Zero Based Budgeting: Free Up More Money

As many of you know, I'm not a fan of traditional budgeting. Not because it doesn't work, but because most people just use it to shift around money they are already spending, rather than using to free up money.
Zero Based budgeting is different in that it forces you to justify every single expense - not just assume that expenses are fixed. This means looking at those big expenses and reevaluating them from an objective standpoint based on your needs today.
I'll warn you, this video may push some buttons but in order to achieve your own financial goals, its time those buttons got pushed!

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[abbymoore]

Because of COVID, I couldn’t travel and for the first time in my retired life, I started living within my budget. But before I created my budget, I took a month and wrote down where my money was going to. It reminded me of doing a food journal to help in weight loss. Then, I started a zero based spending budget. The whole process freed me from the guilt of overspending because I consciously started to spend my money the way I planned. Fast forward a year later, I am working with my young adult daughter to create a budget that will help her pay down a credit card while working and living in a fun, but expensive city. Thanks Dee for another helpful video.

[shirleylangton]

I love this way of budgeting, Dee. I analyze every expenditure to see if it can be altered or completely deleted and it gives me the money I need for the things that are really important to me. Thank you for your "out-of-the-box" approach to budgets. I love it.

[HappyMomGirls]

Oh my goodness. I understood what you said. I’ve watched it twice and will watch it again and probably take notes. You’re an effective teacher with a friendly demeanor and I enjoy your videos. Blessings 🌿

[tmo]

Solid gold here! I never realized what I do has a name. Back in 2014, my high-paying job was outsourced to workers in another country. I decided then to drop out of the rat race and NOT pursue a similar position because I didn't want to live with so much work stress. I looked at everything I spent differently after that. I whacked a lot of expenses that I thought of as necessary (before the layoff). I'm very happy with my choices and live pretty well on 1/2 the income.

[dinahsoar]

I've done zero based budgeting my whole life and didn't realize it. IT WORKS. Living by the motto 'use it up, wear it out, make it do, do without" kept the money in my pocket. I played a head game, the idea being I was going to keep my money in my pocket vs putting it in the pockets of those who were selling.

[wildmeadows]

I love that visual of “freeing” money from that little contained prison we have. It’s a much more inspired way of looking at our budget.

[parsellart]

I put my home in a reverse mortgage. I hold the note so I can sell it if I want. I have zero payments. I only have to pay the insurance and property taxes. Divide that total by 12 and my house payment a month is far less. Instead of paying 800 month I pay 200.00

[kristinolan]

Such a great way to think about money and our belongings !!

[GillianBudgets]

Thank you so much for explaining this method. I've done zero based budgeting but Dave Ramsey's way ..I find it easier to follow. It's helped us save loads... previously I hated budgeting cause I was so bad with my finances.

[christianemichelberger]

Thank you for this very refreshing definition of zero based budgeting! Have budgeted zero-based the old style, I'll definitely try it.

[keric]

I have a young coworker who is literally keeping darlings. We work manual labor but she injured her foot (prior to being hired) So now she's working in pain, and it gets worse as she works.

I suggested she get a different job, one where she won't have to walk as much, but she wants to have the higher pay so she and her boyfriend can move out of their parents' houses to an apartment. And, (and!!!) That apartment has to be pet friendly so they can keep their dogs.

Smh. I hope she doesn't permanently injure herself from the mindset that her pets are more important than her health.

[lilybee_]

Thank you! If I budget $800 a month for groceries, Im going to spend it. That doesnt mean I should be spending that much.

[sallyforth]

You are amazing Dee! Notifications for your vids always help to keep me on the straight and narrow! 😊🙏

[sandrafrederick]

Thank you. You brought up things that I really need to look at seriously.

[lindascull]

I think I watched this 40 x :-) very helpful!Thanks!

[maurad]

You’re wonderful! I’m in maximum security prison! Zero money left to do zero!

[ArlenePMCM]

Great info. I'm confused - what is a manufactured home? Is it a trailer?

[marshabarnhart]

Did you say in one of your videos that you had a publishing company? I keep getting poetry downloads based on humanities new 5th dimensional awareness. Perhaps I am supposed to publish them. How does one find a publisher for poetry?

[margal]

8:54 “keep no...” what?? Darlings? Sorry I can’t understand what you’re trying to say there

[paulaaustin]

If I had cash to buy a manufactured home, you can bet I would do it. Have no more savings, $1, 000 a month fixed income. Hopeless.