Budget Suggestions and Weekly Cash Flow Tool for Employees
Budget
Suggestions
If you do not have one already, it is always helpful to have a
personal or family budget. This will be especially helpful as you
prepare for the transition to bi-weekly pay because of the change
of when you receive your paycheck and the amount of each paycheck.
The following is a sample of what a budget may look like.
SAMPLE:
Weekly Cash Flow
Tool
Instructions for Weekly Cash Flow Budget
Tool
The Weekly Cash Flow Budget spreadsheet was created to help you
plan for the new pay cycle. Click Here to
download.
While routine bills such as a house payment or car loan continue
to be due on the same day of each month, the bi-weekly payroll will
be received on different days each month. A weekly cash flow
budget will help identify if you will have adequate resources to
meet your obligations each week.
The spreadsheet allows you to enter your planned income and
expenses in weekly columns. Each week begins on a Wednesday
to correspond with the new payroll cycle.
Before you begin entering data, create an estimate of your
bi-weekly pay using the spreadsheet tool: Bi-Weekly
Net-Pay Estimator.xls.
Enter data as follows:
1. Enter the estimated payroll amounts obtained above in the
cash flow spreadsheet on the line labeled "City Paycheck".
2. Enter an estimate of the beginning cash balance for August 10.
3. Enter other sources of income.
4. Enter expenses for each week.
You may create or edit income and expense categories and payment
due dates to fit your needs. Totals are automatically
computed and the ending cash balance for each week is carried over
to the following week.