Building
a Budget
Step one: add up your income
To set up a monthly budget, you need to determine how much take-home
pay you get on a regular basis. If you get paid once per month,
this one is easy - it's the amount of your check that you "take
home." If not, you'll need to do some math.
If your check does not come monthly, use the following chart:
- For weekly checks, multiply by 4.333
- For every two weeks checks, multiply by 2.167
- For twice a month checks, multiply by 2
- For irregular annual income, divide by 12
You also want to make sure you add in other sources of income, such
as interest income, alimony, child support, rent, or other payments.
You should add all of these sources into your plan, as well.
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