A budget in general is a detailed plan of operations for some specific future period. Budget helps to plan and control the income and expenditure. There is a close relationship between the family income and the expenditure on clothing.
An individual who lives within a planned budget is usually happier, more contended than the one who spends one’s money as one earns it.
· Budgeting helps a household to spend money carefully.
· It is an intelligent guide to spending wisely.
· It balances the future and the present wants, making suitable allocations for spending and saving.
· Money is the major factor that either supports or inhibits any interest. When sufficient amount is available naturally, they express higher interest in fashion.