For those who are living paycheck to paycheck, here are some great easy ways to organize your budget around your paydays. It can be hard to make sure every bill is paid on time when you live on a tight budget, but these tips will help you to not only manage, but maybe even save. Working toward getting out of debt, or utilizing our tips for financial freedom can help you to get organized and make the necessary changes to live well within your means in no time. Check out all of our Spending Freeze posts.
Easy Ways To Organize Your Budget Around Paydays
Divide your bills in half. If you get paid twice a month or every other week, you should add up all of your bills and divide that amount by two then automatically subtract that amount in your checkbook ledger or tracking system. For example, if all of your bills add up to $3,000 per month, you should be setting aside $1500 each pay to make sure all of your bills are paid. You should also be setting aside other budgeting amounts for items such as vacation, Christmas, medical bills, etc. If you are unsure of your monthly budget amounts, print out or Monthly Budget Printable to track your monthly bills and expenses.
Call to adjust billing schedules. Almost every bill you have can easily be negotiated for a different date it is due. You may have to pay a bit more on the first bill since it will be for a larger time period, but the end result is being able to make your bills come due close to each pay period. This is especially helpful for those who get paid on a weekly basis.
Use the cash envelope method. We have some free printables for the cash envelope method that make this much easier. Creating an envelope for every bill or expense then adding the cash to cover that expense is a way to easily track your expenses. It has helped many people manage to stay in budget with ease no matter when their payday lands during the month.
Pair small bills with large bills. Instead of planning all of your bills to land on the same day each month, spread them out. Group one larger bill with a smaller bill each week. This helps you to feel like they are more manageable, and will keep you on track easier toward paying off your debt with ease.
Menu Plan. I can’t say enough about how much having a menu plan can revitalize your budget. Not only will this utilize the items you have on hand already in your pantry stockpile, it will help you to manage your week to week income. You can easily menu plan and shop on a weekly, bi-weekly or monthly basis. We have a great post on how to create a menu plan that you will keep you on track and make menus manageable.
These ways to organize your budget around paydays are great ways to help you manage even when you feel a bit too strapped for cash. Being able to work you budget to pay bills easily each week, every other week or monthly will help you to feel financially secure and make better decisions.
Leave a Reply