Zero Out Your Accounts Every Month to Enforce a Zero-Sum Budget

Azero-sum budgetis an excellent way to reduce your spending and save more.

Personal finance blog Money Crashers suggests taking this to the next level by emptying your main accounts every month.

To be clear, the site doesn’t suggest spending every dollar.

That’s why I “zero out” my accounts each month.

Deposit your paycheck in your checking account, and immediately start “telling” it where to go.

If you’re on a cash budget, withdraw the necessary amount.

Then, pay your bills.

If you don’t spend the money, move it all of it somewhere you might save it immediately.

Check out Money Crashers post for more tips on how to cut overspending.

How to Stop Overspending and Get Your Budget Under Control| Money Crashers

Photo byKen Teegardin.