The last step is to actually write your weekly budget. You can even label this account “Bills” because you know it will need to help cover any bills you have in the coming month!īelow is an example of what your budget calendar might look like: One way you can save this money easily is to move the money you need to set aside into a separate checking or savings account. A few of your larger expenses, such as your mortgage, might have to be covered by several paychecks. If you plan to pay your electricity bill with your green paycheck, then highlight your electricity bill green.īe prepared to assign some of your paychecks to help partially cover bills in future weeks. To do this, you’ll want to highlight the bills that you’ll be paying with certain paychecks. Once you’ve included all your bills on your budget calendar, then it’s time to assign your paychecks to cover certain bills and expenses. Step 4: “Assign” your paychecks to cover your bills and expenses By looking through your previous spending, you’ll be more likely to include all categories in your budget. Categorize your expenses under categories such as food, gas, beauty, etc. Having trouble thinking of everything to include in your budget? Go back through your past two bank statements and comb through all your spending. You might spend $600 for groceries each month which would come out to $150 each week. Break down these expenses by how much you spend each week. This should include variable expenses such as groceries, gas, and spending money. Grab another piece of paper and list out your normal expenses for each week. If you’ve ever had to pay late fees, then you know how annoying it is! Step 3: List out all other expenses If your bills change from month to month, then be very careful so you don’t miss the due date! In fact, set up your bills on auto draft to ensure that you don’t have any late fees. You’ll need to know which bills to pay on which weeks so that you aren’t behind on any of your bills. Once you’ve added your paydays to your monthly calendar, add your bills as well. Step 2: Add your bills to the same calendar This is a great strategy, especially for visual learners. The act of color coordinating your budget will help you actually see how you’ll be able to break up your paychecks to cover your expenses. Then, highlight that paycheck with its assigned color. This will help you visually see which paycheck needs to cover each bill.Īssign each paycheck a separate color. Even better, write down how much money you’ll make each payday as well. Grab a monthly calendar and write down every single day that you’re paid. My hope is that these steps help make budgeting weekly doable for you. Today I’m breaking down the exact steps for how to write a budget when you are paid weekly. If you’re paid weekly then you aren’t alone! Over 30% of Americans are getting paid every week! And you can bet that some of them have learned how to make weekly budgeting work for them. The same is true for budgeting when you get paid weekly!Īlthough the idea of getting paid weekly might sound ideal, it actually makes budgeting a bit more complicated. It can be difficult to put together a puzzle without knowing the entire picture. If you’re paid weekly, then figuring out how to write a budget that works for you can feel like you’re trying to put together a jigsaw puzzle. In this article, you’ll learn 5 steps to write a weekly budget that you can actually stick to! In this article I will show 5 easy steps for writing your own weekly spending plan in less than 10 minutes per week! Just because you’re getting paid weekly, doesn’t mean you can’t write a budget that will work for you. After all, it seems so simple on paper! But when the rubber meets the road, it can feel a lot harder to follow through with. Writing a budget that you’ll actually stick to can feel like one of the harder parts about managing your money.
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