A balanced budget is a financial plan where the total expenditures of an entity are equal to its total revenues or income. Another term for a balanced budget is a surplus budget, where the revenue generated exceeds the expenses incurred. Conversely, a budget that has more expenses than revenue is known as a deficit budget, negative budget, or unbalanced budget. Other synonyms for a balanced budget include equilibrium budget, level budget, and steady-state budget. It is worth noting that a balanced budget is regarded as a financially stable and optimal situation, especially for governments and businesses.