预算 (yù suàn) means 'budget' — a planned estimate of income and expenses for a specific period or purpose. The first character 预 (yù) means 'in advance' or 'pre-', and the second 算 (suàn) means 'to calculate' or 'computation'. Together, they literally convey 'advance calculation', reflecting how budgets are prepared before actual spending occurs. It is commonly used in personal finance, business planning, government fiscal policy, and project management.

This word functions as a noun and often appears with measure words like '个' (e.g., 一个预算) or modifiers such as 年度 (annual), 项目 (project), or 家庭 (household). It can also serve as a verb in formal contexts (e.g., 预算一下 means 'to budget' or 'to estimate'), though the noun usage is far more frequent in everyday speech and writing.