Why You Should Budget Weekly For Growth


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Sometimes we get lost looking at the big picture budget, while all the details that pull it all together fall by the wayside. Budgeting weekly will help you gain greater control of your money – How much you have available in a week is more manageable than a month. A month is a very long time to keep your finances in check as life sometimes gets in the way and we forget to balance things out. A week is a better time span to manage transactions and maintain a clear picture. It is easier to see the previous weeks expenses and track your progress from week to week.

So here is why and how you should put together your weekly budget. 

Why A Weekly Budget

I have been using a weekly budget for about a year now, these are the the benefits I realised: 

1. I can better anticipate, account and examine my weekly expenses. Particularly, my discretionary spending, that occurs more frequently, was more in control. I was also found that I was more prepared for the mandatory end month expenses such as bills, utilities and rent.

2. I started thinking about my income in weekly terms as I was trying to balance out my expenses. This has pushed me to think bigger and how much I earn has increased per week.

3. The shorter planning time has resulted in fewer transactions per week and opportunities to adjust my budget if need be. This has made it easier to manage my expenses as weeks can easily be compared to units of time. 

How to Create and Utilize A Weekly Budget

If you find that you cannot keep up with your monthly budget and need help to gain better control of your spending, they try a weekly budget. Here is how to go about it: 

Note Your Weekly Spend

Find out how much you spend on a weekly basis and then place that as a spending ceiling cap. How much you spend per month, divide by how many days there are in a month and then multiply by seven to find your weekly spend. 

Note that weekly budgeting focuses on discretionary expenses only. These include the following:  

Non-Discretionary (Mandatory)

Mortgage/RentUtilities – Water,
Insurance Premiums
Telephone/Mobile Phone Bill
Monthly subscriptions – Newspaper, TV & Other streaming services, InternetGym/Yoga Membership
Auto insurance premiums (yearly)
School Fees

Discretionary Expenses (Contingent on lifestyle)

Car Fuel
Public Transport Fare
Food (eating out, drinks, groceries)
Personal Spending
Household Spending

Learn More: How To Make A Budget

Schedule Bills & Divvy Your Income

Once you know exactly what your expenses are, create a schedule for when the bills are due e.g. your rent is due on the 30th of each month or your water bill should be paid by the 5th of each month.  Mark The exact date for the bull and ensure that you pay when the time comes. This way, you won’t miss the bigger things while you budget the smaller items on a weekly basis. 

After you map out your bills, share out your income accordingly. This won’t be perfect but you will have a better idea just how much you are spending on recurring, fixed expenses each week of the month. 

Learn More: 5 Amazing Personal Finance Apps that Make Life Easy

Taking Note of Your Actual Expenses

Take note of all your expenses – save receipts and study bank statements. Also, note your patterns of expenditure and then aggregate your actual expenses.  Compare them with what you earn weekly (earning per month divided by the number of days, multiply by seven).


Take note on what was done, how much was saved/invested and what was not in terms of spend.  Reflect for improvement. 

Learn More: 6 Keys to Successfully Manage Your Personal Finance


The idea is to create a system that serves your goal. Without systems, goal fulfilment becomes very difficult. Over time, you will work your way to a comfortable budget that allows you to live well and not compromise achieving your goals. 

Generally, it is difficult to budget your money. However,  breaking down your large monthly/yearly budget into a weekly budget can reveal how much you spend in any given week and make managing money very easy. Ultimately, you will find that it is easier to live within your means, paying off your debts, and saving for the future. 

So, if your monthly budget isn’t working for you, try creating a weekly on. 

And, if you are already budgeting on a weekly basis, let us know how that has helped and what you’ve found challenging about it in the comment section below. 

Happy Planning!

Image credits: Top by Pixabay via Pexels.

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Irene Makanga
Irene has an MBA in Finance and is an avid businesswoman, passionate about financial literacy.


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