Monthly and weekly wage help !!

eperlizzy

So I am looking at being debt free I thought about the piggy banking idea but
my issue is I get paid monthly and my Hubble weekly 
I usually pay all the DD credit card bills etc so not much of my monthly left 
then the weekly wage pays for food petrol and everything else 
any ideas please ?? 

sourcrates

Hi,
Welcome to the forum.

It would help knowing more about your situation as the parameters you have given us are a little wide.

Ideally complete a statement of affairs, the link to the calculator is available in the stickie post, at the top of this forum, so we then have figures we can work with.

That way we are not clutching at straws so much.

Jami74

eperlizzy said:

So I am looking at being debt free I thought about the piggy banking idea but
my issue is I get paid monthly and my Hubble weekly 

For a long while I was paid weekly (and differing amounts) and Hubble is paid 4 weekly. Now I am paid monthly, so I have 12 yearly pays and Hubble has 13.

For my own finances/budgeting I transfer all of my income into a 'holding' account on the day that it lands in my current account. Then, on the first of every month I pay myself the right amount of money needed for that month.

We have a joint account which is used purely for fixed monthly bills (such as rent, council tax, water, electricity, broadband etc)  which we both put a fixed amount in each month. Hubby pays his share in every 4 weeks on the day he gets paid because that's what he finds easiest (it means that one month a year he pays in twice but this has been worked into the calculation).

I pay for the food and Christmas (I earn a lot more than hubby). All my purchases are made with a credit card which is paid in full each month by direct debit. Doing it this way means I know how much I need for that bill before I pay myself on the first of the month. When I first started I got a new credit card which I put all purchases on, leaving my pay in the holding account until the first of the next month. Obviously if you do this be very careful to make sure you will really leave the money in the holding account and not be tempted to spend it elsewhere.

Yearly bills get divided by 12 and put into a 'piggy bank' each month. It takes a bit of figuring out in the beginning. Debts/savings are also paid on the first of the month. My income varies from month to month so if one month it is a bit higher then I leave the extra in the holding account so it is there if another month is a bit lower. My aim is to have a month in hand in the holding account but I'm not there yet.