budget

I UK [ˈbʌdʒɪt] / US [ˈbʌdʒət] noun [countable]
Word forms "budget":
singular budget plural budgets
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1)

a) the amount of money a person or organization has to spend on something

Two-thirds of their budget goes on labour costs.

Try to work out a monthly budget and stick to it.

All schools are expected to manage their own budgets.

on/within budget (= spending only as much money as you have):

So far the project is more or less on budget.

over/under budget (= over or under the amount you have to spend):

The film is already way over budget.

a tight budget (= a small amount of money):

They run the magazine on a pretty tight budget.

b) the amount of money a government has to spend

education/health/defence etc budget:

There will be no further increase in the education budget.

budget deficit (= the amount of money spent compared with the smaller amount that was available):

The budget deficit needs to be reduced by some £12 billion.

2) the Budget a statement about the financial position of the UK, given in a speech to Parliament every year and including details about future changes to taxes and public spending

II UK [ˈbʌdʒɪt] / US [ˈbʌdʒət] verb [intransitive]
Word forms "budget":
present tense I/you/we/they budget he/she/it budgets present participle budgeting past tense budgeted past participle budgeted
*

to plan the way you will spend the money you have, especially so that you do not spend too much

As a student, you have to learn how to budget.

III UK [ˈbʌdʒɪt] / US [ˈbʌdʒət] adjective [only before noun]

very cheap

high quality goods at budget prices

a budget hotel