Budgeting 101: How To Do A Monthly Budget If Paid Biweekly Or Every Two Weeks

DISCLAIMER:
I am NOT a financial expert, accountant, or anything of the sort. I am in no way qualified or certified to give financial advice. However, I am here to share my love of planning and also share what my family is doing to get out of debt and be better with money. If you are looking for financial advice, I would recommend seeking advice from an expert.

[iMAGATRON]

I have a suggestion. I worked in financial services for a couple years. One of the most important things to remember is 1 tenth of everything you earn is yours to keep. In other words, PAY YOURSELF first; i.e. Savings Need to have at least 3 months worth of income saved up as an emergency FUNd. Your cable doesn't care if you pay your rent, Rent doesn't care if you've paid for you car. None of your payees care if the other got paid. So definitely pay yourself first. Learn how to live on 90% of your income and put the 10 away every month. Also when you have a 3rd paycheck in a month... Put that entire amount into the savings account. This savings account should require you to actually walk into the bank to get money out. Not connected to overdraft, or have a debit card for it. Just my two cents. Pun intended. ;)

[lllvollv]

From an unorganized, procrastinating, undisciplined guy trying to straighten things out - this is fantastic. Thank you, this will greatly help me.

[JustFrugalMe]

This is so important! If you want to succeed, you need to create a budget. Without a budget, you lack focus and direction. Budgets not only allow you to take control of your financial direction; it also provides you a benchmark for determining whether you are actually succeeding.

[LakishaJohnsonbeauty]

I pay on my rent bi-weekly. I do it that way so I won't be all the way broke during the first of the month. Take that extra $ on the 15th (using these numbers as an example) and apply it towards rent due on the 1st. When the 1st rolls around you just need to pay the other half with the check you receive on the 1st. Do this every time you get paid, and you are a paycheck ahead of rent.

[Rkg]

$570 for rent?! I need to move wherever you are! I would be the happiest person alive paying that kind of money.

[lovedestinae]

I live in the south and these are pretty realistic numbers for me as a recent college grad. I don't pay rent since I still live at home with my mom or sometimes my sis, but her rent runs her about $600 for a 3 bed 1.5 bath in a decent neighborhood. And my car note is $300, insurance $100. I really liked this vid, as I am new to budgeting and will be starting my first professional job in a couple of days and it pays biweekly.

[BudgetLady]

Congratulations on paying off your car!!! That’s my goal this year!!!

[neevaflowers]

It's very helpful to see a bi-weekly budget laid out like this. I appreciate this. Thank you! 😊

[CallMeWilsar]

Thank you for creating this video. I’ve always been paid monthly and I have a new job (and increase pay! which now pays me biweekly. I don’t love it this way but I can’t control it. What I can control is figuring out how to make it work so this video helped me figure that out. You have no idea how at ease I feel right now. Again, thank you so much and you’ve gained a new subscriber!

[gigi]

I’d put the extra $125 towards the car note from the $295. That would leave $170 left. I’d save the $170 each month.

$170 x 12 months = $2, 040 x 3 years = $6, 120.

[BethRichLife]

This was very helpful. Seems really simple and I don’t know why it never made sense to do it this way before. When I get home I’m going to setup my April budget. Thanks.

[mandyonabudget]

This also works for those paid semimonthly. Getting companies to change your due date is very helpful. I have my bills situated so I can “pay myself” first, so I don’t have to worry about the food budget.

[miriam]

Great video! That is exactly how I started my budget as I get paid 2 times a month.

[Sexycaramellay]

Thank you for the video. Y’all inspire my husband and I to do better. 💗

[PenniesNotPerfection]

Great budgeting basics video! I’m impressed by your rent amount! I live in the south too but I’ve never paid less than 650 and thought that was a steal without anything included.

[Kay-fvcw]

Nice video. I got paid on the 15th and end of month for years (it's called semi-monthly), and loved it. When I went bi-weekly (every 2 weeks) it really threw me off😞

[kaydee]

Great job I have just discovered your channel I have subscribe and will be tuning in.

[atxbrighteyes]

Where do you live? I need those types of prices!!

[uncevababE]

Thank you for this video, this explained everything perfectly for me

[kimmykim]

This is how i set up my budget. I only pay bills 2 times a month when I get paid. I auto pay 2 Bill's and make site I keep that amount in my account. I like that you didnt make it even because it rarely is balanced. Great job laying it out!!