A Payment A Day - Part 9

LondonAndy

£7.30 to the ISA today please...must dash!

Flower08

angelicmary85 wrote: »

I'm having a baby ...a very unplanned baby

Congratulations!!! I'm so pleased for you!

Flower08

Just £1.92 to CC for me today please.

Greenbynature

Angelic and OH

Greenbynature

Hi all

Well done minnime on paying a cc off :T

Pad today is £1 cap1 and 98p change jar

£1.98

Kepp

Afternoon all, £3 to the loan please

copperjar

Hi everyone. Sorry to butt in. Have been reading this thread for a while and love the idea of a payment a day (in fact, I've just made one myself!) but I wonder how it all works when you have a strict budget and every penny is accounted for - how do you do it?! I've just started my debt free journey but basically I'm giving myself a budget at the start of every month, then taking out a weekly amount in cash and using any surplus to pay my CCs. So if I then also make a PAD, I'll go over my budget and into the overdraft

Sorry - probably being really thick!

mooomin

copperjar wrote: »

Hi everyone. Sorry to butt in. Have been reading this thread for a while and love the idea of a payment a day (in fact, I've just made one myself!) but I wonder how it all works when you have a strict budget and every penny is accounted for - how do you do it?! I've just started my debt free journey but basically I'm giving myself a budget at the start of every month, then taking out a weekly amount in cash and using any surplus to pay my CCs. So if I then also make a PAD, I'll go over my budget and into the overdraft

Sorry - probably being really thick!

PAD works in different ways for different people.

For example...

I get paid pretty much the same every month, and each month I send enough money to the Bills Account to cover my direct debits. I also have a certain amount which I use to cover food and entertainment for the month. The rest is for me to spend or to PAD, depending on how good I'm feeling

I don't set aside money to PAD, it's part of the surplus in my budget.

If I didn't have a surplus at all I don't think I would PAD unless I had extra from somewhere. I normally PAD my Ebay profits or anything from overtime.

It's up to you. You'll see from the posts that some people PAD big amounts and some just put coppers in a jar and pay off one amount each month.

Come and join us if you can though, we're mainly lovely

copperjar

Thanks fresian

So I can put money aside (cold hard cash from my weekly budget) every day and then make a weekly PAD? That makes sense!

mooomin

copperjar wrote: »

Thanks fresian

So I can put money aside (cold hard cash from my weekly budget) every day and then make a weekly PAD? That makes sense!

Yup, absolutely, whatever works for you. I'm lucky in that I normally have a surplus from my budget of over £150 per month, but I do daily payments so I can adjust depending on my spends.

Weekly PADding is fine by us, just remember to post the amount in bold or large colourful font for the counter-upper!