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Definition of personal. 1  1 : a short newspaper paragraph relating to the activities of a person or a group or to personal matters. 2  2 : a short personal communication in a special column of the classified ads section of a newspaper or periodical. 3  3 : personal foul.
Freebase(5.00 / 1 vote)Rate this definition: Personal budget. A personal budget is a finance plan that allocates future personal income towards expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget. There are several methods and tools available for creating, using and adjusting a personal budget.