how do you budget when you get paid every week or every two weeks? - Mothering Forums

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Old 11-09-2008, 05:05 AM - Thread Starter
 
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There are pro's and con's to this.... I am used to getting paid 1x a month, so you have X amount to last you the whole month and you can decide how much can go to this and that

now I get paid twice monthly and my husband gets paid once a week- every Thursday. It's making the budget thing a little bit tricker, and Im interested to see how others do it. FOr some things, like say " fun money" or " groceries" for example, does your " month" start on like, the 15th or whatever day of the month?

I can't take out X per food and X per this because it comes every week.. am I making any sense out of this? I'm trying to explain what I mean.....

I think I will have to take out certain budget money in the current month for the next month which will work but will be hard to get used to. We have to take out about $200 cash during the middle of the week to save for rent that comes out the first week of the month otherwise we have the money and it looks like its extra money in our account, but really we need it to pay rent which we forget about.
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Old 11-09-2008, 06:46 PM - Thread Starter
 
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bump!
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Old 11-09-2008, 07:11 PM
 
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What I did was have the big bills come due the 1st and the 15th: mortgage, phone, electric/gas, car insurance.

I went grocery shopping every week. I divided the rest of the bills by due date -- if payday was Thursday I'd pay everything due from one Thursday to the next Wednesday.

I really liked it that way and wonder how I'll ever go back to not getting a check every week.

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Old 11-09-2008, 09:59 PM
 
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I get paid on the 1st & 15th.
I pay some bills with one check and some bills with the second check.
My grocery money and automobile gas get allocated with my first check.

Take a look at your budget and figure out when the due dates are on certain bills. Then just allocate those funds accordingly. It might help you if you treat your partner as only getting paid every 2 weeks like yourself. So what if the pay check is in hand or has been direct depositted, just ignore it for a week and only look at your fiances every other week.

Do you have a budget? If not that should be your first step before anything else so you can see what your obiligations, needs and wants are.

Good luck
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Old 11-09-2008, 10:13 PM - Thread Starter
 
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yes.. we have some sort of a budget.. we're just now starting to look at it more closely and get a stricter one. i
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Old 11-10-2008, 01:01 AM
 
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We use the envelope system (stopped using a bank when we got screwed over once too many) so this may not work for you.
Ex; Say your rent/mortgage is 800/mo. Take 200 out of each (weekly) check and put in rent/mortgage envelope of the month before rent is due. Do the same with each bill unless it is small enough that you can just pay it with a portion of the last or second to last check of the month. Things like groceries are paid for weekly.

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Old 11-10-2008, 01:09 AM
 
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We get paid on the 1st and the 15th. For each pay period, I pay all bills that are due within that time frame (for example, bills paid on the 1st are due between the 1st and the 14th, etc.). I buy groceries once on the 1st and once on the 15th, with usually just one small trip in between for fresh bread, fruit, and veggies (normally only about $10). I take out what we need for gas, what DH needs for haircuts (he has one each pp because he is military & it's mandatory) and put it in an envelope. Everything else goes to pay extra on credit card debt.

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