bi weekly pay schedule This is a topic that many people are looking for. thetruthaboutdow.org is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, thetruthaboutdow.org would like to introduce to you How to Stop The Biweekly Pay Headache!! . Following along are instructions in the video below:
“You re like most people you get paid every other week and i m sure sure you know by now that it can be a pretty big headache when it to navigating your expenses throughout the month. Trying to line up those paydays. It can turn into a mess. Well today.
I have a solution for you hey guys craig here. And i m a financial coach who s passionate about helping people take control of their income and one way to do that is harnessing our paychecks. Now if you get paid bi weekly. Like i said at the top of this video.
It could be a headache right so sometimes your paid on the first sometimes your paid on the seventh. Sometimes the twelfth you never know when that check is gonna be it always kind of offsets itself. But unfortunately our bills are pulled on the same day of the month. So if you have an electric bill that gets pulled on the third.
But that month. You re not getting your first paycheck until like the sixth. It becomes this big headache that we try and navigate now i have a few other videos that i ll drop in the description below for you that show some ways that you can really get through this planning out when you re gonna take those extra paychecks all that stuff. But today.
I m coming with a perfect solution for navigating the biweekly pay schedule now before i get into it i want to offer you my free financial freedom roadmap. If you haven t snagged this yet. It is a step by step guide out of the paycheck to paycheck cycle. And it s completely free my gift to you just click up here on the link or in the description below and i will email that directly to you alright here s my trick to navigating that biweekly pay scale.
What we want to do is we want to fill up enough money equal to your paychecks and we want to set that aside in fact i want you to go open a separate checking account. That s linked to your current. One you can do it online with most banks just open one..
It s usually completely free and make sure that first. I don t want to spend the money on a second checking account. But open up a free one that s linked to it what we re gonna do is we re gonna save up enough money equal to your paychecks so let s say you ve paid 1500. Every other week well we re gonna save up 1500 bucks.
Now what an easy easy way to do that is to take that extra paycheck that you get you get two of those a year. If you re paid bi weekly that s because there s 20. If we re get paid twice a month that s 24 checks a year well there s 52 weeks in the year. So if every other week you re getting paid that s 26 checks.
So there s two extra checks you re gonna get throughout the year. So if you could map out when to find that take that money and stick it into this checking account now. We re gonna use that and then you can decide when you want to get paid. I think the best way to show you is just to jump into my computer here.
And i m going to kind of walk you through what this might look like so let s move on over here to my computer. And we re gonna say in the month of may let s pretend that you get paid on the 10th of the month. Okay so we re gonna say you get paid on the 10th and the 24th now maybe you want to get paid on the 1st and 15th maybe. That s what you would rather do it s a lot more it s a lot easier to follow so we fill up that account with 1500.
That s your your paycheck every other week. Okay so it s filled up then on may 1st you can transfer it over it s like you re giving yourself a paid to your paycheck and you transfer. It over to your normal bank account. You use it as you would normally pay your bills.
Follow your budget and all of those things then when you would get paid. Normally like i said let s say the 10th it goes straight into that exit that second account and it just sits there until you re ready for your next. Pay day which..
We said is the 15th so you paid yourself on the 1st and then we refill it on the 10th when you get paid then you pay yourself you take it out on the 15th. And it gets refilled on the 24th and so at all times. There is either 1500 in that account or there is zero you re never going to pull from it when there s zero. Obviously so there s nothing to pull from it s basically like you re holding your check there until you re ready for it.
But in order to do that we have to save up enough to a check. So that way you can do those things okay. So we took it on the 15th. It refills on the 24th of may okay then on the 1st of june you can go ahead and transfer it over and it s payday for you.
But you get your next check on june 7th. So it s two weeks away then you would pull so you got. Fifteen hundred in that account again you would pull it out on the 15th and the new to refill itself on the 21st. Okay so still going through you would pull it out on july 1st.
It would refill itself on the 5th. So you see how these dates are starting to the gap is starting to close so now we pulled it out in the first it s back in on the fifth when you get paid. Fifteen hundred it s in there we re gonna pull it out on the 15th then when you get paid again on the nineteenth. We re gonna put it right back in that second account and then you re going to the next time.
You would get paid is the second so you see august would be closing the gap to even really close. So you would pull it out on the first put it back on the second pull it out on the 15th put it back on the 16th. When you get paid and then here s what i why i m walking you through this you re like okay. This is getting redundant.
But here s why i m doing this because this will highlight when you get those extra paychecks and it makes it a lot easier moving forward because so you pulled it on the 15th you got paid from your employer on the 16th. So it s back in there. Well you re not gonna pull it out until the 1st..
But you re gonna get another check on the. 30th so suddenly you have 3000 in that bank. Account which means that 1500 of it when you pull. 1500 out on the first you have an extra 1500.
That s your extra paycheck that s what you would taking you a dump on your debt snowball. That s what you re taking putting your emergency fund. If that s what you re saving and then you just keep going like we described pull it out put it back pull it out put it back this is one way to navigate it it takes a little work upfront especially if you re way away from getting an extra paycheck especially. If you re already feeling strapped for money.
What you can do is just in your budget. Whatever you can squeeze out maybe for the time being just move it over there and start saving up for that paycheck if it s gonna take you longer than two three months to do that i probably would hold off especially if you re in debt. If you re out of debt you can do that take some time to build it if you re trying to school get out of debt you might put this on the back burner knock out some of your debts snowballs. I don t want you prolonging your debt snowball by months because you re trying to save this buffer account.
So knock out some debt get some breathing room and then you can go back and revisit this guys. I do i have a financial coach for a living. I love work and budgets with people and helping them navigate these types of things if what i threw at you was confusing. I would love to offer you a free 30 minute session where we can organize this specifically for you all you gotta do is click the link in the description.
There s a completely free my gift to you we ll hop on a video call just like this and we ll get this set up so that way you can start running and winning. When it comes to being paid bi weekly. If you have any questions be sure to drop those in the comments box below and guys i would love it if you d subscribe to my channel. So that you can catch more videos just like this and we can hang out again otherwise.
I ll see you next time thanks. ” ..
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“Getting paid every other week can be a pain! With constantly changing paydays, how can anyone get ahead?! nnThis video shows you one way to cure the biweekly pay schedule for GOOD!nn******nGrab your FREE financial freedom roadmap at https://www.fundingfreedomu.com/roadmapnn******nReady to kick the paycheck to paycheck cycle? Book a free Financial Kickstart session with me at https://www.calendly.com/craigdacy/youtube”,
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