Balanced budget

A balanced budget is when you have the same amount of money going out (expenses) as you have coming in (revenue). It’s like having a piggy bank where you put in a certain amount of money each week, and then you can only spend that same amount of money each week. This way, you don’t spend more than you have and you don’t end up owing anyone any money. A balanced budget is important because it helps you stay on track with your money and make sure you don’t overspend.