Free Biweekly Budget Template To Watch Your Savings Multiply

Struggling to make your paycheck stretch? A biweekly budget could be the game-changer you need!

By aligning your spending with your pay schedule, you’ll stay on top of bills, build savings faster, and take control of your finances—without feeling overwhelmed.

Ready to watch your wealth grow one paycheck at a time? Let’s break it down!

A biweekly budget planner ensures you have enough funds to cover expenses for each two weeks. It aligns nicely with your pay cycle if you get paid twice a month.

How to Use the Biweekly Budget for Wealth

First, downlad the template below and print it out. Then, follow these steps to get started!

1. Collect your pay stubs and income sources. Figure out exactly what you see each paycheck and write it on the template.

2. Set your savings goal. It can be adjusted later as needed, but you always want to be looking toward your future goals and dreams too.

3. Gather your bills and known expenses. Create a list of your fixed bills (mortage, utilities, insurance) and your variable expenses (food, transportation, entertainment)

If needed, add due dates and when you get paid so you know when your bills overlap with your paychecks. Mark if multiple bills hit at once and you need to have extra savings to cover things.

4. Set a budget – you can even mark 1st or 2nd depending on what paycheck you want it to come from.

5. Track your actual expenses. By organizing and tracking this way, you clearly understand your financial spending every two weeks. At the end of the month, list your total expenses and the month end balance (income-expenses).

How did you do? Make any adjustments needed for next month!

3 Most Common Questions – Answered

What if your Earnings Vary Every Month?

This is something that happens to me too. If your earnings vary every month, create a budget based on your smallest paycheck. This step ensures you can cover expenses even if it ends up being a tighter month.

What are good savings goals?

Setting financial goals is crucial for motivation on a biweekly budget. But make sure they are realistic and specific goals. I try to write them down and visualize them on a money vision board.

Some goals to consider:

• Pay off credit card debt
• Build an emergency fund
• Save for a vacation
• Save for a house or car
• Save for kids activities in a sinking fund
• Invest in stocks or real estate

Can you do the 50 30 20 Rule With Biweekly Budgeting?

Yes! The 50-30-20 rule states that you should allocate 50% toward essential needs, 30% toward wants, and 20% toward savings. Split these numbers between your two paychecks to make it biweekly.

You can also do a zero based budget approach with your new biweekly budgeting.

What if you don’t have enough money?

If this is true, you are not living below your means, and you need to make adjustments. Here are questions to ask yourself if your budget is over:

• What in my budget is a “want” and not a “need”?
• How much am I eating out on a weekly basis? Can I swap for cheaper meals?
• Can I cut back on vices like alcohol, cigarettes, or unnecessary junk food?
• Can I make more money? (side hustle, work hours, etc.)

Pros & Cons Of Biweekly Budgeting

Pros

• You give your paychecks a “job” and are specific about where you want your money to go. This almost always leads to more mindful spending because you have a clear spending picture.
• More frequent budgeting helps you stay engaged with your finances.
• The biweekly budget matches well with pay schedules. This can help keep you from running out of money before the next paycheck.
• This budget helps you save by setting a specific goal.
• You can create a new budget every single month to fit the exact seasonal income and expenses you need. (How flexible!)

Cons

• Budgeting requires frequent monitoring and adjustments. You need some self-discipline. But you can do this!
• If you don’t have biweekly paychecks, this budget may be more detailed than you need. Try one of the other 12 free budget templates on this site instead.

“If you don’t decide what your priorities are in life, everyone else will decide for you.”

— Christy Wright

Free Biweekly Budget Template Pdf

Grab your biweekly budget template below. There’s one copy with examples and one that’s blank so that you can fill in your own.

What’s Next?

Grab more of the best budgeting tips, plus free resources below!