How To Break The Paycheck to Paycheck Cycle | The Half Payment Budgeting Method

[@TheOrganizedMoney]

Day 2 of Vlogmas! Today's video is on how to break the paycheck to paycheck cycle with the Half Payment Budgeting Method.

[@anndoll221]

Instead of averaging my bills individual bills like electricity, I used my highest bill as my standard. After that I calculated all the highest bills and built up a buffer in my checking account to cover the highest off all regular bills. I also have a warning at the bank that texts me when my account falls below my buffer. Generally, the first of the month is heavier than the back end and this helps me maintain a certain comfort level.

[@sherrystephens6173]

I get paid every week, so I split by bills in fourths and it has been a major game changer in how I pay my bills. Excellent video!

[@TheOrganizedMoney]

That’s how I do it too!!

[@naeluvsGCH]

I used to do half payments every two weeks and before I knew it I was 3 months ahead of all bills! For some reason I stopped doing it and this video inspired me to start again! So excited for this vlogmas series!

[@TheOrganizedMoney]

Yes! It’s helped us so much!!!

[@jv_25_4eva]

Wow! 3 months! That’s great! This is my goal. How did you end up 3 months ahead? Did you just pay on the bill every time you got paid?

[@betty.thepennysaver872]

I started to split our rent (biggest bill) into 2 paychecks and keeping it on our account. Never thought about paying half into the account. Since our rent is online, I need to check and see if we can pay ahead half just to make sure we don't spend it. So far we have been good with not touching it.

[@altaneri6980]

We were able to get ahead 1 month on bills with my 3rd paycheck in May. It's been a life saver. My second check goes to our savings.

[@debbieainsworth8040]

I get paid once a month. Over the last few months I've been paying all of my bills around the 1st to make sure they're deducted immediately. That seems to be working for me right now. :)

[@MyAngelLovingLife]

I am so glad for this video! I tought myself to. budget this way in High School when I started earning money. This is how I save for our family vacations. Also, how I paid of my credit card. Thank you...

[@alaskancat]

I am loving your videos so much. When things seem so tough I just find you, and things just seem to make more sense. Thank you for that 💜

[@FineNaturalHairandFaith]

Hey Alaina I know this video is old but it’s timeless. I’m paycheck right paycheck and im Going to try this starting with my Dec checks since I get paid on the 15th and last day of the month. I’m really hoping I can get a handle on my spending this way

[@TheOrganizedMoney]

You got this!!

[@LuisCamacho-ud7vz]

I figured this on my own, Glad to know others do this as well. Thanks for making this, it was great.

[@TinaThevarge]

I really hope to start this method this month. It was completely impossible before now, but we were able to consolidate a large bill into a line of credit we already had. We couldn’t before now because there wasn’t enough room to absorb the bill, so we were forced to make 2 huge payments every month, leaving very little to budget for everything else. I know consolidating isn’t “paying it off”. It’s still debt we have to pay, but at least now it’s one large payment and more will go towards principal. Which to me is the beginning of our snowball. Before now we were basically just making minimum payments on the credit line, but now we'll be able to focus more than that and we will be able to start making progress paying down our debt.

[@kathleeny899]

Awe. I miss my kitty. Black cats are great!! The video was really good, I am trying to split the bills in half next month. Thanks for all you do!

[@trinajacobs-hughes8468]

Love the 1 month a head.

[@lenicelacourdia]

I believe this method will work best for me because it can help me manage my paychecks as they come. I actually believe this is the best method for me. I actually had a discussion about our utility expenses with my husband and sons and to watch this I got a better understanding on how to have money left and bills paid in full and on time. Thank you.

[@lizz741]

Yes...I do this with my rent...I get paid weekly so I direct deposit 1/4 of the rent total every week so by the 1st of the new month I have all the rent payment ready... 🐱💕

[@ItsMeLearyB]

This is a good idea!

[@lolacole5653]

My electric and gas companies allow us to get on a budget plan which averages a year for us so we know how much the bill will be each month

[@TKing19]

I just started doing this for this paycheck! Thanks for all the tips!

[@Harzeezreport]

Aww black cats! I love my three and they always want to be in the mix.

[@c.michellebaldwin1989]

I like this video...this seems doable for me.

[@LadyMochaJenn]

Love your Black cat!

[@snipehuntress7372]

OK so this seemed like the plan for me -biweekly pay. so I put it into google sheets for the entire year and yes, I could get a month month and a half ahead after a 3 pay month BUT I still did not have much in the way of savings. Then I compared it with my regular budget pay to pay and it appears that this way I save and get my debt paid in the same amount of time. So I don't think your plan gets me to a better place. I am low income and have no $$ left at the end of the month. Have high debt balance. am i missing something in your system?

[@specialk8927]

You remind me of the KZbinr girl from the Hinton

[@TheOrganizedMoney]

You have to tell me her name so I can look her up! ☺️

[@kitdubhran2968]

I always put half into the house bill account. For my personal credit cards, I actually just pay them half twice. Once each time I get paid. One problem this makes is if they close after you get paid. Then your payment counts toward the last billing cycle. So I keep track in my calendar when all my closing dates are and set aside the money for a certain bill if need be.

[@yosoylachichi]

Rent $926? Where do you live?

[@tt21292]

I had a large two bedroom with two walk in closets and a balcony with washer and dryer area in Texas for 733 bucks a month. It was right next to a college campus and in a retirement town