Zero-Based Budgeting

Zero-based budgeting in a nutshell is, all the money you have coming in equals the same amount you have going out.

A few benefits of Zero-Based Budgeting are:

1. You can easily account for where your money is going.

2. You can analyze the categories where you’re overspending.

3. Helps you identify areas of opportunity to improve for the upcoming months.

When doing a zero-based budgeting approach for the first time, you may not necessarily know the exact total of your variable expenses such as groceries, gas, utility, entertainment etc. In this case, you can gather your previous month’s receipts or review banking statements to get an idea of each expense and/or spending category total. From there you will have a better gauge of what you typically would spend on certain categories.

Also, if you need a way to jump start tracking your income and expenses, then click here to download the Budget Per Month or the Budget Per Paycheck tracking sheets.

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Happy Budgeting Everyone!