Finance & Banking

Budget

ˈbʌdʒɪt

noun/verb

What does Budget mean?

A plan for income and spending.

Example sentence

"We budget $600 a month for groceries."

American usage tip

The 50/30/20 rule: needs/wants/savings.

Related Finance & Banking words

401(k)
An employer retirement account with tax benefits.
IRA
Individual Retirement Account.
Credit limit
The maximum you can borrow on a card.
Interest rate
The cost of borrowing or reward for saving.
Credit history
Your record of borrowing and repaying.
Withholding
Tax taken from each paycheck automatically.
Direct deposit
Salary paid electronically into your account.
Vesting
Earning full ownership of employer contributions over time.

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