In synthesis they are both the same, as they give your money orders of where to go, avoiding any wondering of where it actually went. Many advisors prefer to use the word spending plan as a budget is usually associated with a negative connotation of punishment. Remember that you want to create a plan of where you want your money to go, it is your money.... you should be the one calling the shots deciding what should go where. Over time you will see how gratifying this can be!