{"id":20677,"date":"2021-07-21T13:41:33","date_gmt":"2021-07-21T17:41:33","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=20677"},"modified":"2022-01-26T11:24:26","modified_gmt":"2022-01-26T16:24:26","slug":"employee-budgeting-dailypay-2021","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/","title":{"rendered":"Budgeting"},"content":{"rendered":"\n<p>Budgeting can seem like a daunting task, especially after <a href=\"https:\/\/issuu.com\/jeannieywalden\/docs\/her-money-jeanniey-walden-2021\/s\/11555957\" target=\"_blank\" rel=\"noreferrer noopener\">this past year<\/a>, but it\u2019s an important one.&nbsp;<\/p>\n\n\n\n<p>Here are some reasons why budgeting is extremely important:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Ensures that you will always have the funds that you need to meet your expenses&nbsp;<\/li><li>Leads to a happier retirement<\/li><li>Helps shed light on bad habits<\/li><\/ul>\n\n\n\n<p>There are multiple ways you can budget depending on your preference. You can budget by hand, in a notebook or folder or electronically. There are multiple budgeting apps and websites you can use, or you can create a simple spreadsheet.<\/p>\n\n\n\n<p>To make budgeting simple, we have broken it down into four easy steps:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Compile your financial information \u2014 Gather any of your personal financial information, including (but not limited to) bank statements, investment accounts, recently recurring bills, W-2s and recent pay stubs, receipts and loan statements.<\/li><li>Determine your net income \u2014 calculate how much you earn AFTER taxes and other withholdings<\/li><li>Determine your expenses \u2014 separate variable expenses from fixed expenses<\/li><li>Adjust expenses \u2014 if they are higher than your income, figure out if there are expenses you can cut<\/li><\/ol>\n\n\n\n<p>DailyPay\u2019s <a href=\"http:\/\/dailypay.com\/pay\" target=\"_blank\" rel=\"noreferrer noopener\">PAY<\/a> and <a href=\"http:\/\/dailypay.com\/save\" target=\"_blank\" rel=\"noreferrer noopener\">SAVE<\/a> products can be utilized as budgeting tools.<\/p>\n\n\n\n<p><strong>PAY <\/strong>can be used for bills that are due in between paychecks. By using PAY, instead of waiting for your next paycheck, you will be eliminating potential overdraft fees and financially detrimental payday loans.&nbsp;<\/p>\n\n\n\n<p><strong>SAVE<\/strong> can be used to ensure that you are continuing to add money to a savings account. This feature allows you to save a certain amount of money automatically every pay period, or you can just add money to your savings account whenever you want to.&nbsp;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Looking for more financial wellness tips? Check out our <a href=\"https:\/\/www.dailypay.com\/financial-literacy\/\" target=\"_blank\" rel=\"noreferrer noopener\">financial wellness resources<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budgeting can seem like a daunting task, especially after this past year, but it\u2019s an important one.&nbsp; Here are some reasons why budgeting is extremely important: Ensures that you will always have the funds that you need to meet your expenses&nbsp; Leads to a happier retirement Helps shed light on bad habits There are multiple<a class=\"read-more\" href=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/\">Read More<\/a><\/p>\n","protected":false},"author":32,"featured_media":20682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[145],"tags":[566,36,391],"class_list":["post-20677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-literacy","tag-budgeting","tag-on-demand-pay","tag-saving-money"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Budgeting - DailyPay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budgeting\" \/>\n<meta property=\"og:description\" content=\"Budgeting can seem like a daunting task, especially after this past year, but it\u2019s an important one.&nbsp; Here are some reasons why budgeting is extremely important: Ensures that you will always have the funds that you need to meet your expenses&nbsp; Leads to a happier retirement Helps shed light on bad habits There are multipleRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/trydailypay\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-21T17:41:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-26T16:24:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"DailyPay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DailyPay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Budgeting - DailyPay","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/","og_locale":"en_US","og_type":"article","og_title":"Budgeting","og_description":"Budgeting can seem like a daunting task, especially after this past year, but it\u2019s an important one.&nbsp; Here are some reasons why budgeting is extremely important: Ensures that you will always have the funds that you need to meet your expenses&nbsp; Leads to a happier retirement Helps shed light on bad habits There are multipleRead More","og_url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/","og_site_name":"DailyPay","article_publisher":"https:\/\/www.facebook.com\/dailypay","article_author":"https:\/\/www.facebook.com\/trydailypay\/","article_published_time":"2021-07-21T17:41:33+00:00","article_modified_time":"2022-01-26T16:24:26+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png","type":"image\/png"}],"author":"DailyPay","twitter_card":"summary_large_image","twitter_creator":"@dailypay","twitter_site":"@dailypay","twitter_misc":{"Written by":"DailyPay","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#article","isPartOf":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/"},"author":{"name":"DailyPay","@id":"https:\/\/www.dailypay.com\/#\/schema\/person\/0dc5e72435b747402bdc50b62513acd9"},"headline":"Budgeting","datePublished":"2021-07-21T17:41:33+00:00","dateModified":"2022-01-26T16:24:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/"},"wordCount":289,"publisher":{"@id":"https:\/\/www.dailypay.com\/#organization"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png","keywords":["Budgeting","On-Demand Pay","saving money"],"articleSection":["Financial Literacy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/","url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/","name":"Budgeting - DailyPay","isPartOf":{"@id":"https:\/\/www.dailypay.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png","datePublished":"2021-07-21T17:41:33+00:00","dateModified":"2022-01-26T16:24:26+00:00","breadcrumb":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/employee-budgeting-dailypay-2021\/#primaryimage","url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png","contentUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-budgeting-dailypay-2021.png","width":1200,"height":628,"caption":"A person sits at a desk with a calculator, pen, and several papers or receipts, seemingly working on finances. 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