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9 February, 08:08

What are the similarities and differences between balancing a city budget and balancing a personal budget?

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  1. 9 February, 10:52
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    Some similarities are that:

    - you need to make sure you don't spend more than you earn

    -you can only estimate how much you'll earn, but if something goes wrong, you might actually earn less

    -if you need to spend more than you earn or before you earn it, you might be able to borrow a little, but not too much

    Some differences are:

    -a personal budget is smaller than a city budget

    -a personal budget will not cause inter-personal conflict

    -many people will try to demand spending in a city budget, while all you spend on your personal budget is yours
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