Question

What do you mean by Budget?  Suppose you are going to enjoy your summer holidays in France. Make an expected budget keeping in mind all of your requirements.

Answer 1

A budget can be defined as a financial plan for a specified future period of time to spend your money; and can be made for an individual, a group, a government, or a business. If I plan to enjoy my summer holidays in France with my family I will plan ahead and make a budget to ensure that it does not turn into an expensive vacation. The family travelling together for two weeks in France will usually have a lower daily budget per person than an individual travelling alone for one week. I want a low-cost airline options from the US to France, thus will prefer to book my airline tickets several months ahead as it will get me a good fare. The food items price in France in sit-down restaurants is often more than fast food prices or street food prices; thus would prefer the same, and would allow us to explore new places at cheap prices. I have set an average budget of €40 per meal for my family. Also €6 per day has been allocated for the bottled water. In my budget I have allocated €122 per day for the accommodation. I am fixing €23 per person, per day, for the local transportation in France. For the entertainment I have given a budget of €50 per person, per day. I have also allocated €175 for a special dinner on river cruise.