Getting paid 4 weekly

lar316

Im really getting into this money saving/ budget stuff. I find i log into this site 4 or 5 times a day!!! The question i want to throw out there is, how many ppl out there get paid 4 weekly like myself? I find it really hard to budget, with direct debits coming out on the 1st of every month while my wage isn't in etc. How does everyone manage?

Many thanks in advance.

LandyAndy

Well, strictly speaking, if you are paid 4 weekly you should always be being paid ahead of your dd's.

What you need is an excel sheet of your cashflow to highlight when things may be tight.

DVardysShadow

lar316 wrote: »

... How does everyone manage?

You budget on the basis that your 4 weekly pay must cover all of the bills for a month. If you think about it, for each regular monthly bill, you get at least 1 wage between bills - and once a year, you get 2 wages between bills. If your biggest expenditure on bills is on the 1st of the month, watch out for the calendar month when you get paid twice - in the next month, you will seem to have more cash. Do not fritter the extra away, but use it to build up your bank balance or pay extra off the credit card.

If you are doing a statement of affairs, multiply your 4 weekly pay by 13 and divide by 12 to get the equivalent monthly wage.

wildbri

When you get your government pension it will be paid every four months, we think it is great you get 13 pay days a year!!! regards........bri:T

nichart20

I get paid 4 weekly and end up with a month I don't have to pay everything, I am in front by weeks sometimes when im paid to when bill is due

Tixy

I think it is harder if you have 4weekly pay so its at a different time each month. I think it might help if you had 2 bank accounts.

My suggestion would be to have all your monthly DDs come out of a seperate 'bills' account. Then work out what the total monthly amount of these is. Then on the day you get paid transfer that amount over to the bills account. That way the money will still be there waiting for the 1st when the go out whether you are paid on the 5th of the month before or the 26th. The fact that you will pay over 13 monthly amounts in a year, compared to only paying out 12 monthly bills means you will build yourself a small cushion in place.
The first month will be the most difficult though as you won't be used to it.

Whatever you have left in your 'everyday' account from your paypacket can be used to pay weekly items such as groceries, petrol and any other spends.

Other people may have other suggestions though.

wildbri

Sorry EVERY FOUR WEEKS...... bri

LandyAndy

Tixy wrote: »

I think it is harder if you have 4weekly pay so its at a different time each month. I think it might help if you had 2 bank accounts.

My suggestion would be to have all your monthly DDs come out of a seperate 'bills' account. Then work out what the total monthly amount of these is. Then on the day you get paid transfer that amount over to the bills account. That way the money will still be there waiting for the 1st when the go out whether you are paid on the 5th of the month before or the 26th. The fact that you will pay over 13 monthly amounts in a year, compared to only paying out 12 monthly bills means you will build yourself a small cushion in place.
The first month will be the most difficult though as you won't be used to it.

Whatever you have left in your 'everyday' account from your paypacket can be used to pay weekly items such as groceries, petrol and any other spends.

Other people may have other suggestions though.

Don't do anything this complicated?:rolleyes:

Seriously, as I said above, you should always be ahead of the game with a 4 weekly pay date and some planning.

tiny_courageous

I used to get paid 4 weekly, and my OH still does. Basically we treat the 4 weekly wage as if it was a monthly one, and budget accordingly. Occasionally we would need to move Direct Debits but generally it's not an issue. The massive bonus of budgeting this way is that once a year you have a bonus month where you get paid twice.

westiedog

I get paid four weekly as well. 95% of my direct debits come off on 1st of the month. To keep on top if things I keep a spending diary and as soon as I get paid I take all my direct debits off and that way I know exactly how much money I have until I get paid again.

There is the extra bonus of their being one payday being an extra one with no direct debits coming out. :j

Hope this helps xx

jackieb

Tixy wrote: »

I think it is harder if you have 4weekly pay so its at a different time each month. I think it might help if you had 2 bank accounts.

My suggestion would be to have all your monthly DDs come out of a seperate 'bills' account. Then work out what the total monthly amount of these is. Then on the day you get paid transfer that amount over to the bills account. That way the money will still be there waiting for the 1st when the go out whether you are paid on the 5th of the month before or the 26th. The fact that you will pay over 13 monthly amounts in a year, compared to only paying out 12 monthly bills means you will build yourself a small cushion in place.
The first month will be the most difficult though as you won't be used to it.

Whatever you have left in your 'everyday' account from your paypacket can be used to pay weekly items such as groceries, petrol and any other spends.

Other people may have other suggestions though.

We do something very similar. It's very simple.