Zero Based Budgeting for Your Family: Pros and Cons 

Having a zero-based budget for your family gives you 100% control over all of your personal finances. It allows you to allocate every cent to achieve the money goals you deem most important.

Creating a zero based budget at the beginning of each month gives you opportunities for saving, spending, and building a legacy.

What is a Zero Based Budget?

The term zero based budget originated in business. It was a spending plan that businesses and corporations used to allocate their spending, keeping the company, employees, and shareholders happy.

Why is it important?

Budgeting is one of those things. I can tell you that without it, I feel like my life’s in chaos. Giving order and structure to your financial life is not a punishment or a restriction. It’s just the opposite.

How do You Make a Zero Based Budget for Your Family?

Pull out all your bank statements or pull them up in your online banking. Find the areas that you’re spending in and jot them down. Are you spending money on housing? How about grocery stores and restaurants? Maybe gas for your car and Amazon.

Pros of Zero Based Budgets

Zero based budgeting for your family will give you permission to invest in the things that are most important.

Cons of the Zero Based Budget

t’s work. I’m not going to lie or try to sugar coat it. The first time I did a zero-based budget, it took a few hours and a LOT of erasing.

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