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Yearly Budget 

Meaning

A yearly budget refers to a financial plan that outlines how much money you  expect to earn and how much you plan to spend over the course of a year.


Example :

For example, if you anticipate earning ₹6,00,000 in a year and expect to spend  ₹4,80,000, this plan is known as your yearly budget.


How to Understand : 

A yearly budget acts like a roadmap for your finances, guiding you on how to allocate  your income throughout the year.


Importance :

1. It helps you control your spending by setting limits on how much you can use.
2. A budget prevents overspending and minimizes financial stress.
3. It supports your saving goals by allowing you to plan for future expenses.
4. A yearly budget helps you track your income and expenses, ensuring you stay on top of
your finances.

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