Struggling to budget

Mupeteer

Help! I'm really struggling to sort out my budget. The majority of my outgo is on a monthly basis with the occasional annual payment but I get paid on a four weekly basis.

I'm finding it really difficult to make sure I've got enough money in my account at the right time. If I could start from scratch with everything happening on the same day it would be easy enough but it doesn't work like that.

Does anyone have any tips to help me sort this out?

tealady

What I would suggest that you work your budget so that the 4 weeks money is what you have to budget with each month. When you get paid take off what is for bills and divide the rest into 4. That then becomes the maximum you can take out of the bank each week. Hopefully then every 3 months you will have extra "bills" money (don't you just hate that man - always wanting money), and you can put that aside for the annual ones. Hope this makes sense.

pointypenguin

Have you tried having different accounts for bills comparing to other spends eg. food. Also having another totally separate account for annual spends so that you can easily see what disposable income you do have?

joey23

You can always try asking the companies you pay out to if they will change their payment date to one that suits you more. I spoke to my landlord and changed the date my rent comes out, so that it helps me more.

Dont know if they can but worth a try!

cat4772

Most companies will allow you to change payment dates (especially if by DD). Have you looked at the budget planner at the top of the DFW page as that allows you to see how much those annual bills actually cost each month!

My friend is paid every 4 weeks and she has two current accounts and one savings account, CA1 she pays in her wage paid in, bills come out. CA2 she transfers weekly money to this account (every Monday) and this is what she can spend each week. Savings account has her "spare/13th" month's salary that she uses for holidays, etc. It's all about discipline.

Good luck. Cat.x

Mupeteer

Thanks for all your suggestions.

I forgot to mention that I also get my student loan paid into my account but only for 9 months of the year.

I'm in a bit of a pickle!:o