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Zero-based budgeting

If you want to take your finances to the next level, making a budget is the first step you need to take. With a little planning and discipline, budgeting can help you take control of your life and start saving more money. 

A budget is simply a plan to track both your income and your expenses. A budget can be as simple as a piece of paper with a list of your expenses and a list of your income. On the piece of paper you can figure out how much money you can afford to spend on each expense to meet your savings goals. 

Here’s how to get started: 

At the beginning of each month, write down your expected amount of income. Then list the amounts that you need to pay outstanding loans and cover monthly expenses. Next, write down how much you expect to set aside for savings that month. 

Use the area that says “TOTAL” to make sure that: Total each of the different amounts and then use the following formula:


At the end of each month, list the actual amount you earned for income, and the actual amount you spent on loans, expenses and savings. Then take a moment to reflect on how well you stuck to your budget. Take notes so you can learn from your mistakes and successes!

You got this!

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