How to Budget Bi-weekly

The key to budgeting expenses is to determine what these expenses are, cutting out unnecessary ones and sticking to a set monthly expense amount. However, some people find making a monthly budget complex because bills are usually received on a monthly basis, while pay periods are divided into two-week periods. The secret to budgeting for a bi-weekly income is to divide the expenses in two and save certain amounts from bi-weekly pay periods to cover larger monthly expenses.

Things You'll Need

  • Pencil
  • Paper
  • Calculator
  • Budgeting plan template


    • 1

      Track your expenses for a week before setting your budget and write down every cent you spend. This way you know where your money goes. Note how your expenses compare to your income.

    • 2

      Reduce existing bills by eliminating un-needed services or choosing less expensive service plans.

    • 3

      Add up your monthly bills and enter them in an Excel spreadsheet or a budget template you download from the Microsoft Office template website.

    • 4

      Look at the due date for your bills. Pay bills like mortgage, rent and utilities first. Do this with the first bi-weekly check. Pay any other outstanding bills in the first pay period.

    • 5

      Place bills that have longer due dates in the budget plan for the second pay period. Pay these off when you receive the second bi-weekly payment.

    • 6

      Keep a bi-weekly paycheck amount as a minimum balance in your checking account. This gives you a buffer for those months when your bill amount supersedes your bi-weekly pay. Gradually increase this amount each pay period until it equals one pay checks worth. This will let you pay any large outstanding bills at any time during the month.

    • 7

      Budget a small amount of spending cash for each of the bi-weekly paychecks. Withdraw this amount in cash so that you know that is all you have as an allowance for your personal expenses.

    • 8

      Set money aside over several pay periods if you want a large ticket item or want money for special activities and events. Open a separate savings account to place this money into.

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