Zero Means Zero
In a zero-based budget, this should be planned, not ignored.
What is every dollar?
The envelope system works best when you follow this rule.
What is only spend what’s in the envelope?
Paying off debt fits into this part of the 50/20/30 budget
What is the 20% (savings) category?
People who practice pay yourself first usually spend money that’s left over after doing this.
What is saving?
These expenses stay mostly the same every month, like rent or a car payment.
What are fixed expenses?
This budget makes sure all your money is planned before you spend it.
What is a zero-based budget
If your entertainment envelope is empty, you should do this.
What is stop spending
If you earn $1,000 a month, this is how much should go to savings in the 50/20/30 rule.
What is $200?
Money saved first is usually put into this type of account.
what is a savings account
A plan for your money is called this.
what is budget
In a zero-based budget, leftover money is usually assigned to this instead of being ignored.
What is savings (or debt repayment)?
This budgeting system uses physical or digital envelopes to separate spending money.
What is the envelope budget?
In the 50/20/30 budget, this percentage is for needs like food and housing.
What is 50%
This budgeting strategy means saving money before paying bills or spending.
What is pay yourself first
Money that you earn from a job, allowance, or gifts is called this.
What is income?
In this budgeting method, your income minus expenses should equal this number.
What is zero?
When an envelope is empty, this must happen.
What is you stop spending?
In the 50/20/30 budget, this category includes movies, games, and eating out.
What are wants?
In “pay yourself first,” this is usually the first place money goes.
What are savings?
Money you spend on things you need or want is called this.
What are expenses?
This type of budget makes sure every dollar has a job before the month starts.
What is a zero-based budget?
This type of spending works best with the envelope budgeting system.
What is cash spending?
This percentage in the 50/20/30 budget is meant for savings and paying off debt.
What is 20%?
This habit helps build an emergency fund over time.
What is pay yourself first?
Money set aside for unexpected costs like car repairs or medical bills is called this.
What is an emergency fund?