Shoestring Budget - Explained
What is a Shoestring Budget?
Written by Jason Gordon
Updated at October 13th, 2021
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What is a Shoestring Budget?
"On a Shoestring Budget" refers to a project or task that is attempted with a small budget or minimal capital funding - which is generally insufficient for the proposed capacity of the project. A shoestring budget is likened to a shoelace that when stretched is enough to keep a pair of shoe on the foot, but parts of the foot might hang out.
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How Does a Shoestring Budget Work?
While a shoestring budget is a budget is generally considered insufficient for the underlying project, there is a notion that, if a shoestring budget is stretched, the budget might just be enough for the project. Bootstrapping is a related but different concept. It refers to individuals carrying out a project with only the use of available resources.