momof3nj wrote:I just read and re-read this thread...
Now I think I am more confused than I was before. I get paid bi-weekly (monthly) the 6th & the 21st! My husband get paid weekly. How on earth do I budget this?
When the money arrives, allocate the available income to jobs/categories in your budget.
momof3nj wrote:My check usually pays the larger bills, mortgage, electric, water, gas, car payment & insurance. His is the food, gas for cars, spending, and weekly stuff. He cashes his check at the company bank on the way home from work on Friday so it is cash in hand, I have direct deposit into 2 checking accounts. I am seriously in trouble with how to do this.
Create a cash account for his income if it stays in cash, and 2 checking accounts to hold your income. When he gets paid allocate the money to food, gas, spending and other weekly stuff. When yours comes in allocate it to the larger bills - mortgage, electric, water, gas, car payments & insurance. You'll want to ensure during your budgeting that you have covered off everything you need before the next pay period.
When you move from paycheck to paycheck to monthly budgeting, that income is just going to be one big pool. It might be easier to manage with one checking account and have your husbands cash deposited into that account. In addition try to hold back a little each pay to help build your buffer.