Converting salary from monthly to weekly

EssexHebridean

chkir said:

He can’t get a job for another month when he turns 16 which he is excited to do 

Unless things have changed the age for a part time "light" job is still 13 I believe.  Good to hear that he's excited to get a job and start earning his own money though - good for him! 

878robin

MerryGoRoundAvoider said:

For me it's taken years to have a watertight realistic budget. It's hard as you have 4 week months and 5 week months, some months with more fuel usage etc and some with less. And I'd say I'm pretty good with money. It sounds like you are at the beginning of your budgeting journey. I know it looks like a total PITA but honestly, when you sort it out it's brilliant and you know exactly what you can afford ... there's zero guesswork. 

Now we're not hard up at all but we did find we'd jettison tons of money on a food shop for the first few weeks of the month and then inevitably run out towards the end of the month, which was annoying and stressful.  Budgeting weekly for that has been great (create savings accounts for each of the weeks in the month and withdraw it into your current account at the beginning of that week when you go to do the shopping). For months with only 4 weeks you save a bit more which goes towards the 5 week months that cost more. So for us £100pw tends to be reasonable and we put aside £430 per month. It's not totally perfect but if you overspend you immediately know about it. HTH.

It's great to hear how you budget so well weekly. Only getting paid once a month or 12 times a year is so inflexible and doesn't allow for unexpected costs. In America, everyone gets paid bi-weekly so not sure why we're still stuck in the monthly pay cycle in the UK, it doesn't make sense. 

monetxchange

I don’t know, I know people paid in the American way and they struggle to have enough for bills because of poor budgeting and blowing too much in the first two weeks and being tight on the second. Getting paid monthly is fine - as long as you budget for everything and have an emergency fund for things that may come up unexpectedly, you should never run out of money as such (barring a disaster).