Zero-based budgeting means giving every dollar a job before the month begins.
Your SmartDollar benefit includes access to EveryDollar, a budgeting app built around the zero-based budgeting method. With EveryDollar, you can assign every dollar of your expected income to a purpose before you spend it.
With a zero-based budget, your income minus your planned expenses should equal zero. That doesn’t mean you spend everything you make. It means every dollar is assigned to something, like bills, groceries, savings, giving, or paying off debt.
Why it helps
Zero-based budgeting helps you be intentional with your money. Instead of wondering where your money went, you decide where it should go.
Using EveryDollar through your SmartDollar benefit can help you:
- Plan ahead for expenses
- Stay focused on your goals
- Reduce overspending
- Make progress with saving or paying off debt
How to start
In EveryDollar:
- Enter your expected income for the month.
- Add your planned expenses and budget categories.
- Assign money to savings, giving, or debt payments.
- Continue adjusting your budget until your income minus your planned expenses equals zero.
- Update your budget throughout the month as your plans or spending change.
Need more help?
The team is happy to help. Submit a request here.