4 Weekly Pay

loubell

Apologies in advance for my daftness thanks but get paid four weekly and people say it will be great one extra pay a year.For example in august i get paid on the 2nd and the and the 3th but i cant seem to work out how this is of any benefit,i know iam a bit dolly lol but can someone put me out of my misery and explain it to me,i mean if i have a direct debit say on the fourth of august then the fourth of september then it still will just get paid the same and i will be no richer that month or the following month even though i get paid twice that month.

k3lvc

loubell wrote: »

Apologies in advance for my daftness thanks but get paid four weekly and people say it will be great one extra pay a year.For example in august i get paid on the 2nd and the and the 3th but i cant seem to work out how this is of any benefit,i know iam a bit dolly lol but can someone put me out of my misery and explain it to me,i mean if i have a direct debit say on the fourth of august then the fourth of september then it still will just get paid the same and i will be no richer that month or the following month even though i get paid twice that month.

Dead easy - assuming you get £12k net per year then you'll be paid £923 every 4 weeks rather than £1000 per month. I've experience both and quite enjoyed the extra pay packet as ours happened in December but when you switch to monthly it seems like an immediate pay rise as each pay packet is higher


Budgeting was always slightly more difficult but I did it via DD's from a different account which I refilled as soon as paid

warby68

You're right, its the same amount of money and the same amount of bills overall.

Its a psychological thing really.

If you pay your bills largely monthly then there is one month where you get double income but the bills stay the same. You should 'feel' better off in that month.

If your budget isn't too tight, you can plan to cover everything from each salary payment as if it really were monthly. That way the '13th' payment is unallocated and a 'bonus' for you.

If your budget is tight it can be tricky as your payment date for most bills tends to be fixed but your salary payment day will vary and require a bit of extra discipline/organisation.

loubell

Thanks for the replies i just couldn't figure it out when people say to me great you will have an extra pay that month,but after paying my all my dd,s i just can't see it i mean the payment on the 30th will just pay the sept 4th payment and so on or iam i still missing something.Beginning to think iam losing my mind

kingrulzuk

what i would say is open separate account like RBS, natwest or santander where you can earn up to 3% rewards on your DDs

ceredigion

loubell wrote: »

Thanks for the replies i just couldn't figure it out when people say to me great you will have an extra pay that month,but after paying my all my dd,s i just can't see it i mean the payment on the 30th will just pay the sept 4th payment and so on or iam i still missing something.Beginning to think iam losing my mind

With out meaning to state the obvious.
You pay your bills once a month, ie 12 times a year. You get paid every 4 weeks ie 13 times a year.
If you budget monthly you pick up a extra pay check, all is psychological but may feel like a bonus.

Dobbibill

loubell wrote: »

Apologies in advance for my daftness thanks but get paid four weekly and people say it will be great one extra pay a year.For example in august i get paid on the 2nd and the and the 3th but i cant seem to work out how this is of any benefit,i know iam a bit dolly lol but can someone put me out of my misery and explain it to me,i mean if i have a direct debit say on the fourth of august then the fourth of september then it still will just get paid the same and i will be no richer that month or the following month even though i get paid twice that month.

just having a quick look at the example you have given and to start with you won't see an immediate benefit.

ie - your payday on 2nd Aug will cover bills due in the month of Aug
your payday on 30th Aug will cover bills due in the month of Sept
etc etc

Once this has been going for some time, you will find your payday for the following months bills gets earlier and earlier in the previous month.

Using your same example July's bills will come out of the pay that goes into your account on 6th June.
Aug bills can be accounted for from either pay on 4th July or 1st Aug as both are due in time for Aug bills, meaning one of those pay days can be all your own money/bonus, whatever you choose to call it.

You have to look at it over a 12 month period.

HTH

loubell

Thanks i think i have got it now:embarasse well i think i do lol.

System

Open a separate bills account and pay the bills from that.
It should help you sort things out quicker.

Drawingaline

My husband gets paid monthly so all dd's are paid oit of that, I get paid four weekly which I use for food and petrol, meaning I never have to budget for a five week month food wise.

LXdaddy

I used to be paid every 4 weeks. So I had 13 pay slips every year. But most bills were monthly so 12 bills per year. We set our monthly budget on the basis of how much was in the pay slip. So the 13th payslip was a bonus and paid for extras or added to savings.