Homonym: tight budget (Economics)
A "tight budget" refers to a financial plan that has limited funds available for spending. This situation often arises when income is low or expenses are high, making it necessary to prioritize essential needs over wants. Individuals, families, or organizations may find themselves in this position, requiring careful management of their finances.
When operating on a tight budget, people often track their spending closely and look for ways to cut costs. This may involve reducing discretionary expenses, such as dining out or entertainment, and focusing on necessities like housing, food, and utilities. Effective budgeting can help maintain financial stability even in challenging circumstances.