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Convert your annual, weekly, or hourly income to a monthly figure.
Annual / 12 = Monthly. Weekly × 52 / 12 = Monthly. Hourly × Hours × 52 / 12 = Monthly.
Result: Monthly: $5,000, Annual: $60,000, Weekly: $1,153.85
Average is 4.33 weeks per month (52 weeks / 12 months).
This calculates gross monthly income (before taxes and deductions).
Multiply your bi-weekly paycheck amount by 26 pay periods, then divide by 12 months to get your average monthly income for budgeting purposes.
Use net take-home pay for budgeting since that is the money actually available for expenses, savings, and discretionary spending after all deductions are taken out.
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