Differentiate between cost estimating and cost budgeting?

Cost estimates are the costs associated with the work packages or activities within the project schedule. 

But the budget is built using the cost estimates and the project schedule.

The bathroom remodeling project will include the following cost estimates:

Demolition – $3,000: Week 1Sheet rock – $2,000: Week 2Tile floor – $3,500: Week 3Fixture installation – $1,500: Week 4Painting – $800: Week 4

Therefore the total budget is $10,800:

Week 1: $3,000Week 2: $2,000Week 3: $3,500Week 4: $2,300