Budgeting Monthly or Weekly?

[Lioness021186]

I was just wondering if there is any differences in the percentages you should use for each category based on if you budget weekly or monthy. I have a budget set up for monthly, using certain percentages for categories that i got from websites. However, at least until May, I will be paid weekly. Can I use the same percentages im using for monthly with a weekly budget?

[tapnet1]

I have been developing and fine-tuning my budget spreadsheet for many years now. I have a pretty good system down now where I use 2 bank accounts, 1 spreadsheet and a very canny way of keeping track of when bills are due and how much I will need to have.

You can read about it at www.learn2budget.com

[bluefishbig]

I have set up my budget to where I have just about all my bills drafted on certain dates and some of them are on equal payment plan. The reason why I did this was that it help's me know that I will have some money left over at the end of the month to either save, invest or pay off a bill.

I would not use the same percentage from monthly budget for the weekly budget. The reason is you only pay the following bills once a month. Rent /mortgage, utilities, cable, phone, car. So stay with a monthly budget.

[bluefishbig]

I have set up my budget to where I have just about all my bills drafted on certain dates and some of them are on equal payment plan. The reason why I did this was that it help's me know that I will have some money left over at the end of the month to either save, invest or pay off a bill.

I would not use the same percentage from monthly budget for the weekly budget. The reason is you only pay the following bills once a month. Rent /mortgage, utilities, cable, phone, car. So stay with a monthly budget.

[popowich]

You are budgeting and saving, you are well on your way.

Don't spend what you don't need to be spending ("live below your means") and save the rest. :D

-Raymond

[harryn55]

I was just wondering if there is any differences in the percentages you should use for each category based on if you budget weekly or monthy. I have a budget set up for monthly, using certain percentages for categories that i got from websites. However, at least until May, I will be paid weekly. Can I use the same percentages im using for monthly with a weekly budget?

I don't see why not, the percentages should work fine weekly.

[RocCityDad]

I basically write down all my expenses, including savings for the month.

Then since I get paid weekly, I divide by 4 and round up all numbers to nearest 5.00 increment.

It is always best to be at least 2-3 months ahead. minimum 1 month. for unexpected bills.

At the end of the month, I then will have a little left over from the expenses since I put more away each week. This money is either used for something special... or savings.

[Raven]

I keep track of every dime spent. We get paid every two weeks. One paycheck a week is hard the next one is a little easier. There is nothing left to save at the end of the month. We have a HUGE debt. that will be paid off this summer that will make things easier. :rockernana: