Its called the half payment budgeting method.
Youll only need half, which youll add to the money you previously set aside.
Probably not as good as youd like.
The half payment method splits the cost of your fixed bills in two so one paycheck covers one half your expenses and the next paycheck covers the other half.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Lets compare the differences between traditional budgeting and half payment budgeting.
In this example, your monthly take-home pay is $3,200.
Paycheck #2: $1,600
Youd have $685 left over.
Its not easy to stretch $25.
The half payment budgeting method looks considerably different.
Youd have $355 in excess during this pay period.
Youd have the same amount $355 left over.
Having a half-month worth of bill payments sitting in your checking account is good.
Having enough money to cover an entire month of payments is even better.
If you dont have excess money in your account, try a slow transition to the half payment method.
Take it one bill at a time.
Nicole Dow is a senior writer at The Penny Hoarder.
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