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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      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