how to switch spending from weekly to monthly

shiningfaery

hiya
as title suggests. I get everything income wise weekly but at some point don't know when I will be paid monthly so would like to start that switch over now. I have 3 seperate bacs payments made over the course of my week that I want to be monthly 2 I can change now but would leave me with no money for 4 weeks til its paid, not really going to work.
so my question is how do I move to monthly on weekly payments without living off nothing for 4 weeks?

grumbler

Save a little?

Millie_Millsters

I would suggest if you have time, do it slowly in stages.

First change to fortnightly payments, then when you are comfortable with that change to 3 weekly then 4 weekly then monthly,

Atidi

shiningfaery wrote: »

hiya
as title suggests. I get everything income wise weekly but at some point don't know when I will be paid monthly so would like to start that switch over now. I have 3 seperate bacs payments made over the course of my week that I want to be monthly 2 I can change now but would leave me with no money for 4 weeks til its paid, not really going to work.
so my question is how do I move to monthly on weekly payments without living off nothing for 4 weeks?

I remember when I moved from being paid weekly to being paid monthly, my employer 'kindly' gave everyone their weekly wages as usual except at the end of the month they paid for the entire month too.

I say 'kindly' because it was really all down to the union who negotiated this solution for us all. They knew the employer wanted and needed to make this change of payment and this was the negotiated solution they insisted on.

How good a union do you have? And how keen are your employers to switch from weekly to monthly payments?

Gromitt

When my employer changed from weekly to monthly they simply changed from paying in arrears to paying in advance, so there was no "4 weeks living off nothing".

shiningfaery

Gromitt wrote: »

When my employer changed from weekly to monthly they simply changed from paying in arrears to paying in advance, so there was no "4 weeks living off nothing".

I dont know how the change would happen but I am assuming it would be in arrears.

How good a union do you have? And how keen are your employers to switch from weekly to monthly payments?

Its not a change the employer is making as such it would be a change as a result of changing from a temporary to permanent contract. Which would be from a temp agency to the employer I have been working for on their behalf.

I would suggest if you have time, do it slowly in stages.

I had thought of this and will look at how feasable this is. I just want to do this first and have it all in place easily by the time its needed, and would rather do it without living off credit cards....:eek:

SuperAllyB

Could you even change one payment at a time from weekly to monthly? Not perfect but maybe a workable compromise?