Comments on: How to create a zero-based budget http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/ Your Guide to Stress-Free Financial Control. Personal finance tips. Thu, 19 Jan 2012 01:14:24 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Johlene http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-236085 Johlene Thu, 19 Jan 2012 01:14:24 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-236085 Here's my version of ZBB. 20% Fun (vacations, spending money, activities & recreation etc., interest pmts on holiday trailer) 20% Debt Reduction/Big Ticket Items (once the debt is paid off, we can finance new "toys") 20% Vehicles (save up for new vehicle with excess over fuel, maintenance, payments) 20% Home (mortgage principle, home maintenance 3% of value/yr, maybe utilities etc.) 20% Expenses (groc, clothing, mortgage interest, utilities etc.) 20% Savings (Pension that comes off paycheques, RRSP, RESP, investments) This is fun. If a category is negative (such as "Expenses" or if it's boring (like Vehicles), then I only allocated my windfall to categories that need topping up, like vacations, debt payment, and investments (pro-rated based on 20% rule). This does help set a limit, using my "values", I am not going to try and save more than 20%, because some of that belongs to much-wanted vacations! Not going to spend it all paying off the mortgage either. The idea is to balance having fun in the present with a secure future. Here’s my version of ZBB.
20% Fun (vacations, spending money, activities & recreation etc., interest pmts on holiday trailer)
20% Debt Reduction/Big Ticket Items (once the debt is paid off, we can finance new “toys”)
20% Vehicles (save up for new vehicle with excess over fuel, maintenance, payments)
20% Home (mortgage principle, home maintenance 3% of value/yr, maybe utilities etc.)
20% Expenses (groc, clothing, mortgage interest, utilities etc.)
20% Savings (Pension that comes off paycheques, RRSP, RESP, investments)

This is fun. If a category is negative (such as “Expenses” or if it’s boring (like Vehicles), then I only allocated my windfall to categories that need topping up, like vacations, debt payment, and investments (pro-rated based on 20% rule). This does help set a limit, using my “values”, I am not going to try and save more than 20%, because some of that belongs to much-wanted vacations! Not going to spend it all paying off the mortgage either. The idea is to balance having fun in the present with a secure future.

]]> By: Holes | daily bricks http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-182307 Holes | daily bricks Tue, 26 Oct 2010 21:29:12 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-182307 [...] if you haven’t tried the zero-balanced budget and the envelope system, you should.  Even though I’ve always been on the frugal side, [...] [...] if you haven’t tried the zero-balanced budget and the envelope system, you should.  Even though I’ve always been on the frugal side, [...]

]]> By: Zero Based Budgeting http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-180752 Zero Based Budgeting Fri, 01 Oct 2010 09:11:12 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-180752 [...] about this concept, I came across the blog Getting Finances Done, which wrote an excellent post on zero-based budgeting. I know many people who have used this concept to get their finances back in [...] [...] about this concept, I came across the blog Getting Finances Done, which wrote an excellent post on zero-based budgeting. I know many people who have used this concept to get their finances back in [...]

]]> By: Budgeting Tea Party Style « arborblahg http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-177570 Budgeting Tea Party Style « arborblahg Tue, 27 Jul 2010 06:14:22 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-177570 [...] are lots of links about how people can apply zero-based budgeting to their home budget, and  if you’re [...] [...] are lots of links about how people can apply zero-based budgeting to their home budget, and  if you’re [...]

]]> By: A 360-Degree Approach to Improving Self-Confidence | http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-173517 A 360-Degree Approach to Improving Self-Confidence | Wed, 07 Apr 2010 15:22:50 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-173517 [...] a plan. Create a budget and keep to it no matter the [...] [...] a plan. Create a budget and keep to it no matter the [...]

]]> By: Bly, Dahle Townhall Tonight. « Interned In Northfield http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-173275 Bly, Dahle Townhall Tonight. « Interned In Northfield Tue, 30 Mar 2010 02:24:44 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-173275 [...] They were asked about “0″ balance budgeting. It was quite apparent neither had a clue what that was. Both Bly and Dahle, particularly Bly fell [...] [...] They were asked about “0″ balance budgeting. It was quite apparent neither had a clue what that was. Both Bly and Dahle, particularly Bly fell [...]

]]> By: Cash Is Truly King! http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-172875 Cash Is Truly King! Wed, 17 Mar 2010 21:45:21 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-172875 [...] How to Create A Zero-Based Budget and Budgeting on A Self-Employed or Irregular Income [...] [...] How to Create A Zero-Based Budget and Budgeting on A Self-Employed or Irregular Income [...]

]]> By: A 360-Degree Approach to Improving Self-Confidence « Catch Your Career http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-172812 A 360-Degree Approach to Improving Self-Confidence « Catch Your Career Tue, 16 Mar 2010 21:47:36 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-172812 [...] a plan. Create a budget and keep to it no matter the [...] [...] a plan. Create a budget and keep to it no matter the [...]

]]> By: February Wrap-up and March Goals « The Saved Quarter http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-172065 February Wrap-up and March Goals « The Saved Quarter Sat, 27 Feb 2010 21:03:45 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-172065 [...] Stick to a zero-based, envelope budget, using only [...] [...] Stick to a zero-based, envelope budget, using only [...]

]]> By: January Wrap-Up, February Goals « The Saved Quarter http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/comment-page-2/#comment-170882 January Wrap-Up, February Goals « The Saved Quarter Sun, 31 Jan 2010 16:57:57 +0000 http://www.gettingfinancesdone.com/blog/archives/2006/08/how-to-create-a-zero-based-budget/#comment-170882 [...] Stick to a zero-based, cash only [...] [...] Stick to a zero-based, cash only [...]

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