How to Budget with Biweekly Checks a Step-by-Step Guide
                     H O  W T O B U D G  E T W I T 
H  B I W E E K L Y C  H E 
C  K S : A
S T E P - B Y - S T E P G  U I D 
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B Y L E V E L F I N A N C  I N 
G

According to data provided by the US  Bureau of  
Labour Statistics, biweekly checks are the most  
common payment frequency. Many ask  
themselves if budgeting with a biweekly 
frequency  is different than doing it with a 
monthly one.
This article will first give you an overview of  
general budgeting principles. Then, it will 
show  how to budget with biweekly checks 
easily and  effectively.
Fixed expenses are recurring costs that tend to be the same 
over  time. They include:
health insurance premiums 
 rent
phone, internet, and other utility 
bills  monthly bus/metro pass  
membership (clubs, gym)
They are usually monthly bills and rarely change from month to 
month  unless you negotiate new conditions on your loans, change 
utility  providers, complete your studies, etc. Sometimes service 
providers  will change their fees unilaterally and inform you in 
advance by email  or letter.
In contrast, variable expenses are those costs that tend to change 
each  month based on your consumption. Sometimes the change can 
be  minor, while others it can be significant. These include:
groceries
personal care products 
 pharmacy products
entertainment (cinema, concerts, events) 
 gas
These costs tend to vary as a result of lower or higher 
consumption.  The more you use your car or go out with friends, 
the higher your  variable costs will be.
An additional classification that you can use to take more control of 
your  finances is the one between needs and wants.
Needs are expenses that you can’t avoid. Examples are essential  
groceries, health insurance premiums, and heating. Of course, they 
can  change from person to person. If you live in a remote area with 
limited  public transportation, gas and car repairs are most likely a 
need. In  contrast, those who live in an urban area can opt for a 
monthly pass for  the local bus and metro.
As opposed to needs, wants are those non-essential expenses you 
decide  to incur based on your personal choices and preferences. They 
include  gym subscriptions, streaming TV, and leisure weekend activities.
While not strictly necessary for budgeting purposes, dividing costs into 
 wants and needs allows you to determine which expenses are easier 
to  sacrifice than others. For example, if you are trying to save money 
fast  for your next Winter holiday, you can decide to cut some of your 
wants  (Netflix subscription? Dining out?) for the next three months.
It’s important to notice that needs and wants can be both fixed 
and  variable expenses. For example:
health insurance premiums are a fixed 
need  a gym subscription is a fixed want
essential groceries are a variable 
need  a concert ticket is a variable 
want
Even if you are budgeting biweekly, it’s useful to have a monthly  
calendar where you can highlight the most important dates of the 
month.  These include:
the days on which you get your paychecks
the days on which monthly fixed expenses are due (e.g., rent or 
gym  subscription)
the days on which debt payments are due (e.g., mortgage)
Your calendar should also include those days on which yearly 
payments  are due. For example, if the payment for your computer 
antivirus  subscription is due on August 10 of each year, make sure you 
write it in  advance on your August calendar.
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