Trying to budget for 6 weeks?!

glittermonster

I've just started being paid - I get 5 paydays and got paid one early just for added fun!

So I need to be able to do all our weekly shopping and cat food/toiletries on my money til 12/02!! I get paid again end of jan as my OH has been off sick so won't get much £

I refuse to use my Christmas present money for bills - that's mine!!!

So heading to savers and the pet food shop later to hopefully stock up on a few weeks worth of stuff.

Tesco we'll get what we need this week and plan ahead better from next week!

*stress*

catieeb06

Bulk buy. Go for value products if you can. Cook in batches and freeze what's left.

I bulk bought a lot of food and cat food yesterday so it can sit in the freezer till it's needed.

My plan is not to leave the house from the time I get home on Xmas Eve to the time I have to go back to work on the 29th. I have 2 huge chest freezers so it's not hard to find a place to fit it.

Buy fresh milk if it's on offer. We got 2 for £2 and can then put the other one in the freezer. If you don't want to do that then longlife UHT could work.

iceicebaby

Have you been paid earlier than normal in December then? if so you should still theoretically have a weeks money left from the last pay you had so just leave the pay you have received early alone until you would have normally received it?

Caroline73_2

Personally I find it helpful NOT to look at paydates and consider each wage packet for the month. I got paid last week (a week early) but I won't touch it until January 1st.

Tupperware_Queen

if you use the 'piggybanking' technique, you'll know just how much you have for food etc once bills are paid.

I also find it useful to withdraw cash weekly, and leave the card at home at least then you can only spend what you have budgeted for!!

MrsBartolozzi

Why don't you transfer your early pay out from your current account (into savings/other a/c) and only put it back in at the end of the month and then treat it as normal?

david_hellier

The real function of a budget is to prevent overspend. The encouragement of overspending by the banks is the main problem with the economy, and they will look for ways to perpetuate this, for example by the introduction of contactless cards. The complete elimination of paper money is their long term aim so we as consumers must pay hawkish attention to exactly how much is available to spend.

One of the best ways to tackle this is to use the weekly subtraction method. Firstly work out all your income. If your income is monthly then divide this by 4.33, this will give you your weekly income. Note it.

Then work out your monthly essential outgoings, but exclude food (more later). Divide this by 4.33 to give you your weekly out goings. Note it.

Take the outgoing figure from the incoming figure. This is the weekly Start amount available to spend on anything else including food.

Get any little notebook and write the Start figure in it at the start of the week. As you spend or withdraw cash deduct it as you go. Try to get to the end of the week with some left in it and carry this forward to the next week and add it to the new Start figure.

Using this method ensures you do not overspend. I suggest you include food in the Start figure because the amount we spend on it can vary widely. My personal experience shows allowing a specific amount for food is impractical, however, it's up to you.

This method also requires you to effectively ignore your bank balance, because it is meaningless on a day to day basis. What you should see is it increasing steadily.

Also remember to include any od charges, interest or other fees in the essential outgoing list, otherwise overspending will continue.

Other top tips: stop using credit cards for further spending and make FIXED repayments, never the minimum.

I have an excel spreadsheet which can work out the Start figure if you PM me with an email address.

Wishing you all a happy new, prosperous, debt free New Year.

Dave