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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.

Connect With Us:

1️⃣ Facebook Group – Join the community. Our free group is where the real talk happens. Connect with other women who are learning how to budget, save, and finally feel in control, together. ➡︎ budgetbesties.com/facebook

2️⃣ Automate Your Budget Masterclass – Watch it now, no waiting. This FREE on-demand training shows you how to set up a budget that matches your lifestyle, without tracking every dollar or feeling restricted. ➡︎ budgetbesties.com/automate

3️⃣ Budget – Grab our Simplified Budget System! You don’t need another budget, you need a system that does the math, makes the plan, and gives you permission to spend. ➡︎ budgetbesties.com/budget

4️⃣ Private 1-on-1 Coaching – Get a plan and a coach. We’ll build your full budget system together, so you always know what to do and feel confident doing it. ➡︎ budgetbesties.com/coaching

5️⃣ Be on the Podcast – Free coaching, real convo. Come chat with us on the show! Get real-time financial coaching and help other women by sharing your story. ➡︎ budgetbesties.com/livecall

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147 | Real-Life Budgeting: A Hands-On Guide to Creating a Zero-Based Budget

Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans

147 | Real-Life Budgeting: A Hands-On Guide to Creating a Zero-Based Budget