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Here is How You Can Budget on a Weekly Paycheck & Save Money


“I get paid weekly but my bills are monthly?”

Everyone knows the importance of following a budget and saving money specially on a tight budget.

But, when you get paid weekly, budgeting and saving seem much more difficult.

After all, a lot of bills go out on a monthly basis. Plus, it can seem like by the time the week’s up, after grocery shopping and other expenses, your paycheck is gone. 

You’re practically broke!

Thankfully, there are some things that can be done to lessen the burden of weekly paychecks while having monthly bills.

We’ve put together a quick, easy to follow guide on how to budget and save money on a weekly paycheck.

1. Look at your bill dates and expenses

When you get paid weekly, one of the most important things that you can do is track your bills and expenses.

You need to know exactly what date your bills go out, look at how much you spend on food each week and track other weekly expenses – like coffees, movies and magazines, for example.


By doing this, you not only determine how much you need to save for them, but you also give yourself a concrete deadline for saving.

Track your bills and expenses with pen and paper, or create or download a weekly budget spreadsheet.

Alternatively, use a money management app like Mint.

2. Create your budget

Budgeting when you get paid weekly is a little bit trickier, but it is possible – it just takes a bit more finagling.

And, it also varies depending on your financial situation – the way that you budget depends on your particular needs and circumstances.

Budgeting isn’t one size fits all and there’s no template that’s going to work for everyone.

The first step: Check what needs to come out of each paycheck

Now that you have a schedule for your bills, like the cable, car payments, mortgage, and electricity, and weekly expenses, it will be easier for you to make a budget.

The first step is to look at the schedule you made and the day that you receive your paycheck each week. This allows you to see which paycheck will cover what bills.

After you’ve done that, there are two ways that you can budget on a weekly paycheck:

1. Allocate money from each paycheck

Consider allocating money from each paycheck to certain bills.

For example, if your water bill is due in the first week of the month, then that will come out of your first weekly paycheck of the month.

Again, this is why making a weekly schedule for your bills and expenses is so important.

Of course you’ll also need to save a portion of your paycheck, each week or month, depending on your financial situation.

Don’t get stuck living paycheck to paycheck

When you use the method of budgeting above, make sure that you don’t get stuck in the rut of living paycheck to paycheck.

When you budget for each weekly paycheck, unexpected or infrequent expenses, like a bi-yearly insurance payment or car repairs can really trip you up.

This is why having money in a savings account is so important.

If you have a week where no bills are due, and you just need to pay for your basic expenses, like groceries and gas, take advantage. Save money for the weeks where you have a lot of payments due.

For the weeks where payments exceed your weekly paycheck – so you might have your mortgage payments and car payments coming out of the same check, savings are necessary!

2. Look at your income/spending monthly

Another way to budget when you get paid weekly is to look at your income and spending