Budgeting weekly

Bendy1224

Hi all,

just a quick queston.

my income comes in weekly, and a lot of my bills comes out monthly apart from my rent, which i pay each week when i get paid.

at the minute i just divide the monthly amount by 4.

obviously 4 weeks is (28 days).

how do i count for the other days tho if a month has more than 28 days.





cheers Ben :money:

MovingForwards

I used to get paid weekly on a Friday, all my bills / outgoings were budgeted over 4 weeks, when there was a 5th week I used to class it as a bonus week and save the money

Willing2Learn

Another way is to multiply the bill by 12 and then divide by 52. That way you will have converted your monthly bills into a weekly amount.

Monthly Bill x 12 / 52 = weekly amount

LobsterMemory

OR multiply the monthly bills by 12 and then add 5% before dividing by 52 so you can start building up a surplus

getmore4less

4 weekly is 13 pay periods a year.

Easiest way is to treat each 4 weeks as a month and have a full spare period at the end of the year(you decide what the years is).

When working on 13 pay periods in a big company many did their budget Jan to Dec and had the extra on around Xmas when there tends to be a jump in costs.