PLANNING A

HOME BUDGET
 INTRODUCTION
A budget is an estimation
of revenue and expenses over a specified
future period of time; it is compiled and re-
evaluated on a periodic basis. Budgets can
be made for a person, a family, a group of
people, a business, a government, a
country, a multinational organization or just
about anything else that makes and spends
money. At companies and organizations, a
budget is an internal tool used by
management and is often not required for
reporting by external parties.
TYPES OF BUDGET
1. Sales budget: A sales budget estimates
the sales in units as well as the estimated
earnings from these sales . Budgeting is
important for any business. Without a
budget companies can’t track process or
improve performance.
2. Production budget: A production budget
is a financial plan that lists the number of
units to be manufactured during a period
. In other words, this is a report that
estimates the number of units that a
plant will produce from period to period .
3. Capital budget: Capital budget is used to
determine whether an organization's
long-term investments such as new
machinery, replacement machinery, new
plants, new products, and research
development projects are worth
pursuing.
4. Revenue budget: Revenue budget
consists of revenue receipts of
government and the expenditure met
from these revenues. Tax revenues are
made up of taxes and other duties that
the government levies.
PERSONAL BUDGET
A personal budget or home budget is
a finance plan that allocates future
personal income towards expenses, savings
and debt repayment. Past spending
and personal debt are considered when
creating a personal budget. There are
several methods and tools available for
creating, using and adjusting a personal
budget. For example, jobs are an income
source, while bills and rent payments are
expenses.
HOME BUDGET FOR
GUPTA FAMILY
 Family’s name : Gupta’s
 No. of Family members : 4
 No. of earning members : 1
 Maid : 1 (part–time)
 No. of children studying : 2
 No. of mobile phones : 3
 No. of Vehicles : 2 ( 1 four wheeler , 1
two wheeler )
 House owned
 Designation of earning members :
Father: Businessman
 FOR THE MONTH OF
JANUARY
Category Amount
Total income 70000
Taxes 10000
Actual income 60000
House maintenance 3000
Grocery + fruits + 8000
vegetables
Milk 1500
Electricity + water 4000
Conveyance 500
Clothing 2500
School fees 8500
Entertainment 2000
Automobile 2500
Mobiles 1000
Maid 1000
Repairs 1000
Travelling 1500
Laundry 500
Shopping 2000
Stationary 500
Medical 2000
Grand total 42000
Savings 18000
Yearly savings 216000
 BAR GRAPH
9000

8000

7000

6000

5000

4000

3000

2000

1000

0
 CONCLUSION
By doing this project I got information on
“Various types of bank accounts and rate of
interest offered” and “planning a home
budget”. I got information about types of
bank accounts, formula to calculate rate of
interest, types of budget, what is personal
budget, etc.
 BIBLIOGRAPHY
I visited on:
www.meritnation.com
www.wikipiedia.com
www.scribed.com
and taken information from various books .