To the Professional Financial Manager of the home:
Yes, you now have a title. A title that reflects your growing skills and knowledge. A title is good, that's why businesses give them out. It makes you and others feel you are a VIP. And, you are. :)
In The Trenches differs from other budgeting plans because it is based on zero-based budgeting techniques that are commonly used in businesses. What this means is that every expense is evaluated before it can be included in the budget. A thorough evaluation is made. Is this service or expense needed? Is this the most cost effective method for obtaining this service? Has a comparison been made of other similar services? Can paying on a quarterly or annual basis reduce the cost? How will this expense contribute to my financial net worth? These questions and many more help to evaluate and determine if this is the best possible use of funds and should be reviewed monthly for the first year and at least annually thereafter to insure that the services or needs have not changed. An example of this is to do a price comparison of your auto insurance every year. Is this still the best plan for your needs? Is it the most cost effective?
The basic expenses are part of what is called the Minimum Basic Budget. Additional items such as vacations or entertainment can be added but only if there is enough money to afford them without going into debt to do so.
The simple result is: Am I getting the best deal for my money?
If we are In The Trenches most of us want to get out as soon as possible and taking the time to do this evaluation can save dollars or thousands of dollars so that we may reach our goals sooner.
Financial Web also defines Zero-Based Budgeting in this post:
Using zero-based budgeting will assist in reviewing all the options and come up with solutions that will work your your family. It will help you answer the question "What are we going to do?!"