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TeachMeFinance.com - explain budget Budget: a detailed record of all income earned and spent during a specific period of time. another definition... budget -- an itemized listing, usually prepared annually, of anticipated revenue and projected expenses. historic definition... Budget -- English ; an estimate of (statement of probable) revenues and expenditures by the government in the ensuing year, with financial proposals in connection therewith, such as measures for meeting a deficiency or measures for disposing of a surplus. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.