noun an estimate of income and expenditure for a set period of time
verb to plan or allocate funds according to a budget
Budgeting is the process of creating a plan to manage income and expenses.
Businesses create budgets to forecast financial performance and allocate resources.
Educational institutions create budgets to allocate funds for programs and resources.
Governments create budgets to allocate funds for public services and projects.
Project managers create budgets to estimate costs and monitor expenditures.
Nonprofits create budgets to plan and monitor funding for their initiatives.
Individuals use budgets to track spending and savings goals.
Writers may need to work within a budget when creating content for clients, such as sticking to a certain word count or adhering to a specific project budget.
Psychologists may need to consider budget constraints when planning research studies, purchasing equipment, or offering services to clients who have financial limitations.
Architects must work within a budget when designing buildings or structures, ensuring that the project stays within the allocated funds for materials, labor, and other expenses.
Event planners need to create and manage budgets for various events, including weddings, corporate functions, or conferences, to ensure that all aspects of the event are planned and executed within financial constraints.
Marketing managers are responsible for developing and implementing marketing campaigns within a budget, allocating funds for advertising, promotions, and other marketing activities to achieve the desired outcomes while staying within financial limits.