Why a weekly budget is the Best for beginners and How to create one!

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Why Weekly budgets are the best for beginners!

I’m sure you’ve heard of how incredibly helpful having a budget is to your financial success. If you haven’t, you should read this! Maybe you’ve heard of the zero based budget and other plans that are fully equipped with strategies and methods to get you saving in just a month’s time.

Just like with a diet, sometimes a month is just too long to see results. So, I suggest making a weekly budget instead of monthly. It’s easier than you think. When you’re first starting out with a new budget, it’s hard to know what to expect for a full 30 days. This weekly budget will help break everything down for you, into smaller size chunks that are easier to grasp.

 wallet- weekly budget

Especially for beginners, having an easy budget that you can track for a small period of time, will help you get used to working with a plan. If you’re brand new to budgeting, this strategy will help jumpstart your savings goals. It will also break down the idea so that your start into budgeting won’t be overwhelming.

There are so many advantages to creating a weekly budget vs. a monthly budget. Here are a few to mention.

You can use this budget method regardless of how often you are paid

This is the beauty of it. It is not limiting or restricting to a certain type of paycheck. You can use this budgeting method no matter how often or seldom you get paid. It’s universally helpful to everyone.

You can start seeing how small habits can add up from week to week

Sometimes when you’re starting on your budget journey, it’s hard to see if you’re making progress. It’s also hard to see if you’re making mistakes. Checking in every 7 days as opposed to 30 days gives you a greater chance of tweaking and perfecting your habits before the month is complete. You have a chance to change and correct things that aren’t working. It also helps you see your results sooner so you can spot the things that ARE working and continue those.

With a weekly budget, you can quickly accomplish short term goals in just 7 days

This is the most encouraging part of this method. You see results fast. They may not be big, but they’re there and they’re proof that you are on the right track. Every 1000 mile journey starts with one step. If don’t have mini-goals to accomplish, you may not feel motivated enough to continue on your savings journey. It’s important to have little motivating triumphs along the way.

You can plan ahead for weeks that may need more spending

new year goals

If you know you have a girls’ night out coming up or a happy hour with friends, you can save the money ahead of time. You can also re-adjust that week’s budget to accommodate the expense. You’re weekly budget is more flexible than a monthly budget, so it makes things easier to move around. The budget is as flexible as you need it to be in a given week. It’s fantastic!

You have more control over your day-to-day spending by taking it 7 days at a time

You can literally look at each day’s progress and make concrete decisions on tomorrow’s spending or saving plans. Breaking it down into smaller segments of a month makes it easier for you to keep track of your pennies, in and out. And those pennies I mention will soon turn in to hundreds of dollars in time.

It is easier for beginners

Starting out small with a weekly budget and gradually moving up to a monthly and yearly budget makes it easier to be successful with your money. Beginning with a budget is not always easy. But it’s highly recommended. Having a budget is the difference between being financially independent and being in debt. It tells your money where to go and gives you full ownership of your life.

I know it sounds like an exaggeration, but I’ve never seen someone who fully enjoys life without being financially secure and at peace. Those two go hand in hand.

Here’s how it works! It’s actually super simple. It’s only two steps!

1. Divide all of your expenses by 5 weeks (the average month is about 4 1/2 weeks, so I just round up)

Take all of your expenses for the month, including gas, groceries, car insurance, spa trips, whatever expenses you have, and divide them into weekly amounts. For example, if my grocery budget for the month is $300, I would have $60 per week for 5 weeks. Pretty easy.

2. Divide your income (no matter how many times you are paid) by 5 weeks

Be sure to use your actual take home pay for the full month. Look at your last paycheck to find out how much you get exactly. Then, divide this by 5 weeks. It’s a couple of extra steps, but it is much more simple to work with when the amounts are smaller.  

I’ve added a Weekly Budget Template in the FREE Resource Library for you. You can use it right now to get you started!

Until next time my frugal friend,


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