Comments on: Why I Don’t Use Zero Based Budgeting

By: Little House

Little House — Fri, 05 Mar 2010 02:12:29 +0000

I do use zero based budgeting, but only because I use Quickbooks. AND I am in charge of all the finances in my household. So that means I have to account for my expenditures, bills, my husband’s expenditures, more bills, and…oh, yeah client invoices and payments…whew! If it were up to my husband, we would be going with your method! (or probably no method at all!)
.-= Little House´s last blog ..Yakezie Group Round-Up =-.

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By: Lulu

Lulu — Fri, 26 Feb 2010 21:15:27 +0000

I have a zero based budget that is actually a hybrid if you really think about it. I have a miscellaneous category and I also have a splurge fund where I can just spend whatever is in there.

I do not feel tied down by calling my budget zero based and I think I actually have more freedom now than ever.
.-= Lulu´s last blog ..Tracking My Finances In 2010: February Week 4 =-.

By: Angela

Angela — Fri, 26 Feb 2010 18:27:40 +0000

ps – we have a budget category for entertainment and we each have a certain amount of “pocket money” each month. I can still go out and have a “tasty beverage” with my girlfriends. It’s just that we have determined that we are not willing to spend more than $____ a month on that type of behavior. If we’ve already spend our entertainment money for the month and we want to take the kids out for a fun Saturday afternoon, that’s when we have to get creative and find something free.

By: Angela

Angela — Fri, 26 Feb 2010 18:21:40 +0000

I like the 0 based budget, b/c I like spending every dollar on paper before it comes in. We have some catagories where we spend the same exact amount every month. And we have some catagories where it’s a general amount being allocated, and any leftover staying in that catagory for next month. Maybe it’s because we have 2 people drawing off the same budget, it makes it easier for me to know what money is available to me. I find that instead of stress, it gives me freedom. I was always feeling nervous about making purchases before (because I wasn’t sure if Paul was going to planning on using our money for other things). It’s even more helpful for me to use the cash envelopes – if I need to purchase clothes for the kids, all I have to do is grab it and go. If Paul needs to get some jeans, he can grab what he needs, stick it in his wallet and swing by the store when ever he gets the chance.

Now that we are done paying our debt, some of the pressure is off on our super precise budgeting. We can (and have) decided at times to adjust our spending in some categories and then put less toward our savings. Though, we aren’t going to be doing much of that b/c we want to get that emergency fund growing strong!

By: Daniel

Daniel — Thu, 25 Feb 2010 22:51:15 +0000

Do you like the zero-based budget? Obviously it's what works for you and will help you pay down debt faster, but does it stress you out (more than usual)? .-= Daniel´s last blog ..Samurai Alexa Challenge Update =-.

By: paul

paul — Thu, 25 Feb 2010 22:49:23 +0000

Jolyn let’s not talk about blow money around here, I don’t want this conversation to get out of hand. . I think it’s just that Daniel has a slightly larger funnel opening than a tightened down zero based budget. Okay I’m going to stop commenting now I just said large funnel.

By: Daniel

Daniel — Thu, 25 Feb 2010 22:48:35 +0000

You’re right, but the truth is that there aren’t too many differences between a traditional budget and a zero-based one. It’s a matter of assigning dollars to specific things. I prefer to go above the standard “miscellaneous spending.”

Clearly, the most important thing is to have some sort of budget, and from there, you can tailor it to your individual situation.
.-= Daniel´s last blog ..Samurai Alexa Challenge Update =-.