Weekly and Bi-Weekly Budgeting Solutions

by on December 11, 2012

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I’ve been getting requests for weekly and bi-weekly versions of my budget templates. One approach is to just modify a monthly version to make it work for a weekly budget (Solution 1). But, I’ve also added two new weekly budget spreadsheets (Solutions 2 & 3).

Solution 1: Converting a Monthly Budget to a Weekly Budget

Personal Monthly Budget

For some budget templates, the only thing that makes them “monthly” vs. “weekly” is the label at the top of the worksheet. You can convert the following budget templates to weekly versions by simply changing the title of the template:

You can make copies of the worksheets, as new tabs in your workbook, to create budgets for more than one week.

Solution 2: NEW Weekly Budget Planner

Weekly Budget Planner

Most people have both fixed and variable expenses. Spreadsheets like my personal budget and family budget planners can be helpful for listing expenses in the month that they will occur. That’s where the new weekly budget planner comes in.

It’s possible to just change the labels in the family budget planner to week numbers instead of months. But, for a weekly budget you’d likely want more than just 12 columns. That type of change is a bit more difficult, so I created a new Weekly version of the Family Budget Planner that includes 26 columns. That allows you to plan either a year ahead for a bi-weekly budget or 6 months ahead for a weekly budget.

Solution 3: NEW Weekly Money Manager

Weekly Money Manager

I created this template as a cross between my monthly budget template and the more powerful money management template. The goal for this weekly money manager was to simplify the customization of categories while maintaining the power of listing Transactions for multiple accounts.

There is no Help worksheet included with this template, but the Help worksheet in the money management template can explain the principles needed to enter Transactions.

To track your budget for the next week, you would make a copy of the worksheet tab. Then update the time period, clear out the transactions, and update the carry over balances.

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{ 20 comments… read them below or add one }

Sandy McMichael December 11, 2012 at 7:45 pm

Excited to test drive the new weekly budget tool. Is something up though with the fomula’s starting in D7? I have it set to weekly, and it seems to be adding the ’7′ to both the month and not the day, so after January 8, I get August 15th. I’m not smart enough to fix that on my own!

Reply

Jon Wittwer December 12, 2012 at 12:28 pm

@Sandy, I was unable to produce the result you were seeing using Excel 2003 and Excel 2010, but I did find a bug in the formulas in row 7 of the weekly-budget-planner.xls file. I’ve uploaded a new version.

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ALonDO December 16, 2012 at 3:30 pm

hi,

i try to use ur tool (Money Manager) and i cant find the list of ** ACCOUNTS ** to change some entrys. For Example Babscard into ALsCard…. where can i change that?

‘Thnx

Reply

Jon Wittwer December 17, 2012 at 10:00 am

@ALonDO … In the Money Management Template, the list of accounts is actually in the Help worksheet, right next to where it talks about them.

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John Brush December 18, 2012 at 11:46 pm

I absolutely love your excel templates

Thanks,
John

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Jay January 15, 2013 at 1:48 pm

Would like to use the Weekly Budget Planner and change to bi-monthly. Can’t figure out how to do that. Could you help? I get paid on the 15th and last day of each month.

Thanks,
Jay

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Jon Wittwer January 15, 2013 at 6:24 pm

@Jay … You can enter dates manually in row 8 instead of using the formulas for changing the dates. You could then delete row 7.

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Jerod May 1, 2013 at 1:49 am

Do you happen to have any solutions for a household budgeting system whereby one income is steady and the other income varies from month to month due to self employment?

It can be 2-3 months before I get a check, however my wife is paid bi-weekly. Just wondering if you had any ideas. I would like to have a profit/loss for my business, and then set a budget after business expenses, taxes, etc have been allocated for.

Your website is absolutely amazing and I really like what you’re doing. I have been using the money manager, but feel that while it does a good job, it doesn’t offer exactly the solution that I need.

Reply

Jon Wittwer May 1, 2013 at 7:49 am

@Jerod, Hmmm … the money manager is what I would have suggested because it allows you to enter different income/expenses for each month of the year to handle variable income. What exactly is it about the budget worksheet in the money manager that doesn’t work for your situation?

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Polly May 28, 2013 at 1:06 pm

When entering my monthly income on the budget tab, I used gross; however, when entering my deposit on the transaction tab, I used the actual deposited (net) amount. When looking at the report tab, it appears I have not met my budget. How do you take this into account? Do I not enter gross income with deductions (taxes, 401K, fsa, etc.) listed below:?

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Jon Wittwer May 28, 2013 at 1:35 pm

@Polly, if you do need to keep track of the amounts withheld from your check as “expenses” then you could enter a paycheck as a split transaction with the gross amount deposited into the income category and the amounts withheld listed as payments to various expense categories.

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Polly May 29, 2013 at 12:35 pm

Then the account balance on the transaction tab is not correct? Or do I need to do two transactions for these “expenses” – one as an expense against the income going into checkings and one as a deposit into the expense account (savings, 401K, etc)?

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Jon Wittwer May 30, 2013 at 7:36 am

@Polly, it’s hard to know exactly what to tell you without knowing how you have your accounts and budget categories set up. You can email me with more specifics. If you had 401K as an expense category (as opposed to an “Account” that you are tracking), then a simple split transaction example would be total income of 1000 deposited into Checking (Account=Checking, Deposit=1000, Category=Wages) and then 100 entered as a Payment from Checking to the 401K category (Account=Checking, Payment=100, Category=401K), which would result in a net deposit into Checking of 900, but the report would show Wages of 1000 and 401K expense of 100.

Karen December 1, 2013 at 2:10 pm

Hi, I use OpenOffice. When I try to copy the sheets to new tabs to create a workbook for the year, I find that I cannot print any but the original sheet. All formulas work fine, just no option to print any but the original. What am I doing wrong?

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Jon Wittwer December 1, 2013 at 5:21 pm

@Karen, you might try removing the existing print areas and redefining them. But if that doesn’t work, I’m not sure what would be going on in OpenOffice to prevent you from printing.

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Salley Dowsett May 25, 2014 at 12:11 pm

I downloaded the budget worksheet for open office. I love it. Easy to use and adapt. I have created my own in the past but wanted to find something a little more user friendly to share with others.

Thank you
Salley

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David May August 4, 2014 at 1:03 pm

I am currently using the weekly budget spreadsheet and this is very handy where I can record each individual transaction. However, I am wanting to record each individual transaction for the whole month instead of weekly. The dilemma I am having is there isn’t enough transaction area for the whole month. Would you be able to upload or tell me how I can copy and paste a couple more of the transaction sheets so that everything is still figured within the formulas?

Thank you!
David

Reply

Jon Wittwer August 4, 2014 at 5:52 pm

@David, I assume you are talking about the weekly-money-manager.xls file. If so, try selecting cells F66:M100 then right-click on cell F66, select Insert and then “Shift cells down”. This should end up giving you room for more transactions and keep the other formulas working.

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Rachel August 16, 2014 at 12:08 pm

Hi, I’m wondering if the biweekly version on the Family Budget planner might ever be available for Google Drive?

Reply

Jon Wittwer August 18, 2014 at 10:10 am

@Rachel, I’ve highlighted this template in my list of templates to convert to Google Drive. However, I wouldn’t hold my breath on that. You could try uploading the xlsx version to Google Drive.

Reply

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