What Is Zero-Based Budgeting?

What Is Zero-Based Budgeting?

What if someone asked if you wanted all your income or just part of it? You want all of it, of course! You worked hard for that money.

But if you’re not budgeting to zero, you’re essentially missing out on money that’s yours. The good news is that it doesn’t have to be this way. A zero-based budget is the easiest way to make sure you have a handle on all your cash and are putting it toward what’s important to you.

Here’s everything you need to know about zero-based budgeting:

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How to Close Out Your Monthly Budget

When you were young, you probably believed in the tooth fairy: a spritely creature with an affinity for enamel who fluttered in and traded quarters for dislodged teeth.

You’re all grown up now and put those flights of fancy behind you—yet maybe you still hope for a budget fairy to track your expenses, update your spending totals, and set up next month’s budget categories.

Nope. This is the real world, with adult teeth and adult financial responsibilities. One of those responsibilities is closing out your monthly budget. Even though that sounds overwhelming or like one more task to clutter your to-do list, it isn’t that bad. We promise.

If you want to know how to close out your monthly budget, you don’t need magic. You just need to follow these five, simple steps. 

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