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Beware the December pay trap!
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I am getting paid on the 21st, which is much better than last year when we were paid on the 16th! December is always an expensive month for us as we have 4 birthdays too. This year I am setting aside all the bill money when the pay comes in.DMP 2021-2024: £30,668 £0 🥳
Current debt: £7823.62 7720.52 7417.942 -
My husband is always paid early in December, this isn't usually an issue at all. Usually he is paid last friday of the month, months with 4 fridays he gets 4 weeks pay and months with 5 fridays he gets 5 weeks pay. December has 5 fridays so I've budgeted for 5 weeks pay as we have a couple of extra bills this year due 1st January. They've been informed they are being paid on the 23rd december 4 weeks of pay and getting 5 weeks pay in January instead when last year the 5 weeks should have been in January but they gave it to them in December instead, I feel we could have had a bit more notice about the change so OH mentioned it to them and they suggested an advance but we don't need an advance, it would just be better if they could keep the normal last friday of the month pattern.1
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Last minute changes like that without sufficient notice should be banned IMO - it's not fair on people like yourselves who have budgeted, but then have that budget thrown by getting less pay than expected.🎉 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
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
Just bumping this back into view as I just BET there will be lots of early pay landing through this week! Remember - it's not yours until your usual pay date rolls round!🎉 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
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her4 -
EssexHebridean said:Just bumping this back into view as I just BET there will be lots of early pay landing through this week! Remember - it's not yours until your usual pay date rolls round!I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£80002 -
Paid yesterday.... all been deposited in it's appropriate pot in the Starling account ... waiting for January, like it never happenedDEBT FREE - Feb '21& Mortgage Free Nov '24
Now, let's look at FIRE2 -
MrEH got paid yesterday - the money will stay where it landed but will not be being touched until the start of month DD’s come out! I have a note of the current surplus for this month and anything remaining of that will be transferred to the 0% CC which ends in February rather than removing the money that is already in savings ready to cover it!🎉 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
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Paid 21st, put everything in Zopa savings easy access account, will draw down enough to cover DD’s on 29th then rest of Jan on CCIf you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing1 -
My pension landed today but we still have money in our current account so wont be touching it until normal payday which is 30th. Mr ES pension gets paid as normal on 1 January although it will be early as that is obviously a Sunday so it will come in on the 30th as well as our SIPPs and ISA drawdown amounts. I will sort out how much will go into savings on the 30th and do the shuffle ready for the new year.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£80001 -
It's approaching that time of year again with some receiving their December pay earlier than usual and many new members may not have seen this thread before.Mortgage started 2020, aiming to clear 31/12/2029.5
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