I. bud ‧ get 1 S1 W2 /ˈbʌdʒət, ˈbʌdʒɪt/ BrE AmE noun [countable]
[ Date: 1400-1500 ; Language: Old French ; Origin: bougette 'small leather bag' , from bouge 'leather bag' , from Latin bulga ; from the idea of bringing your spending plan out of its bag ]
1 . the money that is available to an organization or person, or a plan of how it will be spent
budget of
a welfare program with a budget of $2 million
budget for
The budget for photography has been cut.
We had a really tight budget.
on/within budget (=not using more money than planned)
The project was completed within budget.
under budget (=using less money than planned)
If you come in under budget, everyone will be very impressed.
over budget (=using more money than planned)
Feature movies always run over budget.
2 . on a budget if you are on a budget, you do not have much money to spend:
Travellers on a budget might prefer to camp.
a book which offers great ideas for decorating on a budget
families on a tight budget
3 . ( also Budget ) British English an official statement that a government makes about how much it intends to spend and what taxes will be necessary
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COLLOCATIONS
■ ADJECTIVES/NOUN + budget
▪ an annual/monthly/weekly budget
The organization has an annual budget of $24 million.
▪ the national/federal/state budget
He has a plan to balance the federal budget.
▪ the defence/education etc budget
We had to make cuts in the defence budget.
▪ the family/household budget
Often the husband and wife contribute equally to the family budget.
▪ a big/large budget
The club does not have a large budget for new players.
▪ a small/low/limited budget
It was a project with a low budget.
▪ a tight budget (=small and limited)
Most young people have to live within a tight budget.
▪ a fixed budget
Our clients usually have a fixed budget.
▪ a shoestring budget (=a very small budget)
The film had been made on a shoestring budget.
▪ a total budget
The National Institute of Health had a total budget of $11. 3 billion.
▪ an overall budget (=total)
There has been an increase in the overall budget made available by the Government for training.
■ verbs
▪ have a budget
Hospital caterers have a budget of about £20 per person per week.
▪ overspend your budget
The Metropolitan Police has overspent its budget by £70 million.
▪ keep within a budget (=spend only the money that is available)
Further cuts are needed in order to keep within the budget.
▪ balance the budget (=spend only the money that is available)
the importance of balancing the budget and cutting taxes
■ budget + NOUN
▪ a budget deficit (=when a government has spent more money than it has)
The country has a budget deficit of over $4 billion.
▪ a budget surplus (=when a government has more money than it spends )
A huge budget surplus of over £16 billion was recorded.
▪ budget cuts (=reductions in the amount of money that is available)
The department has suffered severe budget cuts.
II. budget 2 BrE AmE verb [intransitive and transitive]
1 . to carefully plan and control how much money you spend and what you will buy with it:
We’ll have to budget more carefully.
This scheme enables you to budget the cost through fixed monthly payments.
budget for
We’ve budgeted for a new car next year.
2 . if you budget something such as time, you decide how much of it you will need
—budgeting noun [uncountable]
III. budget 3 BrE AmE adjective [only before noun]
1 . very low in price – often used in advertisements SYN cheap :
budget flights
2 . low-budget/big-budget used for saying how much money has been spent on doing something, especially making a film:
low-budget movies
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THESAURUS
▪ cheap costing very little money, or less than you expected:
My shoes were really cheap – they only cost £25.
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The cheapest way to get to Chicago is to take the bus.
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cheap flights
▪ low low prices, rents, and fees do not cost a lot of money. Do not use cheap with these words:
Why is the share price so low?
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You could get equally good accommodation elsewhere at a lower rent.
▪ inexpensive especially written not expensive – use this especially about things that are of good quality, even though they do not cost a lot:
The furniture is inexpensive, but well made.
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a simple inexpensive meal
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a hotel that offers air-conditioned rooms at relatively inexpensive prices
▪ reasonable a reasonable price seems fair because it is not too high:
The restaurant serves good food at reasonable prices.
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Only £25 a night? That sounds reasonable.
▪ economical cheap because you do not need to use a lot of money or fuel:
an economical car
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It is usually more economical to buy in large quantities.
▪ affordable cheap enough for most people to be able to buy or pay for:
affordable housing
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Single mothers often have trouble finding affordable childcare.
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The shop sells designer fashions at affordable prices.
▪ competitive competitive prices and rates are as low as those charged by other shops or companies:
I think you’ll find our prices are extremely competitive.
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The hotel offers a high standard of service at very competitive rates.
▪ budget [only before noun] budget flights, airlines, hotels etc have specially low prices:
You can get a budget flight to Amsterdam for only £19.
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a list of budget hotels for under $50 a night
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budget accommodation for families with young children
▪ be good/great value to be worth at least the price you pay for it, so that you feel pleased and think you have spent your money well:
The meals at Charlie’s Pizza are really good value.
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The holiday is great value for money.
▪ be a bargain informal to be extremely cheap:
I got this shirt when I was in Indonesia. It was a real bargain.