Paid 4 weekly but budgeting monthly

chunkytfg

It occured to me in my midst of budget planning for this onth that being paid 4 weekly gives me a, not necessarily unique, opertunity to have basically a clear paycheck once a year that is not needed so can go on servicing debts or other stuff once debts have been paid off.

Does anyone else do this and if so how did you start doing it as from my point of veiw it might seem easy for the first couple of months as you get paid pretty near the end of the month but it gets gradually harder the further the pay day is from the 1st of each month.

So if anyone does this then any helpful pointers would be appreciated.

And to any of you possibly wondering what the hell i'm talking about think about it. 52 weeks a year, split into 4 week periods and you have 13 periods meaing once a year you get paid then your mortgage and bills all come out on the last day before a new payday then you get paid again before your next lot of bill meaning a month clear from bills.

I'm talking about taking it one step further and trying to stretch the whole pay periods out allowing me a complete pay check a year clear from monthly expenses!

iwanttohavesomemoney

yup; I'm paid 4 weekly too, and this year coming I'm gonna set up so all my DD's go out on the 1st of the month after Feb (next time pay date is before 1st of month (28th Jan I think)) and work out how much to make sure is left in the account, as up to now I've just firefought as it were, ring a ding on the phone when money comes into the abbey. This way it should work out as you say!

I find it odd that you can't set up 4 weekly DD's; only the car finance people would do it.

iwanttohavesomemoney

I think that once all the cash bar the DDs was gone or getting close to it, I'll leave the cash card at home, and just take some pocket money to work. ATM I take £2 - £5 per day, and normally spend maximum £3-£4. I am lucky as a full meal including a main course, muller yoggy and coffee weighs in at about £1.80

chunkytfg

I have all my bills from a seperate account so when i'm paid i just transfer the money required to satisfy them and they take as and when the need to but i'm talking about doing it for the entire pay check so i have one lot of pay that is required for nothing other than what ever i want it for IYSWIM?

iwanttohavesomemoney

yep I see wot u mean - I suppose its just will power at the end of the day along with organisation. You could always buy a new bike instead lol

Lorian

I do it but only with the watchfull eye of Microsoft Money.

chunkytfg

nikki would kill me if i got another new bike. the street triple i got this year is hard enough to justify!!