I am a budgeting, coupon clipping, deal finding, checkbook balancing
But I do think the way I have my bills set up is a pretty nifty way to stay on track, so I decided to share my philosophy.
I get paid weekly, so I took all of my monthly bills and by due date and amount, split them out so there was approximately an equal amount to pay each week. I looked those over, round up to the next hundred and came up with a number to use as my Minimum Output Per Week.
I get paid hourly, and my MOPW ends up being approximately equal to 31 hours of work. I work 40 hours a week, give or take.
Each week I pay in bills the same exact amount, my MOPW. Any money that is left after regular bills goes to paying off debt, up to the MOPW. Any money I make over that amount is what is left for “fun money”. Sometimes I work a full week and end up with extra, and sometimes I just barely make the threshold. It doesn’t matter- I always pay out the same.
Also, I based a month on 4 paychecks and just repeat them every 4 weeks. So I end up ahead, and about once a year I get so ahead that I have an entire paycheck free. It’s awesome.
I like this system. It helps add extra money to my regular debt payments, and gives me a nice stable amount I know I need to make. It’s clean and easy and it works for me. Just thought I’d share.