budget etymology

Etymology:

• Middle English: "bouget," from Anglo-Norman "bougette," meaning "a leather bag or pouch"
• Ultimately derived from Old French "bouge," meaning "to bulge or swell"

Meaning:

A budget is a financial plan that estimates the revenue and expenses of a particular period, usually a month, quarter, or year. It is used to track income and expenses, allocate resources, and make informed financial decisions.

Origin:

The concept of a budget has its roots in ancient civilizations. In Mesopotamia, around 2000 BC, written records show that temples kept detailed accounts of income and expenses to manage their finances. In ancient Egypt, the Pharaohs used budgets to plan for large-scale construction projects, such as the pyramids.

In the Middle Ages, monasteries and other religious institutions developed budgets to manage their resources. The term "budget" itself originated in England in the 14th century, referring to a leather bag used by the Chancellor of the Exchequer to carry the official financial documents.

By the 19th century, the concept of budgeting had become widely adopted by businesses and governments. In the early 20th century, personal budgeting became popular as a way for individuals to manage their finances and plan for the future.

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