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Weekly budget template planner4/16/2024 Honestly, I would leave your income out of the weekly budget itself though it’s obviously a very important part of the equation. What do you do with your paycheck? Should you put it in when you get your paycheck or divide it into a weekly income? Where do you put monthly income in your weekly budget? Groceries and discretionary expenses like dining out can be spread evenly through the month unless you have a big dinner or fun celebration planned. Weekly spending for weeks 2 through 4 are typically a little more consistent unless you have a car payment in week 3 or if you split your mortgage into biweekly payments. It typically includes loan payments, utility bills, rent or mortgage payments. Usually the weekly budget for week 1 is going to be the highest of the month. There are certain expenses that come out once a month, and others that are consistent on a weekly basis. Your weekly budget should include everything that you expect to spend that week, and each week will be different. Time to fix that! What should my weekly budget include? If you read other posts about weekly budgeting out there, it would lead you to believe it’s super complicated, but that’s not necessarily the case. Weekly budgets are easier to follow because the spending decisions are condensed into 7 days instead of 30.Įach week is a fresh starting point which allows you to course correct and end up where you wanted to even if one week doesn’t work out.īottom line is that you’re more likely to end up where you want with a weekly budget.Ī downside is that the budget is weekly which means it can take more time to create it. If you have a dining out budget of $800 for the month, what difference does an extra $10 make? But if you set a $200 per week limit, that $10 has more context. Weekly budgets make the tiny decisions matter and keep your goals front of mind. It gives you great awareness around where all of your money is going including your fixed expenses and your overall personal spending. “Oh well, might as well finish the entire batch!” That’s the mindset.Ī third pro of the monthly budget is you can see the full picture of what your month looks like. It’s kind of like trying to eat healthy then having just one cookie during the day. What happens when you go over? It’s really easy to fall off the wagon! If you spend more money than you anticipated, it all falls apart and you feel like you have to wait until the first of next month for any changes to matter. The first pro here is that…you’re setting a budget! That’s something to be excited about!īut they are really hard to keep up with and really easy to lose track of. Let’s start with the more common budgeting technique. Is it better to budget weekly or monthly?īut just like everything, there are pros and cons to making both a weekly budget and monthly budget. Bonus step: Treat it like an experiment.Step 5: Remember about your irregular expenses.Step 4: Make a weekly budget for 1-3 categories you want to improve.Step 3: Figure out what your overall weekly spending on everything else.Step 2: List out the timing and amount of your big bills.Step 1: Figure out how much you want to spend monthly.How do I budget for a week? Here’s the 5-step process.
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