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How to Make a Free Biweekly Budget Template

Designing a biweekly budget template can prove an effective method for managing income and expenses normally paid out on a monthly basis, where individuals can track and maintain their budget to reflect a two week period. You can create a free budget template using excel or other online document programs by following some basic principles to reflect a biweekly period.

Why Budget Biweekly?

Many budget templates are designed to reflect monthly reporting, however sometimes it is effective to design a template for a two week budget period or on a biweekly basis.   Since payments are often made on a monthly basis it would seem likely that biweekly budget tracking would prove irrelevant and sometimes even confusing, but as many family heads are payed every two weeks or at least twice a month and many monthly or weekly pay periods fall on different pay dates, some credence can be given to this budgeting format for expense tracking.

Free Tools You can Use Online

You can use a number of software applications as well as free documents online to create your biweekly budget template.  Software applications such as excel offer the ability to list out tables and categories to compare income and expenses and track budget amounts on a goal comparison basis for any budget period you designate.  Other free document programs include Google Docs where you can find and use budget templates that are already created and modify them or design your own using a blank template.  There are even expense tracking programs that can tie directly into an online banking account.

Making your own Biweekly Budget Template

  1. Determine a program to use to make your biweekly budget template.  Find a calendar either online or printed and record all your income and expense amounts on it by date.  Most smartphones have built in calendars to list out your data as well.
  2. Use your software or document program to create budget categories such as income, must pays, necessities, savings, discretionary, emergency funds, etc.  Start with your income sources at the top and then list all you expenses by priority.  Group any amounts you receive or pay out in the first two weeks under it's appropriate category.
  3. Money you receive such as salary, commissions, bonuses, or other income payments earned in the first two weeks would be grouped and listed out under your income category.  Must pays would include mortgage, auto, insurance, etc. that have set pay amounts that usually fall on the payment due dates.  Other expenses such as necessities such as food, gas, etc. should reflect an average spent over a two week period.  
  4. Continue listing until all amounts received and payed out until all are accounted for.  Set your template up as a table to list categories and types of income and expenses from top to bottom along the left side of the table and use your rows across to label adjacent columns to reflect budget projected amounts, actual amounts, and difference over or under budget.  Rows can be figured across to reflect and adjust amounts by type or category of income and expense and total down to reflect amounts for the entire two week period.
  5. Put in a category labeled biweekly totals after you have listed all other amounts for the two week period to record totals for projected, actual and difference over or under budget.
  6. Repeat the process above to list out and record all income and expense amounts to reflect your next two weeks again including your totals for you next biweekly budget at the bottom of your template.

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