Where does my paycheck go?

Start with one full month

Download a statement from your bank app. Work with it privately; you do not need to send it to anyone.

Choose a complete calendar month. Gather your pay stubs, bills and card statement if you pay by card.

Use take-home pay, not your salary before taxes. Two $1,500 paycheck deposits give you $3,000 available that month.

Moving money from savings to checking is not another paycheck. Mark transfers separately before adding up income.

Ask two different questions

First: what left your checking account? Include bills, savings transfers and card payments to explain the change in its balance.

Second: what did you buy? Group purchases into housing, groceries, eating out, transport, subscriptions and other categories that fit your life.

Keep these views separate. If you include card purchases, do not also count the payment settling them as new purchase spending.

A $40 grocery purchase and its later $40 card payment are not $80 of groceries. Fees and interest are separate costs.

A card payment may cover earlier purchases. It still matters for this month’s checking balance and next payday’s plan.

Choose one change for next payday

Look at your largest categories first. Confirm fixed costs before choosing a flexible amount to change.

Pick something specific: a subscription you no longer use, or a monthly eating-out amount that still feels workable.

Write down the amount and the next payday. Leave room for costs that happen less often, like annual renewals.

Your first plan is a starting point. Compare it with actual spending next month, then adjust without treating differences as failures.

Consumer.gov’s making a budget guide offers a free worksheet and explains this monthly review.