A budget rations resources during a certain time period. Budgets are used by many different groups and in many ways. Families, schools, governments, businesses, and large and small organizations budget money so they will be able to pay all of their expenses.
People also budget other resources such as time, food, gasoline, water, and energy.
Graphs are a good way to illustrate how resources are budgeted. For example, a line graph might show the use of a single resource over time. A bar graph compares annual revenue and spending over a number of years. A pie graph illustrates what percent of the entire resource is used for various expenses. Plan a budget for a group traveling from your city to a city in Kenya or Malawi.