budget-planning

Vocabulary Word

Definition

'Budget-planning' is a thoughtful way of spending. You plan what amount to spend on what thing, like planning for groceries, rent, or vacation. It helps you use money responsibly.

Examples in Different Contexts

For event organization, 'budget planning' involves estimating costs and allocating funds for various aspects of the event. An event organizer might say, 'Detailed budget planning ensures that we can cover all expenses from venue rental to guest speakers.'

Practice Scenarios

Tech

Scenario:

With ongoing developments in our field, we need to be prepared for potential system upgrades and expansions. That might affect our financial outline.

Response:

I agree, our budget-planning needs to include possible system upgrades and expansions.

Marketing

Scenario:

We're experiencing an industry-wide shift towards digital marketing. It's time we revisit our financial plans to accommodate this change.

Response:

It's worth exploring. Let's make necessary changes in our budget-planning to boost our digital marketing initiatives.