Does anyone else hate payday?

[cjt110]

I know it sounds random but I hate it. It gives me anxiety and makes me feel like it's a bloody military manouvere. Moving money to different accounts for things. Remembering if I have used my DD card in the last few days to account for it. Budgeting for the month ahead. And I always fall on my arse a few days before payday.

How do you all manage? I used to be great with finances but then it's all just gone a bit shit.

Most bills go out on direct debit, so I don't have to think about them. I also have some money going to a savings account by a standing order, so I don't have to think about it.

Why has it all gone shit? What has changed, if you used to be okay with it all?

Well most of my bills are direct debits so it's done automatically. Maybe budgeting yearly instead of monthly will help you. I write down every bill and expense I can think of, budget for holidays, presents, meals out, savings, insurance etc. and add up the total for the whole year (some expenses will be monthly, bi-monthly, annually, but get the total). Then divide by 12. That's how much needs to be put aside each month to work for you, and anything left is your spending money, as it were.

Can you set up standing orders for the money you’re moving around? Everything I have is on direct debit or standing order so I don’t have to do anything, except for nursery fees, and that’s only cos I can’t find my flipping card reader to set it up.

I love payday. Best day of the month :D

Why is it so complicated? Why are you moving money into all sorts of different accounts? Surely payday is a good thing????

One account here which everything goes in to and out of. No movement of money until the end of the month when anything left over gets swept into a savings account (rarely anything there at the end to be honest!).

I literally live by the month now. We're ok for money. We honestly are but I have no savings. Or any buffer fund to fall back on. I live month to month and spend every penny.

I';m fed up of feeling like I'm skint.

We have all our bills etc sorted but the money we each take to have for our selves for a month, I end up with naff all to show.

I have my own account which I keep my "spends" in. I have a historical one with direct debits going out of. We then started a joint account when we were saving to get married. Essentially this is used as a savings fund for holidays/big bills/buffer. The funds in there are already allotted to something so essentially not touchable. DH then has his own accounts with the same set up as me.

The bets thing I did was lose my purse a few weeks back and had no card so I couldnt spend money!

If you have an account where you save for holidays / have a buffer, you are not living month to month.

Do you and DH have the same amount of spending money?

Do you get to spend yours solely on you or do you buy household or children's stuff with it?

HellonHeels We do have the same amount of money per month.

I tend to spend on bits and bats for the house, our son, my dinners, me, him....

Why not just spend less and be in credit by the end of the next month

Can you reduce any spends so you have savings for a treat for you?
i know how you feel, you receive money, you allocate it, and there is nothing else left. no splurge, no excitement

Mines a direct debits and standing orders, I don't find it stressful at all.

Anything for your son should be joint money not your "spends" I'd stop buying yourself lunches (if that's what you mean by dinners) and take something with you - will save £££££

Sorry pay day comes and goes without me noticing.

Everything is set up with Direct Debit, no money transfers, actually nothing at all to do.

Not much help.

I wonder if I should just sweep some funds straight into savings?

I love payday!

DH and I do money for bills and food first, then a budget for spending, and then savings. But if your budget for spending doesn't allow any saving, then save first, and spend what's left.

I used to live from payday to payday until a friend of mine persuaded me to use YNAB (You Need A Budget). I was initially put off because after the initial trial it costs about £4 a month to use but I was hooked within the first few weeks.

In 12 months I've gone from being constantly in my overdraft to being in credit, having savings and budgeting for future things that previously id be dipping into my overdraft for.

There's loads of stuff on the internet about YNAB, loads of discussions and recommendations. What finally persuaded me to try it was when I found people on moneysavingexpert recommended it, they generally won't pay for anything lightly.

I keep one month in the account. Then I am only moving next month's budget (savings and holiday fund). Giving me room to change anything.
But no anxiety. You might be over complicating it!

My DP and I put EVERYTHING that is a joint spend on our 'house account'. It includes a budget for lunches out, buying odds and sods for the house, holidays, long term savings. When we have kids, every single penny of their expenses will come from that account.

Our own 'spends' money is then exclusively for us as individuals, for us to make personal savings and spends from. Most of the time we'd get joint dinners etc on the house account, but it's nice to be able to treat the other occasionally too.

I have no idea why people use a joint account for bills/mortgage but not for the more ad hoc and pleasurable costs of living together.

NoraButty

It's good that you have found something that works.
I don't use a budget. OH and I are naturally quite frugal, so budgeting wouldn't make any difference.

"The bets thing I did was lose my purse a few weeks back and had no card so I couldnt spend money!"

You sound like my Sister. She used to often say that she couldn't afford things that I could and I'd wonder why (she's childfree and has a good job).

Then I spent a few days around her. She can't not buy things. Won't take a packed lunch and think that days out have to involve spending out.

The only answer is to get ruthless with your spending/buying.