Zero base budget

Front

John is planning to use the zero based budget for his finances. What is the first step he should take in creating his budget?

Back

John should write down his monthly income.

Front

According to the zero based budget, what is the second step in creating your budget?

Back

Write down and total your expenses for the month

Front

According to the zero based budget, what is the third step in creating your budget?

Back

After required expenses such as rent, write down other expenses that you Want to spend on, not required

Front

People that budget and are good with their money say;

Back

Your money works for you

Front

A Budget controls spending. Which of the following is NOT a good ways to save money and budget: Don’t go out to dinner 🥘/ eat out less, Buy used cars 🚘, Use coupons or wait to buy something until it’s on sale, Use all of your savings and take out loans with high interest rates whenever you can’t afford expenses?

Back

Use all of your savings and take out loans with high interest rates whenever you can’t afford expenses

Front

The goal of a budget is _________________.

Back

to spend less than you make

Front

What is the envelope budget method?

Back

You put your cash into different envelopes based on the budget categories.

Front

How should you determine the amount of cash to put in each envelope?

Back

Based on your personal values and previous spending

Front

Regardless of which type of budget you use (50/30/20, Envelope, or Zero Based), what is the first step in all three methods?

Back

Determine your net income