![]() ![]() You could receive a paycheck on the 26th of one month, and then not be paid again until the 10th of the next. With a paycheck that comes every two weeks, you need to plan a little more for how to pay for your expenses. You receive 24 paychecks throughout the year. When you are paid semi-monthly, your paychecks usually come on the same day every month, such as the 1st and the 15th of the month. This means that you receive 26 paychecks throughout the year. When you receive a paycheck on a bi-weekly schedule, then you are paid every two weeks. The Difference Between Bi-weekly and Semi-Monthly Let’s jump into how you can effectively budget your finances when you get biweekly paychecks. Keeping track of what you are spending money on, and how much, is crucial to the success of your budget. Now you you have all the information you need to actually plan how you are going to pay for your expenses throughout the month. Get everything organized on a calendar so you can see what is due and when. You have to know what you have to budget before you can actually make your plan. There are some basic steps to budgeting when you have a biweekly paycheck. So, if you are paid on a biweekly schedule, then this post is for you. ![]() And while that is still technically true when you receive biweekly income, going about your budget for the month needs to change slightly. I know that a lot of budgeting tutorials talk about budgeting your money for the month. If you are paid on a bi-weekly schedule, then you know the frustration this can cause when trying to organize your finances and set your budget.īut the truth is that whether you are paid monthly, twice a month or bi-weekly, the principles of budgeting are the same. So we did not have set dates each month when the paycheck would hit our bank account. Did you know that the whole time we were paying down over $300k in student loans, that we were getting paid with bi-weekly paychecks? ![]()
0 Comments
Leave a Reply. |