Reported 8 months ago
Zero-based budgeting is a money management strategy where your income minus expenses equals zero, allocating every dollar you earn a specific purpose. This approach includes categorizing expenses, such as bills, investments, and financial goals, and adjusting the budget as needed. The strategy is highlighted for its transparency, adaptability, and accountability, but it can be time-consuming and restrictive for some. Steps to create a zero-based budget include listing income and expenses, categorizing expenses, allocating income to each category, and tracking expenses monthly for adjustments.
Source: YAHOO