Recently someone asked to me write about zero based budgeting in budgetEDGE (zero based budgeting is the idea that you should allocate all of your money each month to some purpose, with nothing left over (hence the zero in the zero based budgeting)).
That's easy to do in budgetEDGE.
1) Enter your income and expenses as usual. If you have money left over it can be used for debt payoff (2) or savings (3).
2) Debt payoff: If you are carrying a balance on your credit cards or other term or revolving debt accounts, apply the residual there. budgetEDGE can track your declining balances for you.
3) Savings growth: If you are lucky enough to have no debt (or you simply choose to keep more of your money in interest bearing accounts), then apply your excess funds to savings. budgetEDGE will keep track of its growth.
The most important thing to keep in mind if you are going to follow this budgeting method is that your final residual balance will need to be managed very carefully because it will likely show negative numbers fairly often. You may find yourself transferring money from your savings account to your cash account regularly (something else the budgetEDGE can manage for you).
If you are ok with maintaining an active budgeting method (and are excited by the thought of additional yield on your idle cash), then zero based budgeting may be the right fit for you.
Try it now on budgetEDGE.