What is the difference between a budget and a financial projection? o Financial projections are plans of how to use money; budgets are used to determine how much money will be needed in the future. O Budgets and financial projections are used for the same purpose, but budgets are for non-profit organizations and financial projections are used by private businesses. Budgets are plans of how to use money, and financial projections are predictions about future financial situations. О о O Financial projections are based on the future; budgets are based on the past.