Paid weekly but monthly bills

Nasqueron

General_Grant said:

wigglers said:

Northern_Wanderer said:

The best way is to have a separate "bill account" and you make sure that you fund that with the required amount of money to cover all your bills for the month. So, by getting paid weekly, set up a standing order each week to your "bill account". If it's in a separate account, you can't spend it and you also don't have to worry about anything as it is all automatic.

Yeah that's what i plan but i mean how do i know how much the actual bills will be over an actual year or month if ui get paid weekly but it's not just set amount weekly some are more some are less 

What is the least amount you would receive in your pay?
Would that multiplied by 4 plus your fiance's monthly contribution cover your minimum monthly outgoings?

Personally I wouldn't want to pay £40 for a budgetary software package but clearly some people do.  Sitting down say once a month with a piece of paper and a pen or a spreadsheet would be enough to plan.  I know that takes a bit of time but so does keeping track with a budgetary package to make sure you are still on course.

I would add to this, once you have a typical month or so on a spreadsheet, you can copy and paste it for each month, adjust the dates to allow for weekends and bank holidays and use averages for variable bills like a CC. This is how I run my finances while maximising the amount held in accounts that pay interest, bringing in the bare minimum each time there is a bill due. My mobile phone for example is always on the 10th, or the following working day, my CC is set at an average amount which can be pushed up or (hopefully!) down if I have been careful with the budget

xylophone

How about opening a joint  current account with your fiancee from which all household bills are paid?

Santander Edge might suit.

https://www.santander.co.uk/personal/current-accounts/santander-edge-current-account

You can transfer weekly from your sole account and your fiancee can transfer monthly from hers.

You will also have access to the Edge saver.

molerat

You don't need paid for software to work it out for you, a simple spreadsheet will do and you can tailor it to show exactly what you want it to.  I have used one for years starting off with a piece of paper way back before the days of home computers, much easier now and no rubber / Tipp-ex needed.  My current one uses one bank account to run current spends, budget bills and savings, current spends includes managing 6 credit cards.  Currently the savings column is >£1K negative as that is current spend and budget allocated money that is not immediately needed so is away somewhere else earning interest.  We get paid on 5 different dates each month on monthly, 4 weekly and irregular cycles so it makes managing things easier.  It shows me at the bottom how much I have to spend for the rest of the month and what the balance in the bank account will be on any day.  Each column can then cross subsidise another if necessary for a short period. Currently some bills will push the bank account into negative on 20th so a few hundred from the linked savings is set up to automatically move across on 19th. 

penners324

FlorayG said:

I asked the same recently. The best option I got ( and I do now) is every week put away enough for 1/4 of your bills into a different account, and have all your DD paid out of that account. So every 4 weeks you have enough to pay 1 month's bills. Come Christmas or a special occasion, you have a little savings bank also there because you pay in 52 times and pay out 12 times ( 48 weeks)

And can be easily done with Starling and Monzo

PRAISETHESUN

You need to sit down and figure out what you actual outgoings are over the course of a month. Most of these will be fixed, and you can add in a small margin to cover any bills that are variable. From there, just transfer 1/4 of the monthly cost each week into your bill account after you get paid.