There are many ways to create a budget for something. And it all depends on how you receive money monthly. Most people get it weekly or once a month.

But what if you are getting two paychecks in a month? Well, sometimes, it needs extra attention. Biweekly budgeting can be great if you have some extra income or are saving for a significant expense. It is also helpful to create a new budget, as you get your money twice a month.

So, to better understand this phenomenon, we’ve prepared a nifty guide for you to prepare your budget correctly.

With that in mind, let’s review some of the essential elements that can be an issue when discussing a bi-weekly budget with some templates for you to use.

But first – let’s establish the software best suited for this kind of project. Of course, it is a budgeting issue, so you need something reliable and robust to complete all of your projects promptly. To do that, you need to have software that will not only give you the ability to create a bi-weekly budget but also – edit it and send it to all of your devices easily.

To do that, you just need to get a Microsoft Office 2021 Professional Plus Key Retail Global. There is a reason why this is one of the most popular and used programs in the world. People all over the globe are using it for various tasks, from office-related to personal use, such as writing or creating documents like this one.

And, as it turns out, it is not an expensive program anymore! Nowadays, you can get pretty good deals on your Microsoft Office thanks to the hard work of many online resellers and competition. It turns out that nothing is stopping you anymore, so grab your copy and let’s get into some template examples!

Bi-Weekly Budget Template #1

First up, we have something pretty basic when it comes to creating a bi-weekly budget.

As you can see, there are a lot of positions you can edit to make it as customizable to your needs as possible.

Everything is divided into two different weeks, with two different incomes coming in, and you can make sense of how these elements are intertwined. In our opinion, this is one of the best templates for sharing a budget with someone, as you can easily just add another layer to it and see every detail clearly and without issues.

You can download this template for free at DocTemplates.Net.

Bi-Weekly Budget Template #2

The second budgeting template on our list is a bit more complicated but still easy to use. The best thing about this template is that you can use it for anything, such as your home budget or your project’s budget, as it is a pretty detailed tool for dividing your money input into two weeks.

In most taxes, you will find it satisfying, but, as we’ve stated before, it may be a little overbearing for some people, so be sure to see if you can handle it. You can download this template for free at DocFormats.com.

Bi-Weekly Budget Template #3

And finally, we have ourselves the one, the only, massive weekly budget worksheet for your entertainment. It states it’s a weekly budget, but you can easily modify it to your needs and just put zero income into two brackets.

Why this worksheet makes sense? Well, because if you need an enormous tool, this one will set you free for sure. As you can see, there are a lot of details in this one, and if you are running a bigger project or just operating on many variables, you will surely be able to use this one to your advantage. Whether saving for a new car or managing thousands of people, this template will satisfy all your needs.

You can download this template for free at SpreadSheet123.com.

In a world where people are living from paycheck to paycheck, there comes a time when you ask yourself – but what if there were two paychecks? Well, in that case, you will have to organize it somehow, and that is what a bi-weekly budget is all about. Whether you need to manage your money in your home or your company, you will need some framework for doing it, and that is precisely what this is all about.

In most cases, people get a salary monthly or weekly, depending on the country. But with two salaries to manage, it can get a bit problematic. That is why people are looking for solutions on how to manage this issue and still come out on top. In this article, we will show you how to get over a bi-weekly salary, some pros and cons of this kind of solution, and some pretty good solutions to common problems concerning this kind of endeavor.

So, now that we know what we’re talking about, let’s see how we can create our own bi-weekly budget. Of course, the most important thing to remember is that you must sort your extra paychecks accordingly to create a safe budget for all your potential endeavors.

It may be problematic for some people as getting a second or third paycheck during a month is not the usual thing. Of course, as with all things, there are ways of mitigating those differences and getting ahead of the issue with even some advantages.

The main thing you need to remember is that you need to allocate your resources even more efficiently than in the case of a monthly paycheck. Also, getting into some debt is so much easier as you may experience insufficient funds at the beginning of a month.

To combat that, for those of you who are paid biweekly, we’ve prepared some ground rules that will help you govern those expenses.

Write Down Your Expenses

The most important thing is to write down all your expenses. It may seem like an obvious thing to do, but you must know all the elements that you need to take care of. That would be:

• Rent

• Utility bills

• Phone bills

• Internet and other

• Food and drinks

• Health care

• Car payments

• Family-related bills

• Any legal fees etc.

All of those need to be included in your monthly budget. Only then can you start thinking about what kind of entertainment budget you may have and what to put into a savings account. Of course, this list is not limited to those items, so if you have another spending you know about, add those as well.

Unnecessary Spending

The next thing you must remember is that all discretionary spending should also be listed and sorted to achieve maximum efficiency when creating a bi-weekly budget. Those would be all the entertainment spending, retail, and all the elements related to “going out.” It is the spot where you can get the most out of it if you want to save some money, so keep that in mind while drafting this list.

Budgeting Calendar

Next thing on our list, probably the most detailed one, is the budgeting calendar. If you want to create something advanced that will help you overcome your unusual budget circumstances but also help you create some room to save money.

First, you need to add all your fixed bills to the calendar in one of our templates. Remember that those are not only your fixed expenses you know from due dates you’ve experienced in your life but also – all the additional things like getting groceries every Saturday. In the case of getting biweekly paychecks, it is of utmost importance to create a calendar that will allow you to govern everything efficiently and effectively.

Additionally, you can add some discretionary spending that may or may not come each week. It is important because something is always coming up, like a flat tire, some lightbulb going out, or simply – you didn’t expect your groceries to be as expensive as it was this month.

Create Some Savings

The next thing you need to do is create a well-crafted savings plan. The best way to do it is to create an overdone weekly budget and see what amount is left out.

Savings goals should be put into some kind of emergency fund, as you never know what can happen. In most cases, you should be able to put aside around 20% of your income. That way, you will have some money on the side and can also plan your budget more efficiently, clearing this amount from your weekly spending.

Create an Alternative Budget

Another neat trick with a bi-weekly budget is creating an alternative budget that you can use when something goes better or worse in your financial situation.

Of course, getting a consistent amount of money is something you really need to ensure, but you can have some wiggle room with any budget with good planning.

Also – if you have two different budgets, you need to create two different parts of your budget. The first one is from the beginning of the month to the first paycheck and the second is from the second paycheck to the end of the month.

The biweekly budget needs to consider all the variable expenses you may have during any pay period or pay periods in your budget calendar. Whether it’s the first or second pay period, you must create separate budgeting options for each.

Analyze Your Spendings

And finally – analyze your spending. We cannot stress this one enough, as it is often underestimated. Analyzing your spending can get you far if you want to set up not only an excellent plan for your expenses but also – for your savings.

See if you can cut some corners here and there. Maybe you are spending too much on something stupid, like getting a Starbucks coffee every day when there is a great little coffee place to check out for half the price. Sometimes creating the right budget can be problematic, but if you do it right, you will quickly notice that you can cut a lot of unnecessary stuff that costs a lot of money in the long run.

Whether it’s a big budget for a company or your weekly spending, getting bi-weekly budgeting options can get you far, not only when it comes to governing but also in saving money. There are a lot of potential things you can cut out of your spending if you just plan for it. In most cases, the best thing to do is to be prepared; a well-structured budget option is just the way to go about it.

If you have any questions or would like to know more about a certain office/software/gaming-related topic, be sure to let us know. We would be more than happy to help you out. You can also check out our vast library of articles. Maybe there will be something that could be suited to your needs.

Anyways, thanks once again for giving us a little bit of your time, and we will see you at the next one. Stay safe!