- This topic has 18 replies, 1 voice, and was last updated October 15, 2007 at 4:13 pm by .
- October 15, 2007 at 4:13 pm #253759
That is a very good idea. I usually take out the money I need for the
essentials such as credit card bills, rent and utilities first. then i
give myself a weekly allowance out of my own funds so that i can
monitor my spending. it really helps in keeping track of your money. i
actually take out my allowance as cash in hand and do not use my debit
card which guarantees that i stay on track.
— in Budget101_@yahoogroups.com, “herberkids3”
> 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”
> > 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
> > 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
> > 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
> > 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
> > budget when I started this new job. My budget right now is
> > 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
> > 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
> > (This would be a controlled and calculated budgeting as I have
> > 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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