Personal Finance 101
Zero-based budget, emergency fund, debt payoff
Scroll down to complete Trailmix Wealth community polls and activities related to this lesson!
Activity 1: Track Every Dollar
Using a budgeting tool (like Monarch Money) or a simple spreadsheet, list your 3 biggest monthly expense categories. Where is money quietly leaking?
| # | Expense Category | Monthly Amount |
|---|---|---|
| 1 | $ | |
| 2 | $ | |
| 3 | $ |
The Zero-Based Budget
"Every dollar gets a job." Enter your net monthly income and assign every dollar to a category. The status bar only flashes green when Unallocated Cash hits exactly $0.
Activity 2: Start Your Emergency Fund
Using the money freed up from your budget audit, set a target for your three-month emergency fund. Open a High-Yield Savings Account (HYSA) if you haven't already.
Michael's book pick for this topic is on the way. In the meantime, browse the full bookshelf.
Visit the Bookshelf →Try These Calculators
Related Tools & Resources
Platforms Michael uses that are relevant to this lesson. These are affiliate links to support our work bringing free, advanced wealth-building education to all.
Monarch Money
The budgeting app I actually use. Clean interface, tracks net worth, joint accounts for couples. 50% off your first year.
SoFi Bank
High-yield savings, Roth IRA, and brokerage all in one place. Up to a $400 welcome bonus for new accounts.