Encouragement needed

princessdaisy2k

Ok, so I was working part time and was quite happy getting by. My employers then gave me six notice of my job finishing but they had a full time job going and I could apply with the rest of the population. I have a mortgage and couldn't afford to be unemployed so applied and got the job which is the same job I was doing before but 5 days instead of 3. So I presuaded myself that taking the job full time would be for the benefit only of becoming mortgage free so much quicker and then I could take time off and do what I wanted afterwards. I reckon it will take me 3 1/2 years to be mortgage free and have restarting a mortgage pig too, putting lose change in every night which in the past I sent to the mortgage company and was around £60-£80 per month. But I now have to chance from weekly to monthly pay. i will get a salary on 28th of this month but this is only going to pay for the mortgage cost and leave me with nothing else. So I now will not get any real money to live on until 28th of July and this seems ages off. Am I being too ambitious? I have having to pay ever increasing petrol cost for the same journey to work and am trying to find a car share but have had no joy at all although I see the same people on the journey to work every day doing the same route. Any encouragement would be great.

galadriel

Moving from weekly to monthly is a struggle. When I did it many years ago I was lucky enough to be able to apply for a mid month advance for the first three months which helped. Does your employer offer a similar scheme? Good luck on finding a car share.

EssexHebridean

Tough one princessdaisy - if you're not able to arrange a gradual change (being paid a week later each month until you've switched fully over to monthly pay) then you need to indulge in a serious bout of belt tightening. You also need to think carefully about exactly what you can and cannot pay - do you have utility bills etc due that will be a problem? Inventory your cupboards and work out what the minimum spend you can make food wise is, check out the Old Style board too for ideas on living on a budget. Good luck and let us know how it goes!

Oh - and most of all, congratualations on getting the job! :T

ailuro2

I'm in the same boat this month, but my weekly pay had two weeks lying, so I get paid for two weeks then have to wait till then end of the month.

Top tips to avoid spending cash in near future-

wait till after your credit card statement date where possible before buying shopping/petrol etc. then pay it off in full at payday. I reset my payment date to 3rd of the month so that I've always been paid before the bill is due (set up to pay off in full every month)

eat out of the freezer and tin cupboard, fishfingers and spaghetti is pretty cheap. Plain pasta with some tinned tomatoes and a few frozen prawns left over from Christmas would make a healthy option dinner.Same goes for rice strif fried with frozen veggies.

I was also offered an advance on my wages, but chose not to. I think most employers do this.

Top tip for your extra money - put it all into savings or mortgage, whatever offers best interest rate, do it now, before you get used to the extra money!:D