Definition, Meaning & Synonyms
allocate-a-budget
Phrase
/ˈæl.ə.keɪt ə ˈbʌdʒ.ɪt/
Definition
To designate a specific amount of money for a particular purpose within a financial plan.
Examples
- Before starting a new project, it’s essential to allocate a budget to avoid overspending.
- The manager decided to allocate a budget for employee training programs this year.
- She learned to allocate a budget effectively to save for her vacation.
Meaning
Allocating a budget involves determining how much money will be spent and for what purposes, ensuring resources are used efficiently.
Synonyms
- Assign funds
- Set aside money
- Designate resources
