budgeting Definition
the process of planning and controlling how much money you spend or save.
Using budgeting: Examples
Take a moment to familiarize yourself with how "budgeting" can be used in various situations through the following examples!
Example
Effective budgeting can help you achieve your financial goals.
Example
Budgeting is an important skill to learn for managing your personal finances.
Example
The company's budgeting process involves analyzing past expenses and projecting future revenue.
budgeting Synonyms and Antonyms
Synonyms for budgeting
- financial planning
- money management
- expense control
Phrases with budgeting
Example
Family budgeting can help ensure that all necessary expenses are covered while also saving money for the future.
zero-based budgeting
a budgeting method where all expenses must be justified for each new period, rather than basing the budget on the previous period's expenses
Example
The company adopted zero-based budgeting to ensure that all expenses were necessary and efficient.
a budgeting method where cash is divided into envelopes for different categories of expenses, such as groceries or entertainment
Example
Envelope budgeting can help people limit their spending in certain categories and avoid overspending.
Summary: budgeting in Brief
Budgeting [ˈbʌdʒɪtɪŋ] is the process of planning and controlling how much money is spent or saved. It is a crucial skill for managing personal finances and business operations. Budgeting methods include zero-based budgeting, envelope budgeting, and family budgeting.
