Budgeting guide
How to budget when you are paid fortnightly
Fortnightly pay can feel awkward because most bills are monthly, weekly or yearly. The fix is to plan by date, not just by month.
Start with your next pay date, then enter every regular bill against the date it is due. This gives you a cashflow view instead of a rough monthly average.
Why date-based budgeting works
A monthly budget can look fine on paper while your bank balance still dips too low between paydays. A cashflow forecast shows the timing problem.
- Add income on the actual payday.
- Add expenses on the date they leave your account.
- Use fortnightly, monthly, quarterly and yearly frequencies.
- Watch for low-balance weeks before they happen.