I get paid monthly he gets paid weekly

scrimpingannie wrote: »

Thanks for the advice everyone. I must also point out that OH wages fluctuate weekly according to hours worked, overtime etc.
I will take your advice on board and have a go.
My main aim is to set up a spreadsheet to see where our money is going.

If you have fluctuating wages a good strategy is to work on the low ball weeks pay and put any excess to one side for extras.

Do an annual budget(plan) that balances based on a low end wages

that will build up some spare from the overtime etc and you can add a discretionary spend when that gets big enough like have a slightly better holiday or an extra meal out on a good week(but remembering this was a treat on OT money)

The spending diary will help a lot much easier to find the places you can cut back a bit when you know where all the money goes.


One problems you often get with the variable pay is the tendency for spends to creep to the higher weeks pay especially if you get a few in a row. then when you get "normal" weeks pay like a weeks holiday you feel short.

<quote>Monthly standing Oder from you, weekly standing order from him.

Pay into joint account that you never use for anything other than bills.

Make sure you are funding it with 10% more than is required. Never let the balance drop below a minimum float amount of say £250.

And track every spend on all accounts. The desire to be frivolous often is an evil to good budgeting! <quote/>


This is so good it needs to be said twice!


My DH is currently paid four weekly, while I'm paid on the last day of the month. At one point, he was paid fortnightly. We operate on a "yours, mine, ours" basis for banking. From the very dawn of time, we have had a separate joint account, out of which all the joint bills are paid by direct debit or standing order. Neither of us have cards for this account (we shred them when they arrive). For travel costs, etc, e.g. if something needs to be done on his car, he pays for it from his own account, and vice-versa. Housekeeping is cash, taken out by each of us from our own accounts once a month.


We fund the joint account proportionally based on basic wages (excluding overtime, bonuses, etc, anything that can't be relied upon). We do the same for our joint holidays account and joint date-night-fund. It's only fair that, since I'm paid more, I contribute more. The goal is to end up with both of us having the same money-to-live-off /mad money each month, not having someone with tons of cash and the other party always relying on them to buy everything or going into debt to keep up. We have individual savings accounts for personal items - if I want a new iPhone, it's my responsibility to save up for it - but that money comes out of our individual money-to-live-off, not the joint money.


For your own spending, write everything down and deduct it from your money-to-live-off as you go. That way, you will know how much money you have left to spend this month. It takes seconds to whip out a pad and pencil and it makes you stop and think before you spend. (Or, at least, that's my experience.)