help with my budget im having problems!

mummyofboys

Hi everyone

I got in alot of trouble a while back and got behind with minimum payments ect and my mum was nice enough to give me 500 to get back on track again.

The only issue now is( im paying everything on time and tryin to cut back and overpay) but as my boyfriend gets paid monthly, i get paid weekly and our benifits four weekly i seem to of got into a budget that works week to week, rolling on from one pay day to the next so i never actually know how much we have left over at the end of the month to take out. its really hard to explain. I will copy and paste what i do at the moment, and it seems stupid so dont laugh! but at least its got me back on track for now, but now i want to be able to get a budget where i start afresh ect each month and no exactly whats left, but it seems impossible!


15th- 21st February

15th £66.26 in bank +£142.00 wages= £208.26 -(Gas £55, Elec £55, Loan £49.77, Laptop 4069,= 7.80 ( £142 =90 mike, 11 ebay fees,7.80 to leave in bank, 18 lee owed,
16th £7.80 + £80 child benefit =87.80 (17.50 beun internet PAID) £70.30
17th £70.30
18th£70.30
19th£70.30
20th£70.30
21st£70.30 left in bank

22nd- 28th February

22nd ££70.30 in bank +£142.00 wage= £212.30
23rd £212.30 +252.18 tax credits=464.48 Pinnacle insurance 22.05 PAID, Overdraft 85.00, Loan 61.24 PAID, credit card 100 PAID , sky 124 PAID, =41.19
24th=£41.19 - £12 capital one credit card PAID £29.19
25th £29.19 - £2.99 dixons PAID=£26.20
26th=£26.20
27th=£26.20
28th=£26.20 - £6.99 dixons=£19.21

1st March - 7th March


1st=£19.21 + £166.00 wages = £185.21 -£12.12 tv license, £6.99 dixons, £107 o2, £25 account charge, £30 park catalogue
2nd=£0
3rd=£1070 ( 6.99 dixons, £60 petrol, £91 nursery, Littlewoods £36,Marshall ward £18 BOYFRIENDS Littlewoods £23.92, £32 wescott (LAST PAYMENT), £74 savings (STUFF FOR NEW BABY), £30 shopping, £20 savings EMERGENCY) =£682.01
4th=£682.01
5th=£682.01
6th=£682.01
7th=£682.01

8th -14th March
8th=£682.01 +£142.00=£824.01 (£24 overtime to baby fund) halifax £50 58.09 water hmrc tax credit repayment £27.77, £550 rent) = £138.15
9th£138.15
10th£138.15 ) shopping £30, £20 savings=£88.15
11th=£88.15
12th=£88.15
13th=£88.15
14th=£88.15

sorry if doesnt make sense! thanks in advance

gonzo127

i know how you feel with this since i have the same problem,

so the way we have gotten around it is by

ALL bills (and minimum payments on debt) go out of my account the day after i get paid (monthly) anything left is put into a seperate account,

the weekly benifits is used for shopping for the week and the

4 weekly money put aside with the left over from mine and is used for all other expenditure (petrol), any left over is used the day before i get paid to make the over payments on the debts

so basically requires 3 bank accounts a bills account, a groceries account, and a others account

daviesalie_2

Hi Jay, I'm just the same, weekly, 4-weekly and monthly coming in - its a nightmare. On top of that a lot of my direct debits don't have a fixed date and vary from month to month so it was a hard slog keeping track of what was coming out and when.

I've done a similar thing to Gonzo. I've got 4 current accounts and a few savings accounts. Most of my money comes in weekly. All the money goes into one account, which my direct debits come out of (things like rent, council tax, eletric, etc), then I've got standing orders going out to all the other accounts.

- I've got a weekly S/O going to current account which is solely for my credit cards (direct debits set up to pay the cards, so anything left over at the end of the month can be paid off my highest interest card)
- Weekly S/O going to account for Nursery fees and thats got a standing order set up to pay the nursery every month. (I probably don't need this one - but I had the account so might as well use it)
- weekly S/O to savings a/c for the car (tax, MOT, service, tyres, etc)
- A weekly s/o to another savings a/c for my emergency fund
- A weekly s/o to a current a/c for food, petrol and spending money
- And last but not least a s/o to savings a/c for xmas, birthdays, etc

I've only recently started but its working well so far and hopefully the accounts will run themselves and I won't have to check them very often.

It took forever to work out my budget and set up the standing orders and switch the credit card direct debits but it was the only way I could control my spending and remove the temptation to spend money that was meant for other things...so far so good. I've cut up the cards for the current accounts that I don't need to withdraw from, which is all of them barr one. And by knowing that the money is there to cover everything I'm not tempted to go online and move a sneaky £20 from my CC acc to my spending account.

Hope this helps