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Today, we're diving deep into the world of budgeting and answering a burning question: What is zero-based budgeting?
We received a great question from our Facebook group. Someone asked, "What is zero-based budgeting, and how do I do it?" This inspired us to break it down and make budgeting accessible to all.
? Setting the Stage with Our Budgeting Tool:
- We use an amazing budget spreadsheet, and you can get it too (with a discount code) if you're interested.
- It's designed to be user-friendly with clean fonts and clear sections.
? Step 1: Understanding Your Income:
- Start by inputting your income, the money you're bringing in.
- Every dollar is your soldier, and you're the commander.
? Step 2: Debt Minimum Payments:
- Now, let's tackle your debts.
- Minimum payments are non-negotiable; you owe them.
- Subtract your minimum debt payments from your total income.
? Step 3: Budget Categories:
- Next up are your bills and expenses.
- These include essentials like utilities, groceries, subscriptions, and insurance.
- Subtract these from your remaining budget.
? Step 4: Discretionary Spending:
- Here's where you decide what truly matters.
- Dining out, entertainment, pocket money – you choose how to spend.
- Allocate funds to these categories wisely.
? Step 5: Savings (or Extra Debt Payment):
- If your priority is paying off debt, allocate the remaining money to debt payments.
- In our example, we have some savings goals.
- Set aside money for planned expenses, like travel or gifts.
? Step 6: Getting to Zero:
- The magic happens when you get to zero.
- Every dollar has a job, and the goal is to assign them all.
- If you have any money left, put it towards your financial goals.
? Step 7: Be the Supervisor of Your Dollars:
- Remember, you're in control.
- Make sure every dollar fulfills its job – no extra jobs allowed!
? Step 8: Pay Debt Strategically:
- When allocating money to debt, split it among your paychecks.
- Don't wait until the end of the month; act as soon as you get paid.
? Conclusion:
- Zero-based budgeting is all about intention and control.
- Plan for everything, be intentional with every dollar, and watch your financial goals come to life.

Next Steps > > >
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