I keep doing it wrong

cady

Hiya,

i keep messing this up ive just got paid yesterday and i cant figure out what needs paying and what dont a SOA doesnt help me much as are bills are managed through a differnet account but i dont knnw how to organise it ......... i make lists and lists before payday but come the actualy day everymonth i cant organise myself its getting worse and worse any tips on how i can organise myself better????

Thanks

skint_spice

Hi Cady, Can you look at old statements and work out how much bills are and put that into the bills account?

Burlesque_Babe

How about popping an SOA up with where all the money goes, when and to which account? Many heads being better than one etc

MrsTinks

What do you mean you don't know what needs paying? Sorry you lost me there...
List all your outgoings etc (basically an SOA) and how much they are - you take the sum your bills are and transfer to the account you pay your bills from...
Or am I missing something

cady

hiya ive listed it all down and i have done it eveymonth but im finding keeping my bank account in order really hard ..... like ive said a SOA doesnt really appy as this is my account and all the bills come out of a joint account so its just my debt i struggle with not the bills

skint_spice

Can you transfer the bill money, work out what you need to pay (minimum payments), allow yourself some pocket money then overpay the rest to the debts?
I would find the payment a day challenge too confusing as I pay my overpayments in chunks and only pay extra if extra money comes in.

moo2moo

When you say you can't figure out what needs paying and what doesn't take a step back. Do you mean that you have more bills to pay than money and you're trying to figure out which not to pay????

Start a list with all the fixed amounts eg. direct debits, standing orders and the dates that they are paid and from which account.

As an example.

Phone Direct Debit £11.99 November 3rd Barclays account
Council Tax Direct Debit £60.00 November 13th Smile Account

Then start a list with all your variable amounts eg.

Food Friday £60 Smile Account

JES_F1

We have a joint account from which we pay all the boring-but-essential stuff (e.g. mortgage, gas, electric, council tax, TV licence, contents/building insurance, internet, Sky), all of which are paid by direct debit.

We worked out how much all these bills cost each month and divided by two, and then we both transfer that amount from our own accounts to the joint account. When anything goes up, we check to see whether we need to transfer more across (as we do round up bills to at least the nearest pound to ensure there's more than adequate in the account).

We then know that what's left in our own accounts can be used for everything else, such as food, toiletries, own debts, and mobiles.

I know it can be daunting, but you do need to write down all your outgoings and how much they cost each month. This is usually fairly straightforward as you can take the details off your bank statements or the bills you receive. It's more difficult to keep track of the things that easily get "lost" or forgotten, such as newspapers, magazines, lunch, snacks, coffees, and charity donations on dress-down day at work.

Once you've sorted everything out, post your SOA, and the great people on here will advise on where to make savings and where to get further advice.

Good luck and very best wishes. Once you've done it, it'll be a huge relief to have got it all sorted out.

tyllwyd

Why not get a calendar, and write down the payments you need to make against the day they need to be made (allowing time for them to clear so they won't be late). Then add up the total, and take the total away from the amount you got paid. Then you can see how much 'spare' money you have to spend. As you go through the month, when you make a payment you can take it off the total amount outstanding, and you can keep comparing that to the amount in your bank account so you can see how much you've still got spare.