![]() ![]() It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. ![]() Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Comment Disclaimer: These responses are not provided or commissioned by the bank advertiser. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Roadmap Money and CardRatings may receive a commission from card issuers. Roadmap Money has partnered with CardRatings for our coverage of credit card products. I am not a personal finance professional and you should seek out a professional before making any financial decisions. While all attempts are made to present accurate information, it may not be appropriate for your specific circumstances and information may become outdated over time. Information presented on Roadmap Money is intended for informational purposes only and is not meant to be taken as financial advice. If you want a pretty spreadsheet, and have some debt to payoff, grab your copy of this zero-based budget template today! It uses Google Sheets, and you can follow her step-by-step instructions for getting it set up for yourself. It basically follows my same steps above, but prioritizes your debt payoff first. This budget template by Ellie Mondelli is wonderfully designed, and a fantastic template to start your zero-based budget. Grab a copy of both by signing up below! Best Zero-Based Budget Template For Debt Payoff You can also try our printable PDF version as well if that’s more your speed. My favorite part about the Google Sheets version is that it is mobile friendly (designed to work on your phone), and you can SHARE it with your spouse to stay in sync at all times. It follows my 5 steps for zero-based budgeting above, and works on Google Sheets. Of course, I’m a big fan of my FREE budget template. There’s something for EVERY type of budget in this list! Pick your favorite and try it out! My Free Budget Template Here are my favorite zero-based budget templates and apps that you can get on the internet today! Top 7 Zero Based Budget Templates and Apps (check out my recommended 5 Steps on how to use your extra funds.)Īnd that’s it! You simply need to assign every dollar a job, and then stick to it. With your basics covered, the rest of your income should go toward your next goal. Bills and Daily Spending first, then save for infrequent expenses. The idea is that your money should be allocated in order. Step 5: Put the rest toward your goals ( Emergency Fund, Debt Payoff, Saving, Investing, etc.).Step 4: Enter your Saving Buckets (infrequent expenses like Christmas, birthdays, car maintenance, etc.).Step 3: Enter your daily expenses (Groceries, gas, shopping, restaurants, entertainment, etc.).Step 2: Enter your fixed expenses (bills, subscriptions, etc.). ![]() To create a zero-sum budget, you need to follow the below basic formula: Most people know their income, but if you don’t know your average spending, the best way is to simply look at your spending over the past few months (we go over this exercise in complete detail in our Money Management Masterclass ). ![]() Note : To properly use a zero-based budget template, you need to know your expected income, and spending throughout the month. The best part about zero-based budgeting is that you get a full picture of how your money * should* be used during the month. This makes sure that no money “slips through the cracks”, and any and all extra money after your expenses goes toward your goals. The idea is that you create a budget, input your total income for the month, and then assign those dollars a job. Zero-Based Budgeting (also known as zero-sum budgeting) is simply creating a plan for every dollar you earn.
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