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.

[SparklyKid]

It is just something I started years ago. I pay my car insurance, etc, in full to avoid any instalment charges.

I then anticipate what next year will be and put 1/12 aside in a savings account. Bill arrives, transfer to current account and pay in full.

[barry1010]

Sparklykid, some utility companies get in to a panic if the account falls in to arrears and increase the amount of the direct debit. As my contract ends in September and I change every year I don't have time to build up credit during the summer months. I prefer to pay the balance and keep my direct debit low. Of course at the end of the contract I am in credit and get a refund.

[barry1010]

I pay all my insurances in full with my credit card and get the points. Every little helps.

[SparklyKid]

Cheers folks. Interesting topic. Keep safe.

[tiggerblue10]

I don't but whatever is left at the end of the month after bills, direct debits etc., goes into my house purchase savings account.

[AuntPollyGrey]

Sparkly -what does your wife think of your daily budget? Does she have to go look to see if you have enough daily allowance so she can go buy herself a pair of tights? I bet you drive her mad. :-)

[SparklyKid]

Hi APC. She knows I am daft.

[Zacs-Master]

Mrs Z has phone banking. It alerts her every time our debit cards are used so she often messages me to say 'Had a nice lunch from so-and-so?' No chance of doing anything dodgy have I! Not that I'd want to, of course.

[royfromaus]

Cheers folks. Interesting topic. Keep safe.
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unquestionably the most interesting topic of the month...well done, Sparkly

[lady-janine]

No. I just try to live meanly. Just get from one month to the next by being careful. Big bills, like car service, are always a horrid surprise.

[Vagus]

Nope, don’t have any kind of budget at all.
We spend what we spend on food, if we need some clothing or shoes we just buy them, all bills are paid by direct debit.

[ToraToraTora]

SK you can have your state pension paid monthly, then you won't have to do so much farting about.

[Apc2604]

Nope. Never have had a budget. I know exactly what we have or haven't got available and what we have in savings. During lock down, we have spent far more on food and very little on anything else, so my trips to Amazon are quite frequent to compensate for lack of any entertainment.

[naomi24]

No - but when I needed to a long time ago I did.

[Apc2604]

I didn't realise that you could still get State Pension paid weekly?

[ToraToraTora]

you can if you go to the PO and get it apc

[Tilly2]

Before covid, we had took an amount of money from our account to spend on bits and bobs. Now, we hardly ever use cash and flashing my contactless card around sometimes feels a bit reckless. I'd prefer to have money in my pocket/purse and when it's gone, it's gone.

[Jackdaw33]

You can still get it paid weekly into your bank if you ask. I don't think you can get it paid monthly but I get mine paid 4-weekly.

[Apc2604]

TTT That must be difficult with so many POs closing these days. We now have one in our nearest little town that is the back of a shop and rarely open.

[bhg481]

TTT - State pensions are paid 4-weekly, not monthly, so sometimes you get two payments in a month and the date of the payment is different every month by a day or two.