How A Payday Budget Planner Helps With Budgeting Between Paydays
Everybody has a different method of budgeting, and it's best to try a few methods to see which one is the perfect fit for you and your family or household. But we're going to focus on one method in particular that may help you with budgeting between paydays — the budget-by-paycheck method.
With a payday budget planner, you create a brand-new budget every time you get paid. So, this will be every week, every two weeks, or every month, depending on your employer's schedule. It's great for those who struggle to stick to traditional budgeting methods, as it will help you better monitor your spending.
How Does A Payday Budget Planner Help With Budgeting Between Paydays?
Regardless of your financial goals — covering bills comfortably, building an emergency fund, saving for a house deposit, or going on the vacation of a lifetime — budgeting is the best way to reach them. And a payday budget planner can help you do exactly that.
If you've tried budgeting methods like the 50/30/20 rule and so forth, you may still be struggling to make ends meet. And that's okay; traditional methods aren't great for everybody. For those living paycheck-to-paycheck, the payday budgeting or "budget-by-paycheck" method is much better.
But why is it better? Well, one of the main reasons is it forces you to evaluate your finances regularly, allowing you to make a plan for every single dollar before you spend it.
How It Works
Instead of making a monthly budget, you'll make a budget every time you get paid. This could be weekly or bi-weekly. It works well for those who:
- have regular paydays.
- are paid more than once a month.
- run out of money before paydays.
- are new to budgeting.
- aren't sure where their money goes.
- want to learn more about budgeting.
How To Do It
Using a payday budget planner is relatively straightforward. You just need to follow these steps every time you get paid:
- Write down the amount you were paid. You can do this digitally or with the old-fashioned pen-and-paper method. It's entirely up to you. Some people find it's easier to hold themselves accountable when utilizing paper.
- Write down all your monthly bills and their due dates. Go through your past bank or credit card statements to do this. These will probably include your rent or mortgage, cellphone, utilities, insurance, and subscription services.
- Set a limit for your variable expenses. These include daily living spending like eating at restaurants, buying groceries, buying clothes, going out, and more.
- Budget for irregular expenses. These occur annually or intermittently, like weddings, birthdays, car insurance, holidays, and vacations.
- Determine which expenses will be paid with which paycheck. Use your due dates to help with this.
- Make a plan for leftover money. This extra money can be put towards your financial goals.
What Can You Do If You Run Out Of Money Between Paydays?
Even with the best payday budget planner, life will throw you curveballs that you don't have enough money to cover on your own. But luckily, you can get a payday advance to deal with the extra costs.
With this type of loan from Carolina Payday Loans, Inc., you can borrow as little as $100 and as much as $550 to fund unexpected situations. But that isn't the best part — you can obtain this money without having a stellar credit rating!
All you need to get a payday advance from us is a government identification, a blank check, and your most recent pay stub. Our process is as straightforward because we know how hard it is to deal with extra procedures when you're handling unexpected life stressors.
Simply follow these steps to get payday loans:
- Use our online form to send us your payday loan request.
- We'll call you to go over the details and requirements. We'll also give you a time to come into our store for the face-to-face portion of the loan process (we do not offer a completely online application).
- When you arrive at our branch (don't forget your documents), we'll verify your identity and assess how much you can borrow.
- If you are happy with the amount we offer, sign the paperwork to confirm you agree with the terms and conditions of the loan. We'll show you where to sign.
- Finally, you will get the amount you're eligible for within 48 hours.
It doesn't get much easier than that!
Get A Payday Advance From Carolina Payday Loans, Inc.
Now you know exactly how a payday budget planner helps with budgeting between paydays, you're ready to tackle your monthly outgoings better than before. But always remember that a payday advance is there to help you cover life's unexpected curveballs, not frivolous spending habits.
Just complete our online form with your basic information, and we'll give you a call to discuss the process and requirements. You could receive the money you need in as little as 48 hours!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.