Learn the “Zero-based Budget” smart spending formula.

Jena Nguyen

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Learn the “Zero-based Budget” smart spending formula.

With the desire to build a community of Vietnamese women who are not only mentally and physically strong but also fully equipped with useful knowledge on how to manage personal expenses. Today, Lady Networking will suggest to you the “Zero-Based Budget” spending tips shared by Ms. Trinh Ho_CEO FreshM, Founder of Lady Networking.

If you have followed Ms. Trinh from 2012 to now, you may know many of her startups:

Try Mint Boutique fashion shop with the advantage of having a family with a sewing factory for more than 20 years
Opening a weekend fair, working hard from Monday to Sunday
Working at a wedding salon lost sleep and food, then left empty-handed
Opened a Thai restaurant with friends, after 2 months left handed Organize
Organize a dating connection series for singles.
Create a chain of Airbnb and apartments for rent in Ho Chi Minh City
Used to sell woven bags and succulents with dreams of selling all kinds of flowers and plants to protect the environment, planning to open a chain of bread carts, selling T-shirts globally…

However, what she realized is that human strength is limited. If the weather, the land, and people are not harmonious enough, then it is not a good thing. The biggest lesson that Trinh realized is that there is a need for a stronger layer of protection for all physical and mental injuries, which is having financial support. Just like when you go out to ride a motorbike, you must have a helmet.

Everything is easier when you understand how finances work, know how to protect your money, plan in detail with your money, and treat it well.

Trinh likes to share “fishing rods” with everyone rather than “fish”. If you have a clear mind, whether you want to fish for small fish or big fish, actively or passively, depends on your taste. As long as you don’t get eaten to pieces by sharks, it’s okay.

So, I will share with everyone the formula Zero – Based Budget Trinh often applies:

The purpose of the Zero – Based Budget formula

Zero Based Budget simply means you “command” money to go in different directions, rather than letting money force you to follow it. Besides, you also have to balance your spending money within the money you earn, so that every money you make has its own purpose.

3 mistakes when applying ZBB (Zero – Based Budget)

1. No savings

There is a very common mistake made by people who are new to Zero-Based Budgeting: “If money earned – Money spent = 0, it’s like spending it all, there’s no savings or investment left.” long term?” But the key is that savings must be included in the monthly spending amount. If you want to spend on anything, “pay yourself first!”, pay yourself first by saving money. Save separately.

2. Lack of comprehensive view of Budget

Are you someone who always wants to save money but always “short first, short later”? Or are you the type of person who carefully spends money on small things but forgets you need to spend on bigger things? This is the reason why we often complain of “running out of money”. Therefore, when making a budget, you can put petty expenses such as money for shopping and eating out at restaurants into one large item called “Food money”. The same goes for all rental costs, electricity, water, wifi… which fall into the large amount “Rent”. Having a panoramic view of the budget will help make the calculation process so that the budget returns to 0 (Zero).

3. Planning spending at the wrong time

A perfect plan is a plan designed based on spending with a broad vision, oriented to the future, and adjusted and changed based on current realities. The appropriate time to make a spending plan is the last week of the old month or the first day of the new month. At that time, you need to estimate how much money you will earn in the new month, and what this money will be spent on; Add up all expenses (including savings) and subtract the amount earned to equal 0. Thanks to that, all the money we plan to earn has its own purpose.

The immutable rule of Zero – Based Budget

You can completely rely on the actual situation of revenue and expenditure to change the planned numbers. But the immutable rule of Zero-Based Budget is: Calculated numbers must be reduced to zero!

– If the number is negative, it means you have spent too much.

– If the number is positive, you should spend the excess money in savings right from the beginning.

So what do you think if you have 1 hour to receive advice from Mentor Trinh Ho and Special Guest – people with many years of experience and seniority in the profession of catching “diseases”, consulting on the problems you are having, promises a promising New Journey 23 – 24 ahead.

Don’t hesitate any longer, quickly register today.

Registration link opening time: 11:59 p.m. September 30, 2023

Registered Link LED Talk: HERE