7 Simple Tips for Zero Based Budgeting (Definition, Advantages & Examples to Follow)

🔸 So what is zero based budgeting? 🔸

A zero based budget is an example of a budgeting system in which every single dollar you earn is already accounted for.

Most simply, income minus expenses equals zero.

The clear advantage of a zero based budget is that it actually allows you to spend money on things you enjoy without having to feel guilty about it. Planning a family vacation? Christmas coming up? All of these things are foreseeable expenses and can easily be written into this flexible budgeting solution.

Marissa's at-home example is the perfect template to follow if you're looking to pay off debt, save more money, and ultimately prevent out of control spending.

Here are 7 tips for creating and following a zero-based budget:

1️⃣ Decide on a budgeting platform that works for your (Excel, PPT, a budgeting app, etc.) (1:48)
2️⃣ Write down all of your expected income for the month (1:59)
3️⃣ Determine your expenses (groceries, utilities, debt payments, investing, etc.) (2:12)
4️⃣ If expenses exceed income, look for ways to save money (2:34)
5️⃣ Make sure all of your income is assigned a category (2:55)
6️⃣ Plan your budget each month (3:27)
7️⃣ Commit to regular check-ins (3:56)

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[leefont]

just wanted to comment on the recent growth of your website.. from 100k people to almost 1 million from September 2018 till now. BAM.. nice job!

[andval]

You are so adorable.
Good video too.