Trying to budget since moving to weekly pay from monthly - Help needed please

indierocker85

Hi guys

I have agreed to pay £40 a month off a loan, and have a paying in book. Yet I struggle to pay it at the start of the month as with my other outgoings it can leave me with nothing. It sounds very trivial, but what is a correct set amount I can pay every week that will bring it to £40 a month every month and no more no less?

Thanks

Lokolo

£9.23.

(there are 52 weeks in the year, which is 4.3333333 weeks in a month. £40/4.333333 = £9.23).

However it is a bit harder this way as some months you won't get this (such as those with 4 weeks), and some months have 5 weeks, so you have too much.

I would just stick with putting £10 a week away, to be safe.

heloid

Try giving your loan provider a call and ask if they can change the payments to weekly?

Lokolo

heloid wrote: »

Try giving your loan provider a call and ask if they can change the payments to monthly?

They have changed from monthly, to weekly

indierocker85

Lokolo wrote: »

£9.23.

(there are 52 weeks in the year, which is 4.3333333 weeks in a month. £40/4.333333 = £9.23).

However it is a bit harder this way as some months you won't get this (such as those with 4 weeks), and some months have 5 weeks, so you have too much.

I would just stick with putting £10 a week away, to be safe.

I thought £10 a week is probably best, as at least this way I know I have paid at LEAST £40 and if not a bit more. Thanks guys.