Question

What role does budget play in planning?

Answer 1

Budgeting is used to help you spend the right amount of money you want. So, lets say you plan to buy a house your budget is 100,000. 100,000 is the amount of money you want to spend on buying that house. Budgeting plays a major role in planning it helps you not spend and not go over board on buying something. To sum up, the role budgeting plays in planning is to "make sure you don't spend over the amount of money you want to spend on something, it's your limit when dealing with the amount of money you want to spend."

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Answer 2

your budget is there to tell you how much you have to spend in a set amount of time like say a month so you have a monthly budget set up based on your income from all sources that are permanent. if you make 1300 every few months you cannot use that to set up your budget you must use what you make month to month so say you make $900-$1000 a month with varying overtime so you could then set a certain amount aside for rent, insurance etc. the what you have left after determining those factors is what you have left to spend on essential needs such as food clothing etc. which once you have that calculated out you could then compile everything you have found and you would have your budget plan

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