Meaning & Definition of word "Budget"

Budget

/ˈbʌdʒɪt/

1. An estimate of income and expenditure for a set period of time.
- Example: The government announced its budget for the upcoming fiscal year.
2. A plan for the conservation of resources.
- Example: She kept a strict budget to save for her vacation.
3. The amount of money allocated for a particular purpose.
- Example: The marketing department has a larger budget this year.

1. To plan the allocation of resources, especially money.
- Example: We need to budget our expenses more effectively.
2. To allocate funds for a specific purpose.
- Example: The charity plans to budget funds for the new community center.

From Middle English 'budget', meaning 'a small bag'.

on a budget:

Limited by financial constraints.

budget cuts:

Reduction in the amount of money allocated.

living within one's means:

Spending less than or equal to income.

finance:

The management of large amounts of money.

expense:

The cost incurred in an activity.

allocation:

The distribution of resources or duties.

Meaning: To make do with limited funds.

Example Sentence: We're going to have to budget hard this month.

Meaning: To prioritize spending.

Example Sentence: You need to budget for your purchases.