Weekly Pay vs Monthly Pay

[Mochachino]

For people who have experience of both, which do you prefer and which do you save more money on?

Ive been on weekly pay for a good while now and find it ok. Now im going onto monthly pay and I think I will be able to save alot more.

[Ryancoyle]

I think fortnight pay is better.

I used to be paid monthly but always ended up spending my money within 2 - 3 weeks lol

[GolfJay]

Weekly was great as I always had cash but it sucked for monthly bills.

We're lucky. I get paid monthly and pay the bills. Other half gets paid weekly so that's spending money to us.

[TomT]

Monthly's easier to manage and sort bills I think.

Did some work getting paid daily, I'm quite good with money but it made it very easy to spend money I didn't really need to.

[knight-22]

I used to be paid monthly but always ended up spending my money within 2 - 3 weeks lol

^ Haha yep, exactly that. But then my 'money management' is poor to say the least. Allways go the fourth week completely skint! :(

But then as said aswell, getting paid monthly is much better when you've actually got stuff you need to pay for.

[Mochachino]

I think fortnight pay is better.

I used to be paid monthly but always ended up spending my money within 2 - 3 weeks lol

Thats what im worried, but mine also comes with a pay rise so should cope alright. Its just budgeting for fuel and food for the month I guess as it aint like a direct debit lol

Weekly was great as I always had cash but it sucked for monthly bills.

We're lucky. I get paid monthly and pay the bills. Other half gets paid weekly so that's spending money to us.

Sounds like a good way of working things there!

I think weekly is good as its alot easier to budget, but also I think monthly will be better as its a lump of money I wont want to dig into. Small amounts of money such as £100 I find easy to bite into where as I have more respect for anything over that. I usually had around £140 saved each week, so it was a lil harder for me to save.

[Steelies]

I prefer getting paid monthly, easier to save however you do get the odd month here and there where you spend too much and have to go careful for the remainder.

[GolfJay]

Thats what im worried, but mine also comes with a pay rise so should cope alright. Its just budgeting for fuel and food for the month I guess as it aint like a direct debit lol



Sounds like a good way of working things there!

I think weekly is good as its alot easier to budget, but also I think monthly will be better as its a lump of money I wont want to dig into. Small amounts of money such as £100 I find easy to bite into where as I have more respect for anything over that. I usually had around £140 saved each week, so it was a lil harder for me to save.

To be honest we're lucky. I'm going to try and type this without it sounding like bragging as that is not my intention at all.

My wage alone is enough for us to live on monthly quite comfortably. We have takeaways and nights out etc without having to worry to much. Her wage on top is a bonus as it lets us do more.

HOWEVER, that said I don't save at all. Absolutely zero. So where some people do steugfle they're also putting away for the future.

I live and spend for now. Whatever monetary(sp?) Issues the future brings i'll deal with then.

[blackie_2k5]

had weekly pay for a long time..was never skint..its alot easier to save as you only have to go to the next week before you get paid..but i lived with rents then

much preferred it

then moved onto montly and have been a good few years..its alot harder to budget..and also save but you get used to it

the good points are you can get all your montly bills out the way in one..so now im moved out and have rent etc its alot easier to see what ive got left and so on

both have plus and minus..but now im on monthly pay and having to sort lots of bills and so on..couldnt imagine having to go back on weekly!!

[Quick]

Just make sure that all your bills come out just after payday!

Most places will be flexable in changing dates for payment!

[e8_pqck]

Done weekly - was ok, but didn't save much.

Monthly - lived like a millionaire for first two weeks then it was counting down days until payday

Now I get paid every two weeks and i've never been short.

[webby]

getting paid monthly can be a pain in arse sometimes. lets me save but also can catch you out if its a long month or if you're espcially bad at budgeting like me. all my bill come out on the same day then i spend like a mad man then im skint for 29 days lol.

[nicole_]

I always preferred weekly when i lived at home, but since moving out I reckon it makes more sense to be paid monthly as you're bills can go out all in one go after you're paid :)

[Saxologist]

I'm paid monthly, I find it difficult to manage bills as they come at at seemingly random times of the months.

When I was working for McDonalds who paid fortnightly, it was much easier as you get money more often

[jones91]

I much prefer getting paid monthly, as I find it easier to save money and pay the bills

When getting paid weekly I found that i had pretty much no money some weeks after paying the bills

[Sam]

I've been paid both Fortnightly and Monthly, and found that monthly was so much easier to budget. Especially with the mortgage and house bills :)

[Tommo87]

I find monthly pay easier, pay out what I need to, put £225 aside in a separate account to cover fuel and training, the rest is spends and whatever is left gets stuck in another account.

[mlawlan69]

always been paid weekly, could not imagine being paid any otherway!!!

[smiith]

Prefer weekly, easier to budget things.. When i was on monthly, id get to the start of the month, then think of what i wanted, then have to think through, what other costs i would have through the month..

Where weekly, i can think, i will buy that tomorrow.. Then know next week i will be paid again, to get money for something else..

[Scott]

I have only ever had monthly and if it were to change to weekly I would need to change all my direct debits to manage weekly payments. 99% of my bills are opthe day after I'm paid so I know exactly what's left...

Though regardless of weekly/biweekly/monthly you would have the same money coming in, it's down to perception and managing your cash properly :p

[Dom]

There are many pro's and cons of all.

With Monthly, I find it easy to have the direct debits and debt payments come out on the 1st of the month, therefore leaving me money to last the rest of the month.

BUT.

15 days into the month, I find myself skint.

[admad]

I have been paid both weekly and monthly. Monthly always leaves me skint towards the end.
Im now getting paid twice a week (Monday and thursdays) and it's great as my money only has to last 4 days now.

[motocrossjord]

Since i started earning some ££, have always been paid weekly, was alright but as already said money seem'ed to go very quickly!

Start of this year, new job = monthly pay. Hated it at first, love it now, can save soooo much more. Also knowing i have to wait awhile till i get paid stops me from spending too.

[Baz]

I used to get paid weekly which was great, just going to being paid monthly. Can't wait for payday and its ages away.

Think its gonna be easier to save on weekly I'm thinking.

[Giraffe]

I went from monthly to weekly and back to monthly and at the time given my circumstances was very well off in terms of savings regardless of pay frequency. Can honestly say that it made no difference how I was paid. It's not like you get paid more being paid weekly, still need to budget and spend within your means. Sounds like the majority on here need to learn how to use excel/pen and paper and plan and stick to a budget.

The ONLY downside I felt to monthly pay is that it feels like ages when you're trying to save up; big but infrequent chunks. Weekly feels more satisfying because it's often, but feels shit when you realise you are putting away often but it's still not building up...

[Dom]

How come pros gets an apostrophe but cons doesn't?

I wanted you to correct me Tom <3 you've made my day.

Or it could be the shite iPhone auto-correct.

[matt_vtr_15a]

I really struggled in the past when I was on weekly pay, as I don't organise my money well.. and end up spending it and then being short for bills etc..

Monthly is soo much better for me, get paid on the 26th and have all my bills go out via direct debit on the 28th..

I transfer £xxx to my savings and then the rest is for petrol/drink and treating myself etc. :y:

[devilsadvocate]

Most outgoings are going to be monthly...rent, utilities, phone bills etc.

I get paid monthly on 25th (or there abouts) and every one of my outgoings comes out the same day.

[L33h]

I get paid monthly. I think its better for bills etc but i always end up spending a fortune in the first week.

What ive been trying to do lately is buy the stuff i really need, then working out how much i have left and split it into how much i can spend weekly

[Giraffe]

I get paid monthly. I think its better for bills etc but i always end up spending a fortune in the first week.

What ive been trying to do lately is buy the stuff i really need, then working out how much i have left and split it into how much i can spend weekly

Simple really isn't it?

Step 1: Money comes in, you'll usually know how much in advance.

Step 2: Set aside money that NEEDS to go out, and anything you want to save.

Step 3: Find out how many days/weeks until next pay day.

Step 4: Take remaining money, divide by previous figure, depending on whether you want daily/weekly spends and stick to budget using willpower and sensible head.

Step 5: Prosper and potentially look down your nose at those less fortunate/intelligent until someone more fortunate/prosperous/intelligent comes along.

[Llardy]

I get payed monthly now. my rent and other bills go out on the 1st of every month. once they've gone out I spend as little as I can until the week before payday, which is when I either go mental with the money or withdraw what's left and put in the "new car" fund.

[L33h]

Simple really isn't it?

Step 1: Money comes in, you'll usually know how much in advance.

Step 2: Set aside money that NEEDS to go out, and anything you want to save.

Step 3: Find out how many days/weeks until next pay day.

Step 4: Take remaining money, divide by previous figure, depending on whether you want daily/weekly spends and stick to budget using willpower and sensible head.

Step 5: Prosper and potentially look down your nose at those less fortunate/intelligent until someone more fortunate/prosperous/intelligent comes along.

Exactly!! :cool:

[Prickle]

I get paid weekly and its easy to save.

Simply do not waste money on pointless crap. No brainer really.

then again im very good managing my money so :D

I know lads at work that are skint weekly.. and some are on more then me.

[craigy_87]

get paid weekly and have all my bills set up around a week apart, then have a week with no bills, seems to have worked out alright

[Mochachino]

At the moment all my bills come out within one week at the beginning of the month which is when I get paid which is handy.

I'm also very good at saving money when its of a half decent amount as said £100 upwards, anything below that I find really easy to spend as I don't see it as a substantial amount of money to hold onto.

I already have the capability to save £560 a month, which I proved to myself this year. However I now have a pay rise of around £360 a month, so im hoping I dont learn to live to this new salary, but live to my old one. To save more dollar. Thats what im thinking anyway.

[Saxlow]

I was always better off when I had weekly pay! It's so easy to spend when u get paid monthly I think.

[Carlvtr88]

For people who have experience of both, which do you prefer and which do you save more money on?

Ive been on weekly pay for a good while now and find it ok. Now im going onto monthly pay and I think I will be able to save alot more.

Thats the way i see it mate.

Its nice to have some left after payin bills, not paying bills in bits n drabs then only having 20 quid left a week . You spend that then realise you cant fuckin save on weekly.

[Barry123]

Fortnightly. Like my dole payments

[Carlvtr88]

Fortnightly. Like my dole payments

Lol, sick guy !

[Barry123]

I used to get £174 a fortnight on the dole. Rediculous.


I have a family of 10 to feed and a Saxo with carzone body kit to run.

[e8_pqck]

I need to get my saving head back on, kinda want car finished tho so it's be conv, dials, cams and remap over next few months then holiday somewhere prob. Lol.

[logic_guy]

Smith, our trade normally gets paid weekly. However, I've been paid monthly in the past and it's a killer.

I find it easier to save weekly as I have a constant cash flow. I can't stand being paid monthly as it all goes in one day on bills etc and you have to really budget.

Pay day is Thursday for me. That means on Friday I can go out and then go out at the weekend with the missus and have money left over to spend/ save. How ever, due to a new job and much better pay, I'm spending my weeks wage in a matter of days :/

[devilsadvocate]

Im perplexed as to which weekly bills people have?

Unless you have a electric and gas key?

[Giraffe]

Im perplexed as to which weekly bills people have?

Unless you have a electric and gas key?

I'm perplexed as to why you're perplexed. Nobody has said they have weekly bills.

[0rang3peel]

I've been on both, I prefer monthly it matches up well with stuff like direct debits/bills etc!

[Bean]

I'm on weekly, great for spending but a bit of a bummer if you forget about any bills

[tylerwright]

i get paid every 2 weeks and hate it, all money seems to be gone by about a week before payday :n:

[Prickle]

i get paid every 2 weeks and hate it, all money seems to be gone by about a week before payday :n:

Stop wasting it on fuckin shit then

*no brainer 'n all*

[Ross]

More to the point, stop dragging up old threads to up your post count...

[Prickle]

I wonder'd how long it would take for someone to click on.

hehehe..

[W103_A5H]

Edit: I just typed all that out to realise it was an old thread. FML! -_-

[DJVTR]

live like a king for a week and a poor man for the other 3 on monthly :y: its the way forward :y:

[Ashleyp]

Weekley pay is cool, when you're like 17. I remember starting driving and getting paid weekly, I used to spank my money

monthly sucks though sometimes, although within like 4 months of working fulltime after 6th form I bought my VTS (£2.4k), new laptop (£600), and some KRK's (£240) plus loads of clothes.

I reckon monthly is the better option for dollar.

god damn I hate student loans haha, now i'm always broke

[Carl-h]

I've had both. Currently get paid weekly and cash and I'm not keen. I have to put it straight in the bank it's too easy to spend sat in my pocket. Monthly and in the bank is what I prefer.

[Mochachino]

Well, coming up to 2 months now, and monthly pay is definitely the way forward. So much easier to save, and also feels a lot better not having to wait a week to save more money or buy something. Managed to save a nice chunk this month, but I might have to cut into the savings by £50 unless I figure out a way to earn an extra £50 or sell something before then. Apart from that im managing fine. One bank account for spending out of, another for savings, and another for saving away chunks of my wages. Easyy!

[Bedford126]

I get paid weekly monthly and quarterly. Proper head fuck but that's what ya gotta do to keep a decent wage and a decent job in the auto trade.

[Baz]

I'm with Mocha....monthly ftw! Bills and fuel etc come out in the first week after payday rest is for spending/saving during the rest of the month

[Davyy]

I have a job which i work 15hoursish a week which gets paid weekly so I spend all them wages on fuel (use almost a full tank per week)to get to my full-time and weekly spending money, then my full-time wage which is monthly doesnt really get touched as im saving for a new car.