Budget is the amount of money set aside for planned expenses. It is a plan specifying how much money will be spent or allocated during a particular period.
Budgeting
This is related to the wise use of family resources. It is based on the system by which wages or salaries are received and how these are to be spent by itemizing the needs of the family and how much money is needed to meet such needs.
Basic Needs
are things required by people to be able to survive.
Food, water,shelter, and clothing
These needs are provided by parents to their children since birth, to keep them alive.
Security and safety needs.
The parents provide security and the safety needs of their children to make them comfortable and to keep them free from fear. These include health care and education.
Social Needs - are things that help us feel a sense of belonging and acceptance.
