Use of budgeting

Hi

In my country, we often use the word budget or budgeting like this? Is it natural to native ears? If not, how would you put the same thought?

(Father to daughter)

I can't buy such an expensive sofa set without planning. It will upset my whole budget for the month. [-- He won't be able to run the house with the money he'll be left with after buying the sofa.]

A- Are you planning a trip abroad this summer?

B- Not yet; we'll have to sort out our budget first.

Thanks,

Tom