How To Budget Weekly Pay? The 10 Steps You Need

This post may contain affiliate links. That means if you click and buy from that link, I may receive a small commission (at zero cost to you), which helps me maintain the quality of this blog. Please see my full disclosure policy for details.

Receiving your salary every week can be great because you see the benefits of your work more often. Still, it makes budgeting a bit more complicated, as you might be missing that bigger monthly picture regarding your finances. So how to budget weekly pay?

Most of the budgeting methods out are set up based on you receiving your pay every month. However, if, just like me before, you find yourself getting your salary in weekly installments instead, you are stuck wondering how to budget your weekly wage.

Read: How To Budget Biweekly Pay?

With most of the bills paid in monthly amounts, making sure you have a good plan and knowing how to budget when paid weekly is key to achieving your financial goals. Of course, weekly pay shouldn’t mean you can’t start to budget your finances, but you should take a slightly different approach.

How To Budget Weekly Pay?

To budget your money correctly every week, you need to know how much money you have to spend every week, make a list of all your expenses, differentiate the costs that are essential from the non-essential, know the paydays, prioritize the bills and cut what is not necessary. You should also create financial goals, plan for significant, unexpected events and irregular expenses, and save in advance.

How to budget weekly pay

1 – Know How Much Money You Have To Spend

The money you will have to spend will come from your income sources, including your regular salary, any additional part-time work, and side hustles that you may have in your spare time. Knowing the amounts or at least close estimates and expected paydays will be essential for successful budgeting.

Read: Why Is Budgeting Important?

Start a Budget by adding your income

Remember to make standard deductions when trying to figure out how much money you should be receiving. This includes tax, insurance, or any other deductions that should be automatically taken from your paycheck, as those will work exactly the same as with monthly adjustments but taken in smaller amounts from every paycheck.

2 – Make A List Of All Your Expenses

As with every budget, you need to know what you expect to spend and the due dates for those expenses to ensure enough funds are in your account to cover them. Make a list of all costs you anticipate spending during the month, guiding yourself with your previous spending using bank statements and/or receipts.

Grab Your Free Budget Template

    Read: Budgeting Groceries For One Person

    When making your list ensure to include all of the expenses, even the smaller ones, as they can add up and make a more significant difference when you are paid weekly.

    3 – Know What Expenses Are Essential And Non-Essential

    When you are paid weekly, you usually have less money available at once, so you might not be able to cover all your expenses in one go. Therefore, knowing which costs are essential, those you cannot live without, and non-essential, those you can live without, will be key when understanding how to budget weekly pay.

    Read: Advantages And Disadvantages Of Budgeting

    Start a Budget by adding your expenses

    Examples of essential expenses, also known as needs, will include rent, gas/electricity/water bill, or food. Non-essential expenses, also known as wants, will consist of things like a gym membership, Netflix subscription, or any other entertainment-related spending.

    Read: How To Live On A Tight Budget?

    You can then use this knowledge when planning your spending to ensure your non-essential costs are covered first and any non-essential spending that might be pushed back to ensure enough funds in your account.

    4 – Know Your Paydays

    Receiving your paydays on a weekly basis will require a more organized and structured plan when looking at how to budget with weekly paychecks. First, you need to know when exactly you can expect money in your account so those can be later matched with your expenses that will leave your account.

    Read: Try The 30/30/30/10 Rule Budget

    5 – Prioritise Your Bills

    Your list of all necessary expenses, which will include your bills, will now be helpful. You need to ensure you always have enough money left to cover your bills and you don’t fall behind when receiving your pay weekly, with bills usually based on a monthly period.

    How To Budget Weekly Pay - Prioritize Your Bills

    Read: Best Foods To Buy On A Budget

    Falling behind your bills might entail an adverse credit history footprint and additional charges. Ensure you know all your bills that will be due and the exact days when they are due. So if your water bill is due on the 15th of each month, you know you need to have that money every time you reach that date, and the same goes for each essential bill.

    6 – Cut What Is Not Necessary

    Think back to all your non-essential spending you identified earlier – is there something you can cut back on? Equally, you can think of any essential spending that might be reduced by, for example, changing your energy supplier, renegotiating the tariff, or shopping at a cheaper grocery store.

    Read: How To Get A Month Ahead On Bills?

    When looking at how to budget when paid weekly, you will undoubtedly look at your expenses with greater detail due to the time-sensitivity that comes with ensuring you have enough money in your account for upcoming expenses. Use this to your advantage to ensure you are spending your money wisely. You can also try the extreme budgeting method if you want to cut most of the unnecessary expenses.

    7 – Create Financial Goals

    When it comes to sticking with a budget, having a goal in mind will motivate you to keep going and ensure you see through times when you will want to give up. Having a financial objective will also ensure you won’t potentially waste any spare money left after you cover all of your expenses.

    Financial Goals when Budgeting Weekly Pay

    A financial goal might be to do with spending, saving, or debt. For example, you can have a goal of spending a higher amount for a nice holiday or saving for a house deposit. You can also look to pay down your mortgage as quickly as possible or finally pay off your student debt. Whatever it is, make sure it is something you really want to achieve and work towards.

    8 – Plan For Big Or Unexpected Events

    With weekly pay, the spare amount of money you have left in your bank account might be less than those who receive their compensation monthly. So planning for a big or unexpected event like a car breakdown will be critical to ensure you don’t find yourself in financial difficulties.

    Read: Try The 60-30-10 Rule Budget

    One way of going about it will be to create an emergency fund that you can use in case of any unexpected event. It should be instantly available money and is not planned to be used for other expenses as part of your budget.

    To build an emergency fund when receiving a weekly salary, try setting a monthly goal that you can then use to split into smaller parts and save from your weekly wage. Building it should take the same amount of time as with a monthly salary, but the weekly contributions will be smaller than one monthly contribution.

    9 – Don’t Forget Irregular Expenses

    Planning for any irregular expenses like birthdays, Christmas, or even valentines day should be done with a few paychecks, just like with bigger bills which are on a monthly basis. You should try to estimate the amount you will need towards those expenses and divide it into smaller amounts that you can put aside from your weekly salary. 

    Read: Best Places To Grocery Shop On A Budget

    If you plan well ahead, you can decide to put money aside for irregular expenses every other payday. For example, if you are planning your Christmas spending six months in advance, you might be able to put money aside every third payday for the next six months to be able to fulfill your spending needs.

    An important point to note, however, is that making a reasonable estimate of the spending that will be required will be critical. Closer to the spending time, you might find yourself with fewer opportunities to ‘catch up’ with savings needed as you might have limited spare funds on a weekly basis.

    10 – Save In Advance

    When it comes to paying a monthly expense avoiding losing your whole weekly paycheck to one larger bill like rent will be essential but requires planning. The best thing I found to do is split the bill into four equal parts and put money aside with each payday to ensure spreading the cost of that bill across a month.

    Save in Advance when paid weekly

    A great example is a rent. If you pay $1000 each month, you should split the payment into four equal parts of $250 and aim to put aside that much with every paycheck you receive. This way, your monthly expenses won’t hurt your account balance much when they come due.

    Common Questions About How To Budget When You Get Paid Weekly

    These are the most common questions about budgeting when you get paid weekly.

    Is It Better To Budget Weekly Or Monthly?

    Even though budgeting every week might require more effort, it also allows you to stay on top of things better as you review and plan everything more frequently. It might benefit people on a low budget or those worried about their spending habits. However, some people prefer to budget monthly instead of weekly. It all comes from a personal preference or what you are used to.

    How Do I Make A Weekly Budget Spreadsheet?

    You will want to open a new workbook and set up your income and expenses parts as well as any other sections, including debt, savings, and investment, by listing and adding them up per category by totaling the numbers. You will then take away all of your expenses from your income which is done by using subtracting or summing up formulas and adding any other visual analysis per your requirements. You can try our budgeting templates.

    How Much Should You Save If You Get Paid Weekly?

    The best way to work out how much to save if you receive your pay weekly is to set your monthly or yearly goal and divide either by 4 (average amount of paydays every month, with six months having five paydays) or 52 (total number of weeks every year). You will then have a weekly figure that you will use to put aside from the money you receive every week.

    Read: Budgeting For College Students

    Why Is Weekly Pay Better?

    Receiving your pay on a weekly basis ensures that you receive the money you have earned more quickly and improves your cash position as your bank account is topped up with cash every week. It is also great when starting a new job as it means you won’t need to wait for a whole month or longer for your first paycheck.


    Receiving a weekly paycheck doesn’t mean you can’t budget; however, it will require more planning and organization. You need to know when and how much you are getting paid in order to match your expenses and not get into financial difficulties of not being able to cover your costs due to a lack of money in your bank account until next week.

    Read: Most Common Budgeting Mistakes

    When I was budgeting weekly pay, a thing I found very useful was to spread out my expenses across the month, meaning phoning up providers of my utilities or when signing a new contract and ensuring that due dates were spread out across the month. This ensured all of my bills weren’t going out at the start of the month, which is useful when receiving your salary on a monthly basis.

    Hopefully, you now know how to budget weekly pay and have an action plan you can use. Remember that you might struggle at first, especially if you are used to receiving your salary on a monthly basis before. But most importantly, do not give up; review and readjust as needed on a weekly basis until you get it right.

    Similar Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *