SOA help?

DVardysShadow

randomer wrote: »

I conveniently forgot about unsecured debts i.e. an overdraft. This always hovers round the £800 mark and I cannot shift the bloody thing:mad:. One real pain is the main salary goes in every 4 weeks not a fixed pay day. I cannot get my pea sized brain round this for some reason.

Actually a 4 week salary works out well - if you go at it the right way.

You need to budget for your monthly outgoings from 4 weeks pay. So as the months go by, you will get a little bonus every so often on each regular payment, because once a year you will get 2 months wages in between any 2 monthly regular payments out. So, if the mortgage goes out on the 1st, then a month will come around where you receive a wage on the 2nd and the 30th, so the next month you will be ahead by the mortgage. And for each regular bill, depending on where you are in the month, you will pick up a bonus of 2 paydays between successive payments.

It just starts with budgetting for each month's outgoings from 4 weeks pay. If you just ignore when the pay comes in [as long as it does still come in!!!], after a year, you will find your bank balance is up by 4 weeks pay.