New words – 25 September 2023

image of banknotes sticking out of three green buckets marked with dollar signs – representing the concept of bucket budgeting
Zargon Design / E+ / Getty

bucket budgeting noun [U]
/ˈbʌk.ɪt ˌbʌdʒ.ɪtɪŋ/
a way of organizing your finances that involves saving money in a different bank account for each type of bill or purchase

“Bucket budgeting”, sometimes referred to as “bucketing”, is basically a modern version of “envelope budgeting”. The key difference between the two is that with bucket budgeting, instead of setting aside cash in envelopes for regular spending, you set up targeted savings accounts for various savings goals.
[, 26 January 2022]

bougie broke adjective
UK /ˌbuː.ʒi ˈbrəʊk/ US /ˌbuː.ʒi ˈbroʊk/
not having as much money as you want, but still able to buy and do relatively expensive things (see bougie)

A new guide on embracing a “bougie broke” lifestyle — a personal finance trend crafted as a humorous yet critical response to the cost of living crisis — has stirred a cocktail of amusement and ridicule online. The “bougie broke” trend originated from TikTok, where users bemoaned about how broke they were while pursuing a luxury lifestyle.
[, 27 July 2023]

financial cleanse noun [C]
/faɪˌnæn.ʃəl ˈklenz/
a detailed examination of your finances to identify ways of saving money and spending less

Self-styled financial influencers are giving Gen Zers some much-needed advice, touting a month-long “financial cleanse” as the ultimate way to whittle down spending in 2023. Seema Sheth, who coined the “30-day financial cleanse,” boasts her method as a way to cut down on unnecessary costs and ensure more money in your pockets this year.
[, 3 January 2023]

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