs.