Monthly Pays

[~Hestia~]

My DH gets paid monthly. I used to get paid fortnightly, so there was always someone's pay due. But am now on unpaid maternity leave. We don't qualify for any C'link payments except FTB B (I think that's the one) which will be paid at tax time.
Last month was the first month we just had DH's pay & we did ok. It got very tight towards the end but everything was paid at least!!

I'm just curious how other people manage on monthly pays? Do you divvy it up into fortnightly amounts? Weekly amounts? Wing it like I did?

[mzcatieboo]

we get monthly pays and it sucks but we made do..

All the bills get paid when his pay goes in as i roughly know how much needs to be put in.. and then we have Spendings, Fuel & Food money set a side.. we just fill the car up and it lasts a month. Food shopping we buy all the meat and everything one week and the next we just buy the fresh food we need so that we arent spending more then we have.

we have been doing it for 13 months now and its still hard to get used to

good luck hun

[C~Q]

When I was married that was how we did it...I organised all the bills to come out around the 2/3rd of the month and then worked out hoe much I spent on groceries etc per week and tried really hard to stick to that!

Cate - can I just ask...do you really fuel up your car and it lasts a month??? I'm lucky if I can squeeze a week out of my tank!

[mzcatieboo]

When I was married that was how we did it...I organised all the bills to come out around the 2/3rd of the month and then worked out hoe much I spent on groceries etc per week and tried really hard to stick to that!

Cate - can I just ask...do you really fuel up your car and it lasts a month??? I'm lucky if I can squeeze a week out of my tank!

I have 2 tanks .. even tho we live in a small country town i go to DH work atleast 3 times a week and thats 15 minutes away and we always go 4WD on the weekends. def helps having 2 tanks tho.

[AllisD]

Hi

We used to get Monthly pays but with a change in jobs at the beginning of the year we are back to fortnightly.

We were on Monthly for years and I didnt really think too much about it but there were a few things that I did.

1. Set up another bank account with NO card access
2. Organise for all loans/regular bills to come out of this account
3. Organise a set transfer for the amount of all bills/loans to be automatically transferred when paid each month or some companies will pay directly into 2 accounts.
4. Set up a isaver/direct account with high interest savings.
5. Organise a direct transfer of a set amount (it doens't have to be huge - $50-$100 or even less) into this account. Again make sure that you do NOT have card access to this account. This was our savings/emergency fund.

I used Internet banking a LOT!

The money left over is your money for the month. I then used to divide it by 4 and only spend what was supposed to be allocated for that week. I lived in a rural area so only used to shop every 2 weeks to monthly.

I hope that this helps.

Cheers

Allis

[AngelPunks]

My goal for this year is to live off my fortnightly pay for the month, well attempting to do that until we move, then NFI how we'll get paid then (family business with travel & living paid for)

[Liviam]

DH used to get paid monthly and I completely sucked at budgeting. I had to open two bank accounts and pay us fortnightly because I just couldn't get the hang of it. Good luck darl.

[~Hestia~]

Thank you for all your replys & ideas!!
I especially like the sound of an accural account & automatic deductions for bills.
Lots to think about & organise now!!

[sassy123]

Dh is monthly and my pay is weekly

we normally put most things on the cc and then pay it off when DH gets paid so it is always gone b4 we have to pay interest on it.