4 weekly vs monthly salary - help!

19lottie82

zepsgal wrote: »

Then you need your bills to come out the day after your wage gets paid in, that's the same date every month?

x

No, because the point the OP is making is that if you get paid every 4 weeks, then your pay date changes every month.

balletshoes

kmarshall wrote: »

It does make a difference really, or maybe it's just me not being very good with finances but, for example, I get paid at the end of every month and most of our bills go out at the beginning but my wage doesn't cover them all, and my husband may not get paid until the middle of the month so it's a lot of juggling. There must be a simpler way I'm sure, I just can't see the wood for the trees now!

do you have examples of the bills that are taken from your wage at the start of each month, and the ones that, at the moment, are covered by your OH's wage? Maybe some of those could be juggled around?

rachbc

set up a seperate account for bills - work out how much in total needs to go into the account each month.

Set all bills to come out on the last day of the month. Transfer enough money each into the account from each pay packet to cover the bills however you see fit to split it. That money then just sits there til the dd's all come out - you don't need to touch the accoutn or worry that its not going to be there because you have spent it.

So bill per month £600
each pay in £300 out of each pay packet
You pay in on payday (say 16th) - you know how much you have left in your current account for the month and know the bills are tken care of
OH - gets paid 20th - does the same

Next month same but this time he gets paid 17th - it doesn't matter -he just transfers the money over and it sits there waiting for the DD's to take it out on the 30th.

In this way there should be 1 extra payment that OH makes into the accound each year - you can either see that as a nice saving or take it back at the end of the year!

Oh and I have 2 different pay dates, plus CB (4 weekly) and CSA whcih go in on a different day - this is how we work it out.

mummybearx

19lottie82 wrote: »

No, because the point the OP is making is that if you get paid every 4 weeks, then your pay date changes every month.

Yes, but she gets paid monthly, I'm assuming on the same date ie 28th or the last day of the month. Therefore her wage pays the bills, and his wages are used to budget and pay for everything else x

Edited to ad - Just realised you said your wage doesn't cover all the bills. In this case, go with Rachbc's idea above :-)

kmarshall

Thanks everyone; I think opening another account for bills is the way forward. I just need to decide on a date when I start it from now!

19lottie82

zepsgal wrote: »

Yes, but she gets paid monthly, I'm assuming on the same date ie 28th or the last day of the month. Therefore her wage pays the bills, and his wages are used to budget and pay for everything else x

Edited to ad - Just realised you said your wage doesn't cover all the bills. In this case, go with Rachbc's idea above :-)

Changing bill dates about its a lot of hassle, and not always possible. Setting up another acc for DD's is a lot simpler. Then you cna just transfer the ££ in to there every payday and forget about it.

mummyroysof3

we have different pay dates every month. i left the joint account with money going in and direct debits coming out but i transfer whats going to be left into another account for spending

gjs6385

If you haven't already, just do a spreadsheet with your monthly pay dates and work out your husband's 4 weekly dates and then put both of your salary payments on there.

Also, put on your DD dates and amounts and it may be easier than you think with it all in front of you in one place.

Plan out your whole year (don't include anything like estimated increases to your salary/bills as you can apply these as and when they occur).

If possible, it may be easier to proceed with the bills coming from your salary and then your husband paying you back when he gets paid.

Failing that, cancel some of your bills that you pay by DD (ones where you don't get a discount for paying by this method) and your husband could pay some by a debit card when he gets paid.

daveyjp

"cancel some of your bills that you pay by DD (ones where you don't get a discount for paying by this method) and your husband could pay some by a debit card when he gets paid."

If you pay Council Tax by DD cancel it and pay this every time your husband gets paid. By Christmas you will be a payment in front so you can miss a payment - handy for Xmas spends.

wyebird

OH gets paid 4 weekly and I get paid weekly.
I have a spreadsheet with all of the bills on there; amounts and next due date, and how they are paid - dd, bill pay, on line etc. I then colour code them into weeks, so I know how much is due in a given week from the day after I am paid.
I pay the mortgage manually as it is the biggest single debit, and pay it when OH gets paid - and effectively get a payment holiday in the month where he gets paid twice