Work with me: stan.store/pconte

In this video, I explain what a zero-based budget is and why you should incorporate one into your monthly review
Watch this next:    • Why the First $100,000 is Hard but $1 Mill...  

--

A zero-based budget is a powerful financial planning strategy that ensures every dollar of your income is purposefully allocated. Unlike traditional budgeting methods, this approach requires you to assign a specific purpose to each dollar you earn, effectively bringing your total income to zero by the end of the budgeting period. The key advantage of a zero-based budget is its inherent flexibility, allowing you to easily adjust your spending and saving categories as your life circumstances, income, or financial goals change. By promoting mindful spending and forcing you to be intentional about where your money goes, whether toward essential expenses, savings, debt repayment, investments, or personal goals, this method provides greater control and visibility into your financial landscape. Instead of wondering where your money disappeared, you'll have a clear roadmap that helps you prioritize your financial objectives, potentially accelerating your progress toward milestones like building an emergency fund, saving for a major purchase, paying off debt, or investing for the future. The beauty of this budgeting technique lies in its simplicity and adaptability, empowering you to make deliberate financial choices that ensure every dollar works towards your broader financial well-being.

Timestamps:
0:00 - Intro
0:39 - What is a zero based budget?
2:12 - How do you create a zero based budget?
6:42 - Long term benefits