Zero base budget

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

• John should write down his monthly income

• John should write down and total his expenses for the month

• John should figure what his seasonal or irregular expenses might be for the month

• John should subtract all expenses from income for the month

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

• Write down your monthly income

• Write down and total your expenses for the month

• Figure what your seasonal or irregular expenses might be for the month

• Subtract all expenses from income for the month

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

• Write down your monthly income

• Write down and total your expenses for the month

• Figure what your seasonal or irregular expenses might be for the month

• Subtract all expenses from income for the month

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

• Write down your monthly income

• Write down and total your expenses for the month

• Figure what your seasonal or irregular expenses might be for the month

• Subtract all expenses from income for the month

People that budget and are good with their money say;

• Your money works for you

• You work for your money

People that do NOT budget and aren’t good with their money say;

• Your money works for you

• You work for your money

According to the zero base budget all of the following are good ways to save money and budget EXCEPT;

• 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

According to the Zero Based Budget 4 walls theory what should you take care of first?

• wants

• needs

According to the Zero Based Budget 4 walls theory all of the following are considered needs EXCEPT;

• Food and water

• Housing

• Transportation

• Basic clothing

• Entertainment

When you want something you should ALWAYS get it.

• True

• False