This empirical study investigated the relationship between business strategy and budgetary usage, given perceived crisis in Latin America. Using the strategy typology of Miles and Snow (1978), it was hypothesized that the Defender and Reactor strategy usage would be positively associated with Crisis while the Prospector and Analyzer strategy usage would be negatively associated. Employing LISREL analytic techniques, study results supported these relationships (although an alternate analysis supports the possibility that Defenders and Prospectors enact their strategy to be consistent with their Crisis perceptions). Further, though relationships between all strategy types should be related to Budgetary Usage, results indicated that the only significant relationship was between Prospector and Budgetary Usage. Though these results are consistent with the literature and have implications for budgeting practice in Latin America, additional research is needed