Yesterday was budget day, when the Chancellor of the Exchequer tells the nation what his financial plans are; the media is full of comment, criticism, forecasts, praise and condemnation. As children, because we had a pet budgie, we always called it budgie day, or maybe we thought it was something to do with budgies!
The word budget here means a financial plan and on a small-scale everyone tries to budget with their own money, income, savings. A budget is actually a bag or a pouch and it came from old French, bouge, which may have been from the language of the Gauls via Latin, and also is similar to both Breton and Gaelic words for bag…
When I went to school we had singing lessons as well as music lessons, and our song book (which I would love to get hold of) had all sorts of traditional songs, shanties, ballads, foll songs… including one about Gossip Joan. it is a jolly song and we always sang it lustily, ‘Good morrow Gossip Joan, where have you been a walking? I have for you at home, at home, a budget full of talking, Gossip Joan!’ This song dates to the 1600’s and first appeared in written form in about 1705; the budget full of talking is obviously a whole load of juicy gossip!
Lois Elsden 
They use a lot of smoke and mirrors when proposing budgets with a little bit of voodoo incantations just for luck.
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You’ve got it summed up perfectly!
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