Regular savers strategy (paydays varying)

perifian

If one receives two benefit payments on variable days of the month, in order to reduce faff, could it make sense to withdraw predicted monthly expenditures plus a 30% buffer to one's current account from an instant access savings account (which has a higher interest rate than one's current account) on the first day of the month, whilst depositing 20% of one's income (in accordance with the 50-30-20 needs-wants-savings recommendation) plus the previous month's switching bonuses into regular savers, then depositing benefit payments and switching bonuses into one's instant access savings account as soon as they come in?

Being a little brain damaged, I'm guessing it's far from ideal, so I'm mostly hoping for a better suggestion...

WillPS

Whatever works for you is fine. There are no hard and fast rules other than to make sure you meet the minimum monthly pay in for accounts which have one.

Eco_Miser

That would work.

My solution is a spreadsheet that lists all expected incomes and outgoings (including to Regular Savers and Instant Access saver) in date order, together with resulting balances, adjusted as necessary to match actual events. Then schedule a withdrawal from the IA at the time and amount best placed to cover future spending. More faff, but more interest. I think it's pointless moving excess money from the IA if there will be a payday before that money is needed, and the payday money will be moved to the IA.