Dr. Appelbaum Explains How Zero-Based Budgeting Empowers Smarter Spending

In a recent feature on WalletHub, Dr. Deniz Appelbaum, Chair and Associate Professor in the Department of Accounting and Finance, shared her expertise on how zero-based budgeting can help people take control of their finances by assigning every dollar of income a specific purpose.

Dr. Appelbaum emphasizes that ZBB can work for anyone looking to be more intentional with spending. “The idea is that each month, every cent of income is allocated and accounted for, reflecting both personal financial goals and essential needs,” she explains. But she also points out the potential challenges, especially for those who haven’t yet tracked their spending habits. Her advice? Build self-awareness by observing your expenses over time and start with a small emergency fund to buffer against unexpected costs. Appelbaum’s practical guidance provides an accessible roadmap for those ready to take a more structured, goal-oriented approach to budgeting.