Help needed😑

gavmc88

Hey

We are struggling to find a way to budget so that we both feel we have our own money. And are looking at options on ways we can budget and have cash left over for ourselves to do whatever with.

I am Weekly pay and my partner is Monthly. This is were we are having problems as up until now I have been paying everything throughout the month and we have been using my partners pay to buy big things with but now that we don't need to get anything we need to work it another way as my partner feels her wage has gone at end of month and she has had nothing to play with and I feel the same throughout the month too 😕 We did spend a bomb on going to Mexico tho 😂.

Anyway can anyone think a way that could be fair and make us both be able to have a bit of our own cash but still that we are on same path.

We both clear £1600 a month some I clear more with nights.

So regular £3200

Outgoing Monthly

Rent-650
Tax-160
Phones-90
Bt-50
Shopping-250
Bus/Smokes-240

Total= 1440

Leaving 1760 to play with.

How do we work this out, would love if someone has tips or info on how they do it so we can start enjoying a bit of cash to ourselves.

Thanks

getmore4less

Depends how much you feel you share the joint income.
Stick £1k each into a shared pot for the joint/house stuff.

Gives you £600pm each to spend on personal stuff.

Stick any income over £1600pm as savings.


Do a SOA for the joint stuff there should be a surplus for the longer term things like holidays.

http://www.stoozing.com/calculator/soa.php

If you rent and have no cars then £2k should be plenty.


Then start looking for savings, phones seem very expensive.

Have a look on Debt-free Wanabee for ideas on how to save more.

If you want to keep more joint then £100pppw and joint for everything else

A budget is a plan for how you want to spend/save your income needs to cover everything so start a SOA and then a spending diary to make sure the SOA is on track.

Dobbibill

I do this with my DH.

We have a bills acc and a grocery acc. We contribute 50/50 each month to both accs. I have worked it so that the emergency fund and Christmas savings are taken from the bills acc by S/O this way we only transfer 2 amounts (bills & shopping) on payday and the rest is our own.

If one of you are paid weekly and the other monthly then you need to calculate what you need to pay monthly and for the weekly paid person (multiply by 12 months then divide by 52 weeks) This would require a buffer though as you don't want to be playing catch up when bills are due before the money is in the said account.

I agree with the above posts to do a SOA

If this helps it is a link someone posted elsewhere which gives a template of spreadsheets for family or individual budgets.
http://www.vertex42.com/ExcelTemplates/budgets.html

Hope this helps and good luck to you and your OH in finding something that works for you.

DB

mgdavid

give yourselves 360 each and save a grand into the house deposit fund.

PS - stop smoking and spend & save a bit more each :-)

gavmc88

Thanks for tips. Sorry not been on to reply sooner,

We have managed to work out how we are Going to mamage our finances for now.

Thanks again for tips.