Business Finance Terminology

noun an estimate of income and expenditure for a set period of time

verb to plan or allocate funds according to a budget

• The company needs to adhere to a strict budget in order to stay profitable.
• Let's make sure we don't overspend and stick to our budget.
• I'm on a tight budget this month, so I can't afford to go out to eat.
• His creativity knows no bounds when it comes to working within a limited budget.

noun a word that represents a person, place, thing, or idea

verb a word that expresses an action, occurrence, or state of being

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

article a word that specifies a noun (e.g. the, a, an)

• The government decided to cut the purse strings on non-essential spending in order to reduce the budget deficit.
• My parents finally decided to cut the purse strings and stop giving me money for unnecessary expenses.
• I think it's time for you to cut the purse strings and start paying for your own bills.
• It's important to cut the purse strings and become financially independent at some point in your life.

noun Opex refers to operating expenses, which are the costs associated with running a business on a day-to-day basis. These expenses include things like rent, utilities, salaries, and supplies.

• The company is looking for ways to optimize opex to improve profitability.
• We need to cut down on opex if we want to save more money.
• Let's find some shortcuts to reduce opex and increase our bottom line.
• Managing opex is like navigating a maze - you have to find the most efficient path to reach your goal.