It wasn’t until I read You Need A Budget* that it clicked. I know that we have bills before the 7th of the month, and I would set up our month’s income to rely on paychecks that we had not received yet to pay bills that were currently due. Some months, the first Thursday is not until the 7th of the month. Inevitably that would always leave us a little short – and borrowing from those sinking funds – for bills that were due before our first paycheck of that following month.įor example, let’s say we’re paid weekly on Thursdays.
The theory behind our thinking was that the elusive 5th weekly paycheck of the month, the one we would get before the start of the following month, we would use to increase our sinking funds.
Needless to say, it wasn’t working so well. I was trying to fit our weekly paychecks into a nice calendar month and make our monthly budget from that. Here are the steps I take to create our budget calendar.īefore I started utilizing this system, I struggled week to week finding a rhythm for our weekly paychecks. I can’t make a realistic budget for our income unless I know what expenses we have upcoming for that month. It is actually the first step in my budgeting process. Utilizing a calendar is a crucial step to help you budget and reach your financial goals.
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