Budgeting on 4 weekly pay!

littleskintdragon

Evening,

Hoping someone can give me some advice.
I get paid monthly on the same date at the end of every month. Dh was weekly, he's just been changed to 4 weekly, i've checked the dates and this just confuses me as to budgetting! Some months his pay will be two weeks before the mortgage goes out etc.

Our bills are spread throughout the month, this was easier when he was on weekly pay, but i have no idea where to start now.

Any advice??

EssexHebridean

It's unhelpful when companies do things like this without putting a transition in place. Are you in a position to take his 4-weekly pay and use that as a "monthly" figure? Let me explain what I mean:

Let's say he earns £400 per week. That means he's getting paid £1600 per 4 weeks - so if you take that as his "monthly" figure, it also means across the year there will be some slack building up in your accounts. It relies on you being able to cover the shortfall for the first month though, and also relies on you being able to work your budget on a reduced overall monthly figure. If you can do those things, then you actually have a sneaky way of building up a little savings pot over the course of the year.

bearcat16

I once spoke to a friend who was moving from weekly pay to monthly, and was in a bit of a panic for budgeting.

My suggestion was to immediately transfer the monthly wage into a savings account, and then just transfer 1/4 of it to the current account every week.

So in essence keeping to the weekly budget, if you know what I mean.

Worked for them, might work for you?

littleskintdragon

Thanks both,

Working on a weekly basis makes lots of sense to me, and puts me back in the same position, which i coped with. I thought their pay was monthly which would have made my life so much easier with regards to budgeting!

essex i know what you're saying, thanks for the advice. I may have to try a few options on paper until i find what works. :cool:

dizzyblonde82

My husband gets paid 4 weekly and it can be a pain budgeting, now we class that as a monthly wage and budget using that amount. The bonus of this is once a year we have an extra pay day and that money can be used for a big purchase, decorating or family holiday.