Do You Have A Daily Budget ?

[SparklyKid]

On the first of every month I add to my private pension how many weekly state pensions will we get.

From that total I deduct 1/12 of what my yearly bills will be. Then 1/3 of my expected lecy bill, finally an estimate of my phone/broadband bill.

I then divide the remaining balance by the number of days till next private pension due.

I put that daily budget figure on the calendar , then each day, either add some or substract some.

Gotta do something during these quiet days,lol.

[royfromaus]

Nope.

[SparklyKid]

I must add however that after working all my life and still paying tax I am still not a penny in front.

[Tilly2]

That's a lot of maths!

[brainiac]

Well, I suppose the nights are drawing in now

[SparklyKid]

Works well for me, on the days I am under budget I can buy a bottle of rum.

[aelmpvw]

spreadsheets are the answer, then you've got even more time to while away

[Old_Geezer]

I suppose we all have really, but I've no idea what mine is. I used to keep an eye on the bank balance month to month, and year to year; but this last year has been neglected. Probably partly due to the cov disruption. Must get the spreadsheets up to date when I can find some enthusiasm.

[bednobs]

I usually do that near the end of the month. Sometimes if I know it's going to be a funky month, i'll take off all my bills out of what I have in the BA and roughly divide the rest

[SparklyKid]

I am basically a pen and paper person.

[ToraToraTora]

yeah do it in excel then you can do graphs, pie charts etc!

[woofgang]

nope.

[ToraToraTora]

I don;t understand this bit: "On the first of every month I add to my private pension how many weekly state pensions will we get. "

[SparklyKid]

Forgot to mention I have a jar for weekly contributions towards eight g'kids birthdays etc.

[aelmpvw]

you'll have to cut down on the rum Sparkly . . .

[barry1010]

No. I pay everything by monthly direct debit. I know exactly what is coming in every month and going out.
I have a credit card with an £11000 limit to cover unforeseen emergencies which will give me time to release savings or claim on the insurance.
I use a different credit card for everything else (to get the loyalty points) and pay it off in full every month. I know exactly where my money is going and get no nasty surprises.
If my direct debit leaves a shortfall in my gas and electric bill I pay it off with my credit card.
I couldn't be doing with a daily budget.

[SparklyKid]

Hi TTT. My private pension is paid on the last day of the month.
My wife's state pension is paid monday and mine tuesday.

It depends how many mondays and tuesday are in the calendar month.

[ToraToraTora]

This is what I do, I have 2 current accounts, 1) has all the bills DD's etc and 2) has my salary paid into it. From 2) I have a standing order that pays to 1) the total of all the bills etc. Then after that payment is made I know that anything left I can spend. I only use 2) for day to day spending.

[ToraToraTora]

11:59, ok I see.

[Baldric]

No,why would we?

[SparklyKid]

Hi Barry. Yes I do deduct all the direct debits.

How can you get a shortfall in gas/leccy on direct debits.

If the payments are sufficient surely it would be normal to be in credit in summer and debit in winter, thus balancing out over the year.