Balanced Budget
Definition: A "balanced budget" is a financial plan where the amount of money you spend (expenditures) is equal to the amount of money you earn (receipts). This means you do not spend more money than you have.
Usage Instructions: You can use "balanced budget" when talking about personal finances, businesses, or government spending. It's often seen in discussions about managing money wisely.
Example: - "After careful planning, Sarah was happy to report that she had created a balanced budget for her monthly expenses."
Advanced Usage: - In government discussions, a balanced budget is often seen as a sign of good financial health. Some people believe that governments should always aim for a balanced budget to avoid debt.
Word Variants: - Budget (noun): The plan for how much money you will spend and earn. - Balance (verb): To make sure that spending and income are equal.
Different Meanings: - In a different context, "balance" can mean stability in other areas, such as work-life balance (having a good amount of time for work and personal life).
Synonyms: - Even budget - Equitable budget - Financial equilibrium
Idioms and Phrasal Verbs: - "Keep the books balanced": This means maintaining a balanced budget or ensuring that income and expenses are equal. - "In the black": This idiom means having a positive financial situation, or having more income than expenses (the opposite of a balanced budget).
Overall, a balanced budget is important for financial stability, whether in personal life, business, or government.