Budgeted: meaning, definitions and examples
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budgeted
[ ˈbʌdʒɪtɪd ]
financial planning
The term 'budgeted' refers to the act of allocating funds for specific purposes or projects within a planned budget. It is a crucial process for individuals and organizations to manage their finances efficiently, ensuring that spending does not exceed income. A budgeted amount represents a predetermined financial plan that helps guide spending decisions. Properly budgeted resources can lead to better financial health and long-term planning.
Synonyms
allocated, designated, planned
Examples of usage
- We budgeted $500 for the event.
- She budgeted her monthly expenses carefully.
- The project was budgeted to avoid overspending.
Word origin
The word 'budget' has its origins in the early 14th century, derived from the Old French word 'bougette', meaning 'a small purse'. The connotation relates to the management of financial resources that one can carry in their purse. Over the years, the term evolved to encompass the broader concept of financial planning and allocation of funds. By the 18th century, 'budget' was officially recognized in finance as a formal document outlining expected income and expenditures. The term 'budgeted' thus emerged, reflecting the active process of planning and controlling financial resources. Today, budgeting is essential in various fields, including personal finance, business management, and public sector resource allocation.