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Time for the annual "BEWARE!" thread...
Comments
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Yep - it's being aware of it and the potential for it to be a problem that's half the battle isn't it! Good work all!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
I get paid late at Christmas. I get paid weekly normally on a Wednesday but on weeks like Christmas week I get paid a day later so Thursday. So I don't face the whole December pay issue. My finances improved so much when I got a job paid weekly.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
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A lot of people say that weekly pay can be really helpful as it forces you to look at your money and cashflow over a shorter period - which makes sense - plus as you say there's not a problem with being paid early!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Unashamed bump... ;-)🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
We always get paid on the 25th. We use YNAB so I have added a new category called 'next month's pay' and budgeted it all there, after getting paid on the 18th. I've also hidden the category so can't even see it.
Most normal months, I work out our budget for the month ahead on payday, but as it Christmas, I probably won't look at it until at least the 27th.
Prior to using YNAB, we used to just transfer it all to a savings account and then transfer back to the main account after Christmas.0 -
I work in the Finance, Legal and HR department of a small-ish company. We had a conversation about paying everyone early and unanimously decided not to do it. We felt January was long enough as it is!!!MFW Challenge 2019 - £2,420 / £2,420 - 100% :T0
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Anoneemoose wrote: »We always get paid on the 25th. We use YNAB so I have added a new category called 'next month's pay' and budgeted it all there, after getting paid on the 18th. I've also hidden the category so can't even see it.
Most normal months, I work out our budget for the month ahead on payday, but as it Christmas, I probably won't look at it until at least the 27th.
Prior to using YNAB, we used to just transfer it all to a savings account and then transfer back to the main account after Christmas.
Brilliant suggestion for the YNAB users out there! :T:TMoneyMission wrote: »I work in the Finance, Legal and HR department of a small-ish company. We had a conversation about paying everyone early and unanimously decided not to do it. We felt January was long enough as it is!!!
That's great - for most companies everything is automated these days isn't it, so there's no real reason to pay early anyway!
I got paid yesterday (tiny company with no automated payroll - it's literally a bank transfer) and will do the usual money shuffling later today and then just ignore everything until new year! :T I'll be taking out cash for spending while we're away over christmas but that is all accounted for already and comes from a specific account.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
I only ever messed up on this once. I definately learnt my lesson. Now it goes straight into savings.1 debt v's 100 days chapter 34: T3sco bank CC £250/£525.24 47.59%
[STRIKE]MBNA - [/STRIKE]GONE, [STRIKE]CAP ONE[/STRIKE] GONE, [STRIKE]YORKS BANK [/STRIKE]GONE, [STRIKE]VANQUIS[/STRIKE] GONE [STRIKE] TESCO - [/STRIKE], GONE
TSB CARD, TSB LOAN, LLOYDS. FIVE DOWN, THREE TO GO.0 -
I normally get paid on 27th of the month and got paid today so not too bad...just a couple of days early so I won't notice anything different.Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
I'm lucky in that I get paid on the last working day of the month and that doesn't change even in December.0
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