Author Topic: Tracking sheets when not paid monthly  (Read 1767 times)

merlin7676

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Tracking sheets when not paid monthly
« on: August 17, 2015, 08:55:03 AM »
I was just wondering how people track their expenses and savings when paid every 2 weeks vs. monthly or twice a month?
Unfortunately no monthly tracking sheets work for me as I get paid every two weeks. Currently I just use excel and have a tab for every 2 week pay period. But it doesn't translate into monthly expenses in and savings.
For example I got paid on july 24th and this month I get paid on the 7th, 21st and then Sept. 4th.
So I can't say I get X amount for August income - X amount of bills/expenses....
When I've tried it before it became to complicated to try and allocate a certain amount of my net for the pay periods that fall in 2 different months.

EricP

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Re: Tracking sheets when not paid monthly
« Reply #1 on: August 17, 2015, 08:59:42 AM »
If you're paid bi-weekly, then you've got what 2 months where you get paid three times (Oct and April this year?), but the other 10 months you just get paid bi-monthly.

What I'd recommend and what I see most people doing is just budgeting based on 2 paychecks and then just dumping the extra two paychecks into savings.

Cromacster

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Re: Tracking sheets when not paid monthly
« Reply #2 on: August 17, 2015, 09:05:28 AM »
What I'd recommend and what I see most people doing is just budgeting based on 2 paychecks and then just dumping the extra two paychecks into savings.

^^That is what I do, let mint track it for you, or Excel =paycheck*26/12 for monthly income.



zephyr911

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Re: Tracking sheets when not paid monthly
« Reply #3 on: August 17, 2015, 10:01:20 AM »
I get paid biweekly at one job, monthly at another. I use one continuous Excel sheet for my checking account, and I hide past transactions every time I reconcile.

I have templates that I use to create big lists of the biweekly and monthly recurring transactions, which I then manually intersperse (cut/paste). It's less convenient than some software options, but it's free and it forces me to get personal with the numbers.

Here's the next couple of weeks of my sheet (updated and reconciled Friday) with descriptions and comments hidden. I use color codes for scheduled ETFs, tentative amounts that need to be verified, critical payments etc.

forummm

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Re: Tracking sheets when not paid monthly
« Reply #4 on: August 17, 2015, 11:53:15 AM »
You could just add up your after-tax income received during that calendar month. Simple.

I get paid bi-weekly so I just have a cell in my spreadsheet with a 2 or 3 in it depending on the number of checks I got that month. It also multiplies my 401k contribution and match so I can get the total savings for the month.