What is the meaning of "I'm on a budget"?
I have been studying for Toeic Test and I read the following phrase:

My computer just crashed. I am looking for laptop, but I am on a budget.

It means that the person doesn't have money enough to buy a laptop or he is saving money and doesn't want to buy a computer too expensive.

Question

What is the meaning of "I'm on a budget"?
I have been studying for Toeic Test and I read the following phrase:

My computer just crashed. I am looking for laptop, but I am on a budget.

It means that the person doesn't have money enough to buy a laptop or he is saving money and doesn't want to buy a computer too expensive.

Answer

If I am "on a budget," it means that I am trying to save money and buy something cheaper than usual.

"I am looking for a laptop, but I am on a budget" or "I am looking for a budget laptop"  means that you are prioritizing a cheaper laptop. Search online for "budget laptop" and you can see some articles that give good context.

Answer

I have a limited budget. I don't have extra money to spend.I was on a budget so I rented the smallest room possible.