Weekly Pay vs Monthly Pay - Saxperience

Mochachino · 14th October 2012, 20:01

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 · 14th October 2012, 20:03

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 · 14th October 2012, 20:07

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 · 14th October 2012, 20:09

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 · 14th October 2012, 20:09

Quote:

Originally Posted by Ryancoyle

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 · 14th October 2012, 20:11

Quote:

Originally Posted by 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

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

Quote:

Originally Posted by 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.

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 · 14th October 2012, 20:11

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 · 14th October 2012, 20:17

Quote:

Originally Posted by Mochachino

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 · 14th October 2012, 20:19

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 · 14th October 2012, 20:19

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

Most places will be flexable in changing dates for payment!

e8_pqck · 14th October 2012, 20:24

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 · 14th October 2012, 20:30

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_ · 14th October 2012, 20:30

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 · 14th October 2012, 20:44

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 · 14th October 2012, 20:54

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^p · 14th October 2012, 21:15

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 · 14th October 2012, 21:33

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 · 14th October 2012, 22:11

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

smiith · 14th October 2012, 22:15

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^p · 14th October 2012, 22:18

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