Monthly Wage Into Weekly Pay!

ImAlanPartridge

Hi, for the best part of 2011 to 2015 I was paid weekly and was probably in the best control of my money ever. In 2015 I was put onto monthly pay and I've slowly lost control.

There will probably be a thread about this already but I'm very new to this board (just signed in for the first time in years!) I'm just after the best advice of how can I make it look like I get paid every Friday like before but still be able to pay my monthly bills. I've thought of transferring from one account to another but I think it will defeat the object.

Any help will be much appreciated

SailorSam

You just need to learn to control the urge to spend before the end of the month.
When you get paid only withdraw a quarter of it out each week.

Bmth100

What the first poster said, budget better. But you could ask to swap your salary to another account, then set up a automatic payment to your main account each month.

surveyqueenuk

Work out exactly how much your bills are each month. Put that money into a separate account and have all your DDs taken from it. I tend to pop an extra tenner in there, just in case anything increases. Set up a standing order to do this every payday.

Divide the money you have left by 4. That's your weekly spends. Of course, you may want to consider saving some of this if you can. If it's not enough then there's plenty of advice on these boards which can help you get your outgoings down. HTH. Oh, by the way...AHA!

ImAlanPartridge

Thanks everyone! The budgeting bit is what I've tried and it just doesnt work for me (no will power). I was thinking of the idea of having a standing order set up weekly into my building society account, therefore I'd have to go into the branch to withdraw (no card/contactless) which might help.

Thanks again

Lucyxx

This happened to me last year too (maybe we work for the same employer!) I only work very part time hours, so don't earn much and found it difficult to start with. Especially as the new pay dates were roughly around the time my direct debits came out, and some months we have to wait 5 weeks instead of 4 for wages which is a bit tricky to remember and plan for when you are used to money coming in every week.

I literally just printed myself out a sheet with a column for each month, with all my bills/direct debits on and with the date they needed to be paid by and roughly how much. Plus a row for savings too so I can feel good if I manage to put a tick in that box!! I tick off when each thing has been paid and regularly check to see what is left before my next pay day is. It is pretty basic but has helped me feel a bit more in control of what I have to spend and when

ImAlanPartridge

Lucyxx wrote: »

This happened to me last year too (maybe we work for the same employer!) I only work very part time hours, so don't earn much and found it difficult to start with. Especially as the new pay dates were roughly around the time my direct debits came out, and some months we have to wait 5 weeks instead of 4 for wages which is a bit tricky to remember and plan for when you are used to money coming in every week.

I literally just printed myself out a sheet with a column for each month, with all my bills/direct debits on and with the date they needed to be paid by and roughly how much. Plus a row for savings too so I can feel good if I manage to put a tick in that box!! I tick off when each thing has been paid and regularly check to see what is left before my next pay day is. It is pretty basic but has helped me feel a bit more in control of what I have to spend and when

The sheet idea sounds like a really good idea Lucy, I've tried a few things and still have a couple in mind but will give this one a go. Its crazy how different it is depending on when you get paid, and I even get paid more being monthly paid too! Yet still cant budget.

I just feel as if I have no control knowing I have a whole month to plan for.

i.love.baking

how about you try and split up your month;y budget down into a weekly one, so your budgeting hasn't changed, the only thing that has changed is the date you get paid on.