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budget

IPA

How to pronounce budget (audio)

Dictionary Definition of 'budget'

A financial plan or estimate that outlines the expected income and expenses of an individual, organization, or government entity over a specific period.
"My monthly budget helps me track my expenses and stay within my financial limits."

Detailed Meaning of 'budget'

It serves as a guiding tool for managing and allocating financial resources effectively. A budget typically includes detailed information on projected revenues, such as income from various sources, and anticipated expenditures, such as expenses for necessities, investments, or discretionary items. By setting financial limits and goals, a budget enables individuals and entities to make informed decisions about spending, saving, and investing, thereby maintaining financial stability and achieving desired outcomes. Effective budgeting involves careful consideration of priorities, balancing income and expenses, and making adjustments as necessary to ensure financial sustainability and optimize resource allocation.

Examples of 'budget' in a Sentence

1. The government is currently working on a new budget for the upcoming fiscal year.
2. They had to cut their travel budget due to unexpected expenses.
3. Our marketing team presented a budget proposal for the upcoming advertising campaign.
4. The company's budget for employee training has been increased to enhance skill development.
5. I need to review my budget before deciding on a vacation destination.
6. The school board approved a budget increase to improve educational resources.

History and Etymology of 'budget'

The noun 'budget' finds its etymological roots in the Old French word 'bougette,' which referred to a small bag or pouch. This Old French term was derived from the Latin 'bulga,' meaning a leather bag or pouch. Over time, the meaning of 'budget' evolved to represent a financial plan or estimate, likely due to the practice of keeping financial records or plans in small bags or pouches during medieval times. Thus, the contemporary concept of a budget as a comprehensive financial plan detailing expected income and expenses emerged from these historical associations with pouches and bags.

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Quiz Categories Containing 'budget'

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eb68db_c5a35f4bac8e45e0be3d1d7d43512f0f.mp3

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