Budgets - Mothering Forums

Forum Jump: 
Thread Tools
#1 of 4 Old 06-05-2011, 11:02 AM - Thread Starter
Join Date: Jun 2011
Posts: 24
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

When making your budget do you divide by 4 if you get paid weekly or take the amount times 52 weeks divided by 12 months? 


I like the second option because it gives me more money every month but of course, it doesn't work every month since not every month do we get paid that extra week.


Any ideas...tips? 

erh4 is offline  
#2 of 4 Old 06-05-2011, 11:06 AM
littleplum's Avatar
Join Date: Jul 2009
Posts: 90
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

We budget each paycheck.  When I was working, and getting paid weekly, that meant that we were writing our budget (on an Excel spreadsheet) for every week of the month.  Now that I am at home full time, and DH is the only one working, we make the budget for every two weeks.  Sometimes we have three paychecks in a month, and pay the mortgage twice in that month.  So that means that on paper, we sometimes have no mortgage payment due that month.  That happened this month.  We paid the mortgage for June back in May, and we get paid July 1st, so there will be no mortgage payment coming out of our checking account in June.

littleplum is offline  
#3 of 4 Old 06-05-2011, 03:33 PM
zebra15's Avatar
Join Date: Oct 2009
Location: State of Confusion
Posts: 4,712
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 9 Post(s)

If you get paid weekly, times it by 52 and divide by 12.  Thats the whole point of a budget.  Your money is going to vary month to month based on the number of weeks- if you get paid weekly, bi-weekly, on the 1st and 15th, monthly etc.  You make a budget and go from there.  You need to tell your money what to do!

Mom to J and never-ending , 0/2014 items decluttered, 0/52 crafts crafts completed  crochetsmilie.gif homeschool.gif  reading.gif  modifiedartist.gif

Seeking zen in 2014.  Working on journaling and finding peace this year.  Spending my free time taking J to swimteam

zebra15 is online now  
#4 of 4 Old 06-05-2011, 05:58 PM
sunflower.mama's Avatar
Join Date: Apr 2008
Location: Boston suburbs
Posts: 696
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

What works for me is to budget on a monthly basis, and include 2 paychecks in the budget.  DH gets paid biweekly, so that means that twice a year we get an "extra" paycheck.  The extra paychecks go to 1)  christmas expenses and 2) catching up on cc or clothing budget.  I like that I can calculate what our monthly expenses, including mortgage, are, and have that money sitting in the bank on the 1st of the month.  We budget "ahead" which means that the 2 paychecks we receive in May are for June 1st's expenses.  I am careful not to spend more in May than we need for our June 1 bills.

Katherine mother to DS 8/03 and DD1 9/06 and DD2 6/10
sunflower.mama is offline  

Quick Reply
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Please enter a password for your user account. Note that passwords are case-sensitive.
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:


Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.

User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off