budget
budget
Pronunciation
The IPA phonetic spelling for "budget" is /ˈbʌdʒɪt/.
Here's a breakdown of the sounds by syllable:
bud-: /bʌdʒ/ (buhj)
-get: /ɪt/ (it)
Word Form Variations
Noun:
Singular: budget
Plural: budgets
Verb:
Base form: budget
Third-person singular present: budgets
Present participle: budgeting
Past tense: budgeted
Past participle: budgeted
Definitions, Synonyms and Antonyms
Noun
A detailed plan of how money will be acquired and spent over a specific period. This plan typically outlines estimated income and expenditures, serving as a guide for financial management.
Synonyms: financial plan, spending plan, fiscal plan, estimate, allocation
Antonyms: extravagance, debt (in terms of a lack of planning)
The total sum of money allocated for a particular purpose or period. This refers to the actual amount of funds available or set aside.
Synonyms: funds, allowance, allocation, resources, means
Antonyms: deficit, shortfall, overspending
Verb
To plan and allocate money carefully. This involves creating a financial plan and making decisions about how funds will be used to meet expenses and achieve financial goals.
Synonyms: economize, plan, allocate, manage, ration, save
Antonyms: overspend, squander, waste, splurge, mismanage
Examples of Use
Books:
"The first rule of personal finance is to create a realistic budget and stick to it, no matter how tempting those impulse buys might be." (Ramit Sethi, I Will Teach You To Be Rich, March 2009)
"They had a tight budget for their documentary, relying heavily on volunteer camera operators and donated equipment." (Excerpt from The Filmmaker's Handbook by Steven Ascher and Edward Pincus, November 1999)
Newspapers:
"The city council approved a new budget yesterday that prioritizes infrastructure improvements and public safety." (The New York Times)
"Analysts are closely watching the government's annual budget announcement for clues about future economic policy." (The Wall Street Journal)
Online Publications:
"How to create a family budget that works for you: tips and tricks for managing household expenses." (Investopedia)
"Many travelers are looking for budget-friendly destinations that offer great experiences without breaking the bank." (Lonely Planet online)
Various Entertainment Mediums and Platforms:
Television (News/Documentary): "Tonight on '60 Minutes,' we investigate how a small town managed to balance its budget despite a significant economic downturn." (CBS News)
Film (Dialogue): "Look, we're on a very strict budget for this film, so every penny counts." (From the movie Knives Out)
Gaming: "Players often need to carefully budget their in-game currency for upgrades and new equipment to progress effectively." (A common theme in strategy and role-playing games, e.g., Stardew Valley)
Music (Song Lyrics): "Tightening up the budget, stretching every dime, trying to make it work, just one day at a time." (Excerpt from a country song, artist unknown, circa 2020s)
General Public Discourse:
"I really need to budget better if I want to save up for that new car." (Casual conversation)
"Our household budget got a little out of control last month, so we're cutting back on eating out." (Everyday discussion)
"The company had to budget for a significant increase in raw material costs this quarter." (Business meeting discussion)
10 Quotes Using Budget
"A budget tells us what we can't afford, but it doesn't keep us from buying it." (William Feather)
"The art of living is like a good manager. The goal is to make a large profit from a small budget." (Kagiso Msimango, The Money Book)
"Balancing the federal budget is like going to heaven. Everybody wants to do it, but nobody wants to do what you have to do to get there." (Phil Gramm)
"You don't have to be a rich person to have a good personal budget. You just have to be a smart person." (Dave Ramsey)
"A family budget is a financial plan that shows how you expect to earn and spend your money over a period of time." (Suze Orman)
"A nation's budget is a moral document." (attributed to Martin Luther King Jr., though often paraphrased)
"We're going to have a tight budget this year, but we'll make it work." (Common political discourse)
"My advice to the young is, 'never have a budget.' Do everything on the spur of the moment. That way, you'll always have money." (Humorous quote, source unknown)
"The first rule of thumb with any sort of budget is that it's going to change." (Clark Howard)
"A budget is not just a collection of numbers, but an expression of our values and priorities." (Jacob Lew)
Etymology
The word "budget" has a rather interesting journey through language!
It all started in Old French with the word "bougette," which was a diminutive of "bouge." "Bouge" meant a leather bag, pouch, or wallet. So, imagine a small leather bag that someone might carry their belongings in. This original meaning of a "small bag" or "pouch" is the first known use, appearing in English around the early 15th century (around 1432-1450).
Over time, this "bougette" started to refer not just to the bag itself, but to its contents. Think of it like a messenger carrying a bag full of important papers. Eventually, it came to mean the "bundle of papers" or "packet of news" within the bag. This is why some early newspapers even had "Budget" in their titles!
The shift to its current financial meaning, as a plan for money, happened later. In the 18th century (specifically 1733), in Britain, the term was used in a more formal financial sense to describe the Chancellor of the Exchequer's financial statement – essentially, the plans for the nation's income and expenses – which was metaphorically "opened" from his "bag."
So, from a simple leather bag, the word "budget" evolved to describe a collection of important papers, then a collection of news, and finally, the detailed financial plan we know today.
Phrases + Idioms Containing Budget
On a budget: To spend money carefully because you have a limited amount.
Stretch the budget: To try to make a limited amount of money last longer or cover more expenses than originally planned.
Blow the budget: To spend much more money than was planned or available.
Budget cut: A reduction in the amount of money available for something.
Budget crisis: A situation where a government or organization has severe financial problems due to lack of funds.
Balance the budget: To ensure that the amount of money spent is equal to or less than the amount of money earned.
Tight budget: A financial plan where there is very little money available, requiring careful spending.
Operating budget: The financial plan for the day-to-day running of a business or organization.
Capital budget: The financial plan for long-term investments, like buildings or major equipment.
Living within one's budget: To spend no more money than one earns.
Vocabulary-Based Stories from SEA
Source Information
Definition of budget from The Academic Glossary at Self Exploration Academy, a Urikville Press Publication. © All rights reserved.
