The birds that we commonly call Parakeets in the USA are known as Budgerigars or Budgies to the rest of the world. While some may claim that Parakeets and Budgies are not the same, taxonomymakes no difference between the two.
There are, however, different varieties of these birds available. They come in a sea of beautiful color mutations, and selective breeding has given types like the English Budgie a distinctive look that's all their own.
Check out this informative Profile on Parakeets and Budgies to find out more about whether or not they are the right species for you.