start new job soon - how to survive until the 1st payday

beadgirl87

Hi,
I am starting a new full time job next monday, yay, after being unemployed for a few months and pretty much down to no money.
I will be paid at end of June and am figuring out the best way to sort my spending until the first payday.
I will need to buy petrol to get to work, and food, a bit of entertainment money.
Bills are covered already.
Should I use CC or overdraft?
I have a CC, 19% interest, statement date is 26th of month, (always paid off in full) so can pay it about 5 days later.
I have an overdraft, interest free, no charges which I am trying really hard to get out of, currently using £400 out of £1800.

Which would be better to use? Both CC and overdraft are with lloyds. No cashback or advantages from either account.

All monies will be paid back as soon as I am paid the first month. Then once I know what my monthly pay is, I can create a proper and more exact budget. Planning to get out of the overdraft asap and then carry on with other debt repayments in my signature.

jonesMUFCforever

Why spend money that you do not have?
Pretend until the first pay day that you are still unemployed.

missile

I would use the credit card for essential expenditure and arrange DD to pay off the balance in full from LTSB overdraft.

"Entertainment money" is a luxury you cannot afford until you clear that overdraft.

MoneySaverLog

Anything but a Pay Day Loan. DON'T TOUCH THEM !

beadgirl87

thanks for the advice.
I have to spend some money I do not have as I need to buy petrol to get to the job in order to get paid more money. I am talking about the essential petrol and food to sustain me while working.
I will put it on the cc as suggested and it will probably look better than the overdraft getting a bit bigger for the month and then going down.

Gromitt

Yes, put the petrol and food on CC. If you draw money from your overdraft, it'll encourage you to spend it on things you don't need.

Will you be getting a locker at work? I fill mine up at the start of each week. Normally soup, salmon, ketchup, mayo, multipack crisps, bread, etc, then I just dive in each lunch time and select. Much cheaper than buying a sandwich every day. I see others buying a packet of crisps for 75p from the local shop, I buy 6 for 99p

opinions4u

jonesMUFCforever wrote: »

Why spend money that you do not have?
Pretend until the first pay day that you are still unemployed.

This.

Other than needing to spend on petrol, what's changed? Packed lunch with two slices of bread will suffice to keep food costs down.

Get ahead by continuing to be hard up until you're paid. Don't borrow for what you don't need.

Once paid, start saving and start repaying debt before you start spending.

beadgirl87

Gromitt wrote: »

I see others buying a packet of crisps for 75p from the local shop, I buy 6 for 99p

I get 12 packets of crisps from sainsburys for 68p Also bake own bread for sandwiches, get reduced items at supermarket etc.

Opinons for you - the petrol and a bit of food is the main really. I'm not going to go wild.
thanks everyone, already determined to pay off debts first etc, not going ot waste my money or spend what I don't need, just need short term help to begin with. Got a strict budget sorted and will be getting though the debts asap.

atlonglast - thanks, I am very pleased to have a weight off my mind, and start moving on with my life.

Gromitt

beadgirl87 wrote: »

I get 12 packets of crisps from sainsburys for 68p

I'm posh though, I buy McCoys crisps Much prefer them to Sainsburys own brand. I just don't understand the people who spend 75p on a single packet.

MoneySaverLog

Gromitt wrote: »

I'm posh though, I buy McCoys crisps Much prefer them to Sainsburys own brand. I just don't understand the people who spend 75p on a single packet.

I used to be able to get mccoys 6 for 99p in tesco but they put the price back up to £2, where are you getting them for 99p?

They are 75p each in the vending machine at work and are a rip off

callum9999

I can't comprehend why everyone is advising them to use a credit card, for which they must pay interest on, over their interest and charge free overdraft...

Yes some people don't have the discipline to put that money back into the overdraft when they get paid - but it's a bit unfair to not even consider the possibility that the OP isn't a complete idiot with money! Solely going by what I can see on here, they seem pretty with-it with regards to their finances so far.