Listing your expenses will give you an idea of how much to budget in your biweekly budgets, which bills will be paid with each check, and what dates you need to have your money ready by.
You can also list these bills with their due dates beside them, or use an electronic calendar/planner. Next, you need to write out all your bills and expenses to see how they will line up with your biweekly budget! Print out a monthly calendar similar to the one above and write down what your bills/expenses are, how much they are and when their due dates are. You can also go over last month’s budgeting wins and things that you may need to work on in the future.Ģ.
This will ensure that you are prepared for the month ahead, that you go over what bills are coming out and that you are prepared to save for upcoming expenses like holidays, birthdays, or car maintenance. I suggest setting aside 30-60 minutes the night before a new “month” starts to write out both of your biweekly budgets. Even if it’s not an exact number, it’s better than using no data to begin your biweekly budget. Budgeting based off of your average income amount gives you a starting point so that you’re not just pulling numbers out of thin air. This is what you can expect in your monthly income. How do you find out what your average income amount is? Take your income for the last 6 months and divide it by 6. If you’re not sure what you’re going to be paid every 2 weeks, use what you have and start from there.Īlternatively, if you are on a fluctuating or inconsistent income, budget based off of your average income amount.
It also works for those paid on commission or in the gig economy. This system works particularly well for people who are paid biweekly.
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