May 2023
Beginner
320 pages
7h 58m
English
Content preview from Budgeting For Dummies
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Chapter 3
Zero-Based Budgeting
IN THIS CHAPTER
Establishing a zero-based budget
Exploring the advantages and disadvantages of zero-based budgeting
Determining whether a zero-based budget can work for you
A zero-based budgeting system is when you assign a job to every single dollar that comes your way. The overall goal of a zero-based budget is to leave no dollar unaccounted for. With this budgeting method, you should have a zero balance after you allocate funds to each category of your fixed and variable expenses. But that doesn’t mean that you should spend all your money. That’s not a wise move for anyone, ever. It just means that, in general, your income aligns with all your spending and doesn’t leave you in a deficit.
I love that using a zero-based budget requires you to plan. It’s a positive way to start being proactive with your money rather than reactive. When you’re reactive, you can lose considerable progress in a short amount of time, leaving you discouraged. When you train yourself to think ahead, you find the process getting more manageable as you go.
Never allow your ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.