Tools, practices and methods
The world is full of amazing tools that may be perfectly suited to accelerate our journey, but often we only discover them through chance encounters, and can lose years being stuck in sub optimal loops.
Our endeavor is to catalog a growing list of tools and eventually match them to you based on your context.
Zero-Based Budgeting Method (ZBB)
Zero-based budgeting (ZBB) is an approach to budgeting that involves building a budget from the ground up, starting with a zero base for each budgeting period. In both personal finance and organizational contexts, this means that every expense must be justified and approved, regardless of whether it was included in previous budgets.
Cash Flow Budgeting Method
Cash flow budgeting is a financial management approach that focuses on tracking and managing the actual inflows and outflows of cash in a given time period. This budgeting method is particularly useful for individuals, businesses, or organizations to understand how money is moving in and out of their accounts, ensuring they have enough liquidity to cover their financial obligations.
Debt Avalanche Method
The debt avalanche method is a debt repayment strategy that involves prioritizing and paying off debts based on their interest rates. In this method, you focus on tackling the debt with the highest interest rate first, making larger payments towards it while paying the minimum on other debts.
Debt Snowball Method
The debt snowball method is a debt repayment strategy that involves paying off debts in a specific order, starting with the smallest balance and progressing to the largest. In this approach, you focus on eliminating the debt with the smallest outstanding balance first, regardless of the interest rate associated with each debt.
Help us build this list, please suggest any tool / method or practice that you know.