Budgeting question, how to live on one paycheck a month

Budget101 Discussion List Archives Budget101 Discussion List Budgeting question, how to live on one paycheck a month

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      Oh My, My husband just changed jobs and was being paid every 2 weeks

      at his “old” job and it would just about kill us by beginning of the

      2nd week. I am glad he now will be getting paid every week.

      My advice to you would be to be a month ahead on everything that you

      can be – house, car, fixed payments.

      Because there were times (alot of times) when a bill was due and he

      wasnt going to be paid until a week later but if your late then you

      rack up late fees.

      Good luck with your new job!

      — In Budget101_@yahoogroups.com, “herberkids3”

      wrote:

      >

      > My guess is that when you DO get paid, the amount will be what you

      > need to get used to. Instead of 4 small checks, you’ll be

      receiving

      > one large check- which can lead to unwarrented spending when you

      are

      > on a budget, because a larger amount tends to make you think you

      can

      > afford it.

      >

      > My suggestion is this- deposit it when you get it, but operate on

      a

      > weekly amount like you would if you still got paid weekly. Sort of

      > like paying yourself.

      >

      > That way, you can budget for groceries per week, bills per week,

      etc.

      >

      > — In Budget101_@yahoogroups.com, “stantonpa”

      > wrote:

      > >

      > > Hi

      > > This is a strange question to ask and I need some advice.

      > >

      > > Recently I changed jobs after 21 years in the drafting field I

      > > changed jobs and companies. My new job is cost estimator. I have

      > > never done anything like this before so I am excited to be doing

      > > something new. My background in engineering will be helpful with

      > > quoting for my new job. The pay scale was also a factor in my

      > career

      > > change.

      > >

      > > My question really is about living on a once a month payday and

      > > budgeting bills.

      > >

      > > For 21 years I was paid every weekly but the new company I am

      > working

      > > for only pays its salary employees once a month (Last Thursday of

      > > every month is now my payday.) I started work on September 24 so

      my

      > > first check will not be until October 25 according to the

      personal

      > > manager. This just took me off guard and has already put a

      strain

      > on

      > > my savings. The other kicker to this is after years and years of

      > > letting my debt get out of hand, I started a “debit diet budget”

      to

      > > get my money under control. However, I was only two months into

      > this

      > > budget when I started this new job. My budget right now is

      > surviving

      > > on my saving to get me through this month to my fist paycheck.

      > >

      > > Is there anyone else out there working at a job that pays like

      > this?

      > > Can you give me advice on the best way to pay bills?

      > >

      > > Examples of random thought I have had.

      > >

      > > -I could pay the bills as they come in one by one. (Quick turn

      > > around / in and out thinking)

      > > -I could continue pay the bills as I have been by sorting them

      out

      > > by what week the due date and sending out at the appropriated

      > time?

      > > (This would be a controlled and calculated budgeting as I have

      > been

      > > doing)

      > > -The other option is to set up direct payments from my account to

      > > bill company’s so they can just take the money when due. (Don’t

      > > worry and let them do as they will attitude)

      > >

      > > I have thought of pro’s and con’s to all of the above options.

      > >

      > > I am just looking for some advice from others in my situation.

      > >

      > > Living on this month to month will take some time to adjust I

      know

      > > already. I now have a running joke with my family that this is

      just

      > > my first step into living on fixed income and retirement.

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Budget101 Discussion List Archives Budget101 Discussion List Budgeting question, how to live on one paycheck a month