Budget

Definition

Budget is a noun, adjective, and verb. As a noun, it refers to an estimate of income and expenditure over a specified period. As a verb, it means to plan or allocate financial resources. As an adjective, it describes something that is economical or low-cost.

Parts of Speech

• Noun
• Verb
• Adjective

Pronunciation

American English

• IPA Pronunciation: /ˈbʌdʒɪt/
• Respelling: BUH-jit

British English

• IPA Pronunciation: /ˈbʌdʒɪt/
• Respelling: BUH-jit

Etymology

The word "budget" originates from the Middle English "bowgett" or "bogett," meaning a leather pouch or small bag. It comes from the Old French "bougette," a diminutive of "bouge," meaning "leather bag." In the 18th century, "budget" evolved to mean a financial plan or estimate, as the Chancellor of the Exchequer would carry a "budget" containing proposals for public spending.

Derivatives

• Budgetary (adjective)
• Budgeter (noun)
• Overbudget (adjective/verb)
• Budgeting (noun/verb)
• Underbudget (adjective/verb)

Synonyms

• Plan
• Allowance
• Financial forecast

Antonyms

• Overspend
• Extravagance
• Deficit

Usage

The noun "budget" is commonly used to refer to a financial plan, as in "The department has a limited budget for the project." As a verb, it refers to the act of planning finances, for example, "They need to budget for the upcoming trip." As an adjective, it denotes a lower-cost option, such as "a budget hotel."

Related Terms

• Finance: The management of large amounts of money, especially by governments or large companies.
• Expenditure: An amount of money spent.
• Revenue: The income generated by a business or organization.

Detailed Definitions

Noun

• A financial plan for managing income and expenses: Refers to a detailed estimate of expected income and costs over a specific period.
  • Example: "The school’s annual budget was approved by the board."

Verb

• To allocate financial resources for a particular purpose: Describes the act of planning or setting aside funds for future use.
  • Example: "We need to budget carefully for the renovations."

Adjective

• Economical or low-cost: Used to describe products or services that are less expensive.
  • Example: "They booked a budget airline for their holiday."