Monthly vs weekly pay?

[chxjw]

DP wants to go for a job that is weekly pay rather than monthly.

What are the pros and cons of weekly vs monthly pay?

He would need to be super organised bills wise. Do you both pool salaries? If so it's easier as you can set all direct debits to go out the day after you get paid, then use his weekly wage for food shops/weekly spends.

I suspect easier to budget on weekly pay.
But I’d be asking about bank holidays (do you get paid on the Thursday before, same with x-mas etc.
It would make paying bigger bills more difficult as it would take up a bigger chunk.

He gives me half of everything for the month at the moment when he gets paid.

If he was to move to weekly pay, he is saying he will divide what he owes by 4 and give me that each week so that at the end of the month when I get paid and the bills come out then it's there.

I've never been paid weekly so I can't say if it will be better/worse etc..

You have to be organised and work out how big bills are paid. I’d set up a spreadsheet with when all your bills come out and when payments would go in and see if there is enough of a float for it to work, especially at the beginning.

If you are more used to monthly, set wages to go to a separate account and transfer to normal account once a month.
Might even be better cause you could just transfer what you need and save more

I used to get paid weekly, such a pain in the arse. I had to spread my direct debits through the month. Much prefer monthly pay.

Thanks everyone, I really appreciate your replies.

I've told him we definitely need to look into it more before he makes a decision, the new job would be so much better for us as a family.

He's working terribly long shifts at the moment and we are expecting DS1 in May so I have told him this needs to be considered also.

It was the money thing that was worrying me as I have no experience of being paid weekly at all

If he was to move to weekly pay, he is saying he will divide what he owes by 4 and give me that each week so that at the end of the month
There aren't 4 weeks in a month. If you are going to keep up your current arrangement, he should give you half each time he gets paid. Or divide by 4 if it is a month with 4 paydays, or divide by 5 if it is a month with 5 paydays.

I was going to say similar to the previous poster. What he needs to do is multiply the current amount he gives you by 12. Then divide that by 52

I would set up a new bank account and put each weeks in the account. Then at the point he would get paid now I.e 30th transfer to your current account. That way if he goes to a job on monthly pay after you won’t have to rejig finances (bitter experience)

My ex P used to get paid weekly. It worked quite well actually. My salary covered all the bills and we used his for food, petrol and any spending. I liked it as it meant we never had that horrid week at the end of the month with hardly any money.

@VioletCharlotte yep can totally relate, this week is that week!!

It's awful

@chxm19 me too 😩 I got paid on 20 December and this month's pay day is 31st!

I do weekly and monthly payroll as part of my job. Neither is an issue, just needs a bit of jiggling!!
With you being paid monthly and him weekly, this could work beautifully?

I prefer monthly. I get paid 4 weekly which is a pain for direct debits.

@Oblomov19 I think it could work great too.

As a PP said, I could cover the bills with my monthly and he the weekly things!

I loved it when DH was weekly paid. My monthly covered all the bills and his was used for our weekly spends. Same as pp, it meant we never ran out at the end of the month!