How to Use Zero-Based Budgeting for Money Management Success

Budgeting doesn't come easy for many people.  In fact, creating a budget can cause confusion and frustration.

But it doesn't have to.  Zero-based budgeting can help you achieve money management success.

Your budget is considered zero-based if your total income minus your expenses equals zero.

The money you save and invest are considered "expenses" and are subtracted from your income.

The zero-based budgeting method accounts for every dollar you receive.  Here are some best practices to help you get started.

Gather your income first.  You'll need to know the amount of money you bring in every month.

Next, list all of your mandatory expenses.  For any variable expenses, use your average spending for that budget category.

Then, subtract your expenses from you income to determine your financial position.

Analyze your number.  If this number is negative, you will need to either increase your income or reduce your expenses.

Swipe up for more info on the best practices for zero-based budgeting and for free budgeting printables.