How do you do your weekly paychecks?

Question

Hi Everyone...
Just sitting here working on a young couple a budget..& Thinking.
How do you do your weekly or bi-weekly paychecks?
Most husband & wife's add one check to bank, (don't touch except for paying bills) other check for groceries,gas & cash.
Any good ideals on how to budget on a weekly or monthly basis?
This will be interesting to hear.

Answer 1

All my money goes towards investments/retirement. We live off my husbands income...

Just started another business and now that money is simply put back into the business to make it look even better. When the cash flow is really good I add more to investments. I am super frugal and will have money to travel when I get older.

There are sooooooooooooo many things people can live with out. Its up to the individual to decide if they want money or if they want "stuff" collecting dust.

: )

Answer 2

My husband and I are 28 have only been married a year but this system works for us. I am paid monthly while my husband is paid weekly. Every pay check I put 1k into our joint savings and 250 is added into my 401k, and then I write a check to my husband for my share of our predetermined expenses (rent, insurance, utilities, etc..). He pays out all the bills. The money remaining in my account goes to my spending. He is very frugal where I live in the here and now. This way all of our bills are paid on time and yet I have my own cash to purchase items that I want and he doesn't stress out over the amounts I spend. My extra cash in my account at the end of the month then goes into my personal savings account (or the joint if we are saving for something big). My husband is a firm believer in zero debt and this system has worked out quite well for us. He is happy that we have no debt and I am happy that I get to go shopping and not have him question "How much did that cost?"

Answer 3

The frequency and number of checks makes no difference. Before each month starts, list the total income you will receive that month. Next, subtract EVERY penny you will spend that month. Include categories for impulse buying and savings. At the bottom of the page, you should have ZERO remaining from your checks. After completing the budget, list when each bill is due and when each check is received. Allocate which check will be used to pay each expense. As with the budget, EVERY penny should be accounted for. If you spend less than budgeted in any category, that money can be reallocated the following month.

Answer 4

10 % first goes into savings from each and every check. Then we put the remainder in checking. We pay bills in order of due date and then groceries etc.. Married 15 yrs and have tried the separate accounts, this is what works best for us.

Answer 5

Yes it will be over $1000 if you are not taking stuff out yourself. For example 1400 or so is your gross after taxes between 250 and 350 you should still be over 1000 but if you have 401K or a savings plan then it will be lower. Your friend probably got around the same as you because they claimed dependents or you had more then just taxes coming out of your check. a $33K salary after taxes is over $1000 take home so your $38K will be more then $1000 take home.

Answer 6

Pay off all the bills first, and then whtever is left goes to savings and investment accounts.

Answer 7

One check pays my rent and all my bills, two go right in the bank.... one is for spending money, that's my month. I make really good money, (very stressful job) I know not everyone makes this kind of money, but you asked.....By the way I'm 28 and I live just outside of Boston Ma...... not cheep!!!