We study quasi-geostrophic turbulence and plasma drift turbulence within the Charney-Hasegawa-Mima (CHM) model. We focus, theoretically and using numerical simulations, on conservation of zonostrophy and on its role in the formation of the zonal jets. The zonostrophy invariant was first predicted in [1,2] in two special cases -large-scale turbulence and anisotropic turbulence. Papers [1, 2] also predicted that the three invariants, energy, enstrophy and zonostrophy, will cascade anisotropically into non-intersecting sectors in the k-space, so that the energy cascade is "pushed" into the large-scale zonal scales. In the present paper, we consider the scales much less than the Rossby deformation radius and generalise the Fjørtoft argument of [1, 2] to find the directions of the three cascades in this case. For the first time, we demonstrate numerically that zonostrophy is well conserved by the CHM model, and that the energy, enstrophy and zonostrophy cascade as prescribed by the Fjørtoft argument if the nonlinearity is sufficiently weak. Moreover, numerically we observe that zonostrophy is conserved surprisingly well at late times and the triple-cascade picture is rather accurate even if the initial nonlinearity is strong.