B2noun 1K

Budget

UK //ˈbʌdʒɪt// US //ˈbʌdʒɪt// Pronunciation

Definition

A financial plan that outlines expected revenue and expenses.

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In simple words: A plan for how to spend money.

Examples

• She created a **budget** for her wedding expenses.
• The annual **budget** was approved by the city council.
• It's essential to stick to a **budget** to avoid overspending.
• He always has a strict **budget** when traveling.
• The first step to financial freedom is to understand your **budget**.

Usage notes

Used in personal, business, and governmental contexts. It may sound formal in casual conversations.

Listen to usage notes

Grammar pattern

standalone noun

Memory hint

Think of 'budget' as 'bag it' - you're bagging your money and deciding how to use it.

Collocations

• set a budget
• within budget
• annual budget

Synonyms

• financial plan
• estimate
• allocation

Antonyms

• splurge
• excess

Common mistakes

• Confused with 'budgeting', which is the action of creating a budget.
• Using 'budget' as a verb incorrectly.
• Forgetting to pluralize when referring to multiple budgets.