Compulsory Move to Monthly Pay

Re: Compulsary Move to Monthly Pay

micmclo said:
Why 53 weeks? Did you mean 52?
Maybe I've missed something obvious but I can't understand it
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Me neither! Surely the obvious thing would be switching from €3K p.m. to €682.31 p.w.? Maybe the extra 12 cent p.a. will come in handy.

If moving from weekly to monthly payment of salary is a problem then perhaps those affected need to start budgeting better? It's the same amount of money either way.
 
Re: Compulsary Move to Monthly Pay

Why 53 weeks? Did you mean 52?
Maybe I've missed something obvious but I can't understand it
Click to expand...

Most people who are paid weekly get paid on a certain day of the week thur or fri so at the end of week 52 (7*52 = 364) there are 1 or 2 days (leap year) left over which carries over to the following year, so every few years there are 53 pay day in the year.
 
I have paid a mortgage and run a car for the last 7 years while earning 20-25K. When I bought my house I was earning good money, but I got made redundant a couple of years ago, and couldn't get a well paying job. I was single at the time, and only got married recently. Took in a lodger to help with the mortgage but I still had to be very careful about bills etc.


I find that other people have never been in this situation so they obviously have no understanding of it. It is easy to manage on 20-25K when people are living off their husbands;)
 
Moved to monthly pay two years ago and find it far more manageable. I found that the trick is not to go to the ATM for a couple of days after payday.
 
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