How often are you paid? (from your real job)
By coffeeshot
@coffeeshot (3783)
Australia
March 26, 2008 10:24pm CST
I have just started at a new job and we get paid monthly there. This is a little bit worrying for me as I am terrible at budgeting and I'm going to have to work out my budget in a lot of detail. I am used to being paid weekly and fortnightly. I have a feeling that I will be rich for one week and poor for three!How often do you get paid? If you do get paid monthly like me, how do you budget and make sure you have enough money to last all month?
6 people like this
27 responses
@aenasao (129)
• China
27 Mar 08
i was paid monthly just like you,in our area,the majority of people are paid monthly,we had already used to it,for the budget,i think that's not complex,list out all the charges you must pay within one month,such as daily house charges,water,gas,electricity etc,then,you can use the balance as you like.yet,please be reminded that you must leave some amount of money in case of some urgent matters.
@ringdove (53)
• China
2 Apr 08
In our country, most jobs are paid by monthly. Also I get paid monthly. I do never have a feeling that I am rich in one week and poor for other three weeks in a month. Because I always make a detail budget for every month. I can manage my cash flow in a smooth way, and save money for a rainy day. As soon as I get paid, I will save money in several bank card. One for paying back credit card, one for paying back the loan, one for investment, one for the bill I need to pay out, such as utility bill, telephone bill, and the last one is save some money for my daily use.
I suggest that you can make a detail budget every month, and use the money reasonable for everyday, in thus way, you will never be worried about the late week in a month.
@bronie123 (4587)
• United States
28 Mar 08
Monthly omg thats got to be hard i get paid ever two weeks and that stressful to me !!!
Thats got to be hard to pay your bills with that type of pay period
@DESMASTER2007 (1130)
• United States
28 Mar 08
I actually get paid every week. I play drums for my church. Plus I also do network marketing for Isagenix. Plus I am doing different sites like mylot and mysearchfunds. I am happy though because I get blessed by GOD alot of times with money. One time I gave all my all to my church. The next thing I know I go to my god mother's house. Before I leave she gives me a check.
@ctentler (3)
• United States
28 Mar 08
I get paid every two weeks. works fine for me. I have become a much better budgeter, but in the past I was horrible at it. I did have one job that paid monthly and i was so worried that I would blow the money in the first week I hid the money from myself.
Heres how.
I had my paycheck direct deposited into my savings account.
Then, I set up weekly automatic transfers into my checking account, based on what my weekly salary would be.
the best part was, the money earned interest in my savings account while I wasnt spending it. :)
@KrauseHome (36448)
• United States
27 Mar 08
Well, my husband and I get paid every 2 weeks. Sometimes it works out to where each week one of us has money, and then there are sometimes, it is the same week. For us, it definately works better when it is every week as then we know someone has the $$ for gas, etc. but it does take Budgeting even then to make sure we have enough. Lately, it is always me having the Extra as he pays the BIG bills, and then I am responsible for things like Cell Phone, Internet, Groceries, etc. that are mostly in my name though anyways. I find the Best way to Budget for us, was to Write down what Bills we had each month, then figure out a Budget from there. Maybe make sure you set all of this aside first, and then with what is left over, you might put into Envelopes, etc. like we have done before, with like week 1 ... week 2 ... week 3 ... week 4, and try to only spend what it is in each envelope in the way of extra $$, and see if this helps any. Good Luck to you.
@butterflygirl (498)
•
27 Mar 08
Hey Coffeshot. After spending years living on a weekly wage I suddenly found myself in a job where I got paid monthly. The way I oped with this was by setting myself a strict budget. The first thing you need to do is work out what our outgoings are - such as mortgage or rent payments, bills (electric, gas, water), food (I usually find it's best to do a big monthly shop and then pick up the things that don't keep such as milk and bread on a monthly basis). It's also advisable to give yourself a budget for what you can spend on yourself - you might want to divide this by 4.5 to work out what you can spend on a weekly basis.
Hope this helps and good luck!
@maddysmommy (16230)
• United States
27 Mar 08
When I was working seasonal during the Christmas period I was getting paid weekly. Felt good to get that every Friday. My hubby gets paid biweekly (every two weeks) and I managed a budget for us.
@enchantedleppard (1541)
• United States
28 Mar 08
I get paid every two weeks. I dont think I could function in day to day life only being paid once a month. I mean, I guess I could get used to it eventually but getting there would be a big issue. Since you just started, come back in a month or so and let us know how its going??
@mykmari_08 (2464)
• Philippines
27 Mar 08
I have been working in this financial institution for more than three years now. But this is the third company I've worked with. And ever since I started working, these companies here in the Philippines pay salaries twice monthly. Some offices have salaries every 15th and 30th of the month while some pay during 10th and 25th of the monthly.
I guess the only advice I could give you if you're having problems with the manner your salary is being given is, engage in small scale business at the moment. You could have a garage sale every month or like me, I sell prepaid cards or cellular phone loads which I get 10 percent income from. It's not big but it still adds up for our daily expenses especially for the meals and transportation fare. Another thing, you could save up a minimal portion of your salary to be used for rainy days.
@Jimmy3371 (142)
• United States
28 Mar 08
I get paid twice a month now and we have no trouble with that. When I was in the Army I got paid one time a month and it was ok also. My wife is very good with money and she handled it very good. but now I really get paid every week cause I have more then one income coming in so we are all set now
@jenni7202 (1598)
• United States
27 Mar 08
I personally get paid bi-weekly, and I hate it. My boyfriend works for the same company as me, and he gets paid the same time I do, which means we have to budget our money. It makes it difficult though, because we have a lot of bills to pay when we get paid, and we tend to run out of money fast, just from paying our bills!
@karma118 (294)
• United States
28 Mar 08
I get paid bi-weekly and its still hard for me to budget. The only thing I can think of to tell you is divide your monthly earnings by 4 and don't spend over what you would make in a week. (If that makes any sense at all!) Just see how much you clear every week based on what you make in a month and HIDE it from yourself so you can't spend over that amount!! Good luck!
@sacmom (14192)
• United States
27 Mar 08
My husband gets paid from his job every 2 weeks. I keep tabs of what bills need to be paid during those 2 weeks and wait until the next pay period to pay any upcoming bills for the rest of that month. And then the process repeats the following month. Sometimes I have to do a little juggling because of the paycheck though, as my husband's checks always vary in amount, and sometimes they can be bit short. It usually works out, and we usually make it without being overdrawn. Though there have been some close calls.
@melovean (160)
• India
27 Mar 08
wel...as i am from india...i get paid monthly...i get piad on the 1st of each month....i have a financial planner wit me...what i done is...1stly i keep an estimated amount from all the bills...lets say avg. monthly bill of electicity is around 500rs...then i keep tht amount in one cover...then similarly for all others...thn i have invested few in MF every month....then i giv money to my mom for running home...keep some money for me...exactly...i am saving around 30-40% of my salary...i have designed in such a way tht i can enjoy all the entertainment...fun..parties...etc...
regards,
melovean
@fajmarz (29)
• Philippines
27 Mar 08
I was also paid monthly with minimum wage..I had to earned for my family so I have sidelines to fit our needs and neccesities its hard to budget so Im looking for more possible way to earn money like selling.In my job right now its hard to save money,what i earn from now is just right for our daily needs