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Zero-Based Budget
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As life essentials become more expensive and bills continue to pile up, most people are looking for new ways to budget their money. Now, an old-school method has resurfaced online that’s pulling people out of debt.
Apr 13, 2023
Being debt-free is an ultimate goal for many, but it’s a journey that some struggle to find out how to achieve. For Brandyn Rodriguez, a mother of two, two methods were her saving grace to clearing off $137,000 in debt. Rodriguez revealed to Good Morning America that after several failed attempts at getting out of debt, she started following the debt snowball method and a zero-based budget. She describes the debt snowball method as listing your debts from smallest to largest and then focusing on the smallest first while submitting payments on the other debts. The ultimate goal is for you to “repeat the process and continue building the ‘snowball’ until you finish paying off the largest debt last.” Along with her methods, Rodriguez balanced working as a restaurant server and at the United Way of San Antonio and Bexar County. “Every single time I opened up that billfold to give a customer their receipt or to write an order like, hey, you’re here for this. This is not the sexiest, fun...
Mar 9, 2022
If it’s one thing that we truly love to see, it’s the power that comes with financial freedom after paying off credit card debts! According to Good Morning America, Cinneah El-Amin is finally free from the constrictions that accompany debt after coming to a realization that it was time for a change. “The worst that I got was I woke up one day with over $10,000 in credit card debt that was due in full,” said the 27-year-old. From there she buckled down and took a head-first approach to managing and alleviating herself from the credit card debts she owed to various companies. When it came to attacking her debt, El-Amin knew that she had to take a more serious approach to where she was spending her money. Through the use of zero-based budgeting, she was able to achieve all of her financial goals. With the zero-based budgeting method, any income amount that is earned is given a “job” so that when the person subtracts the money that’s going out from their respective income, they are...
Feb 8, 2022