Fixed budget is a form of financial management and planning where you assign a predetermined amount of funds to be specifically used for a certain project or service. Essentially, it’s a set-it-and-forget-it approach to budgeting; once the money is allocated, you can count on it being available and ready to cover your costs. This type of budgeting helps businesses and organizations stay organized and keep their costs under control since they won’t be able to go over budget and risk wasting money. Plus, with a fixed budget in place, you have the assurance that you won’t be surprised by any unexpected costs or expenses along the way.