Needing a little more help (M)

iVillage Member
Registered: 03-26-2003
Needing a little more help (M)
4
Wed, 03-26-2003 - 3:14pm
Ok Ladies it's me again I posted to the board yesterday but, I guess it got lost or something when they put the new boards in. I really need ideas on how to put more money into savings. I don't know why but I can't seem to do it, DH gets paid weekly and I can't seem to arrange the bills to where there's a little more money to put in the savings acct. I would love to hear from people who get paid weekly and how they go about paying their bills and buying groceries for the week.
iVillage Member
Registered: 03-26-2003
Fri, 03-28-2003 - 2:47pm
Hi, I am new to this board and thought I could share with you what I do. I do not get paid weekly but I think what I do to budget our bills etc could work for anyone. I made a list of all the regular bills I pay, amounts and due dates.(Include rent, utilities, insurance, credit card/loan paymts,bank service charges, even a pymt to yourself) I than figure out what bill will come from what pay check (ie. for you base it on four paychecks a month). I try to spread out my bills so that I have approximately the same amount of money left over after I pay the bills. I may end up paying a bill that is due the 30th of the month from my first paycheck of the month (three weeks ahead). As soon as I get paid I subtract my bills in my check book even though I may not physically pay them yet. Some bills vary (utilities) but I know what I pay approximately each month and that is what I subtract. When I get the actual bill I make the correction in my check book. I keep this list and when I get paid I know exactly which bills I will be paying from that cheque. I also split my rent chq (set a side money from two cheques rather that pay all from one cheque). Hope this doesn't sound too confusing - its really quite simple. It may take you a little while to figure out what bills to subtract from what cheque making sure you are paying your bills on time. If your are able to do this than twice a year you will have 2 "free" cheques where no bills come off other than grocery and personal spending and the difference which you can put into savings. (there are 52 pay periods but your budget will be based on 48 pay periods).

Sandra

iVillage Member
Registered: 10-09-1999
Wed, 03-26-2003 - 10:45pm
Hi, toni1971...my husband and I both get paid weekly. We have been paid this way for many years. I sit down each month and figure what bills need to be paid each week so that by the end of the month everything has been paid and on time. I make a listing for each week...then sometime that week I pay those bills so they are ready to be mailed as soon as we are paid. We have paid off some debt recently which has eased our budget quite a lot...I transfer the $ I can afford to each week directly from our checking account into our savings account...trying to build up a nice emergency fund now. I hope you can get a system set up that works for you. By looking at each month, then each week individually you can see any upcoming months/weeks that might be a bit tight and plan accordingly. Good Luck to you!! I also buy groceries each week.

cindylee

iVillage Member
Registered: 07-26-1999
Wed, 03-26-2003 - 7:55pm
I get paid weekly. What I do is figure out what I have to pay that week and then pay it online right away, as soon as I get paid. Then I do my grocery shopping, buy what I need, and figure out if there is anything else I need for the week. Then I figure out exactly what is left in my chequing account, subtract $20 and transfer whatever is left into my ING account. The $20 I subtract remains in my chequing account as a buffer so that I have some cash until the next payday.

I get paid on Thursday, I pay the bills on Thursday or Friday, and and shop on fri or saturday. Then by Sunday night I move the money to ING to make myself purposely "broke" for the week. I spend a lot less each week just because the money isn't accessible. HOpe that helps you.

iVillage Member
Registered: 02-14-2003
Wed, 03-26-2003 - 3:58pm
Hi Toni. I wanted to give you an update about the archives. Yes, there is something amiss with the archives for the Money boards. The techies are aware of it and hopefully everything posted on the last active board (I think that's all that's missing) will be restored soon.

CM Ms Joe Cool

Senior Community Moderator

moneylifecm@mail.ivillage.com

Ms Joe
CM Ms Joe Cool
Senior Community Moderator
moneylifecm@mail