I'm having some issues budgeting for the month due to my husband's pay schedule. I am paid monthly on the last working day of each month. He is paid every 4 weeks (this started in January). The majority of our bills, loans, mortgage etc are paid monthly.
I have a list of incomings and outgoings for the month and like to work out at the start of each month how much I can budget for things like kids' activities, savings for holiday etc when everything else is paid out. However his pay schedule is throwing me off! It was ok in January when we were paid around about the same time at the start of the month. I treated his 4 weeks' salary as a monthly one and added it to my monthly pay so I knew we had x amount to last us the month.
However, now we're in late March, he got paid yesterday (the 20th) and I don't get paid until the 29th. We work off a joint account and pay for everything out of it. There is no 'my money/your money', it's all the one pot.
He'll be paid next on the 17th April.
April Pay:
Husband: 20th March to 17th April
Me: 1st April to 30th April
My head is absolutely wrecked trying to work it out.
I just want to be able to say at the start of April 'we have x amount incomings this month and x amount outgoings'. Which leaves us with x amount to have a night out or x amount to pay for an unexpected event like a new car tyre or something. But because our pay schedules are different, I'm struggling to do it. i need to factor his pay from 20th March to 31st March into my pay for April and use that as the monthly figure and then recommence this when he's paid again on the 17th April?
Any help appreciated.
Thanks in advance
I have a list of incomings and outgoings for the month and like to work out at the start of each month how much I can budget for things like kids' activities, savings for holiday etc when everything else is paid out. However his pay schedule is throwing me off! It was ok in January when we were paid around about the same time at the start of the month. I treated his 4 weeks' salary as a monthly one and added it to my monthly pay so I knew we had x amount to last us the month.
However, now we're in late March, he got paid yesterday (the 20th) and I don't get paid until the 29th. We work off a joint account and pay for everything out of it. There is no 'my money/your money', it's all the one pot.
He'll be paid next on the 17th April.
April Pay:
Husband: 20th March to 17th April
Me: 1st April to 30th April
My head is absolutely wrecked trying to work it out.
I just want to be able to say at the start of April 'we have x amount incomings this month and x amount outgoings'. Which leaves us with x amount to have a night out or x amount to pay for an unexpected event like a new car tyre or something. But because our pay schedules are different, I'm struggling to do it. i need to factor his pay from 20th March to 31st March into my pay for April and use that as the monthly figure and then recommence this when he's paid again on the 17th April?
Any help appreciated.
Thanks in advance