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Unpopular opinion: the 50/30/20 rule is useless if you get paid every 2 weeks like I do
I tried that budget split for 4 months and kept coming up short around day 9 every single time. Turns out 50/30/20 assumes one monthly check, but I get paid on the 1st and 15th here in Boise, so I switched to budgeting by paycheck instead and suddenly had $60 left over at the end. My sister in law still swears by the monthly version and we argue about it at every cookout. Does anyone else split their bills by pay period instead, or am I just making extra work for myself?
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hugos4621d ago
Wait, did your sister in law actually sit down and do the math for two paychecks a month? Because 50/30/20 is based on monthly income, and if you just cut it in half per check most bills don't land that way. Rent is due once, not twice, so if you set aside half your rent from each check it works fine on paper. I made this mistake too, I treated each paycheck like its own little month and wondered why week two always felt broke. The trick is you still budget monthly in your head but you fund the categories as the money shows up. So yeah, you're not making extra work, you're just matching the budget to when the money actually hits your account. Your sister can keep her cookout speech, but a budget that leaves you $60 ahead beats one that leaves you short on day 9 every time.
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