I tweak my zero based budget every now then when there are circumstances that I feel make it necessary to do so. I am making a small tweak in December and will not be making some of the transfers to my ING sub accounts that I normally make.
I paid off my car in full a few months ago but still keep a figure for a car ‘payment’ in the monthly budget. This money gets sent to my ING account so that I can save up for a new car….but I will not be making that ‘payment’ in December this year.
I also pay small amounts to other savings accounts under various names but suspended the December payments on those until January. I need to have that small tweak this month to allow my accounts to settle since income has been so variable since I lost my full time job.
I will go back to using the regular budget in January next year so that I can get a fresh start and will start off the year with brand new rollover figures in Mint as well.
I have a set budget for Christmas spending that was funded throughout the entire year so if I do need to get gifts they will come out of that fund. I already plan on having a very low key Christmas so I do not anticipate any problems there.
Are you making any changes to your budget this time of year?
If you are doing a zero sum budget, you should try doing it a month “ahead.” For instance, if you get paid on the last day of the month-January- that could be your budget for February. Make sense? I realize it may be hard for you initially to get a month ahead since you are unemployed.
I also only get once a month on the 1st of the month and I do a zero sum budget a month ahead. Works great.
No I prefer to do it this way because I can count the income in the month I actually earn it, along with counting the expenses in the month I actually spend them. I do not want to think of money earned in January as income for February.
That makes sense. I guess that’s just how my brain works. We get paid once a month-salary- on the first of the month. I write my monthly budget that day and pay bills accordingly, transfer money to savings, etc. At the end of the month, I transfer any extra money to savings…or include it in the next months budget.