Budget a 1200 bi-weekly Paycheck

Here is exactly how I would budget a $1200 bi-weekly paycheck. If you don't want to live paycheck to paycheck anymore, here is a simple budget you can follow that actually sets you up to build wealth instead of staying broke. First, you're going to pay your essential bills like rent, utilities, insurance, groceries. You're going to aim to keep this around 60% of your expenses, which comes out to $720. Next, you're going to pay your future self. Set aside 20% or $240 for your emergency savings fund. You're going to do this every single paycheck until you have 3 to 6 months of expenses covered in your emergency savings. After that, then you can take this 20% and put it towards other things. Next, you're going to set aside 10% or $120 for investing so you can not have to work a 9-to-5 grind for the rest of your life. I would put this into a retirement account, something like a Roth IRA or a low-cost index fund. Lastly, 10% you're going to set aside, which is another $120 for personal expenses, extra stuff, fun money basically. And if you don't need to spend this, this can roll back into your investment fund to get you to those investment goals even faster. A couple of tips to make this even easier on yourself is to set up auto transfers for your emergency fund to put that money right into a savings account. Another tip is don't put your money in a regular savings account, put it in a high-yield savings account that's actually going to pay you more interest on the money you're putting in there. My personal favorite is at the top of my page. And if you want me to break your paycheck up into a budget, put it in the comments and I'll make a video on it.