Does anyone else get paid fortnightly and end up broke by the weekend before pay day?
I just can’t seem to manage my money no matter how hard I try. I try grocery shopping every week, every fortnight, no difference. I meal plan, most of my bills are direct debited but I never seem to be able to have a cent left before pay day.
I have ASD and inattentive ADHD and am raising 3 boys on my own.
I don’t know how I’ll manage to save for Christmas this year. Half of my wage is gone due to covid and I don’t know the heck what I’m doing.
I legit feel like I’m just pretending to be an adult but I’m failing.
Making money last
Making money last
Posted in:
Health & Wellbeing, Aspergers & Autism, Money
4 Replies
I used to, until i got rid of my debt and raised my income. Firstly you need to look at your budget and see if you actually have enough to cover life. If not, theres no point stressing, probbaly best to prepare for that broke week instead and plan for the longer game. Look at your bills, what payments are you making, is your rent too high, car payments, insurances, phones, bills, go through everything and look at changing provider, making cheaper plans or cutting altogether.
This used to be me, a few years ago.
It was challenging at first but basically I followed the basics of the bare foot investor. I adjusted his percentages as I’m on Centrelink (carers pension).
I set up bank accounts for, bills, food, play money, savings. When I got a lump sum payment (it was probably the $600 I get in July), I deposited it in the bills account.
Then I took all the bills for the year divided that into pay cycles and every pay day deposited the fortnightly amount into the bill account.
I also direct deposited a set amount into savings and play money account, food accounts.
I also went through all my expenses with a fine tooth comb and was pretty ruthless. Things like takeaway and lunches were the silent killers of the budget.
I do all the time :(
Has anyone showed you how to really budget? like down to work out what your car costs are annually and divide by you pay cycle? to ensure you put money away for that type of stuff. the harsh reality is covid has many people living ken day to the next. maybe look at how to make food last longer, use i season vegetables and pasta to make healthy but filling meals, cook in bulk, freeze so gives you a night off when you need it. Take away and coffee, school lunches etc are fast money burners.
planning is the key and being tough when the kids are begging for crap. set expectations, takeaway once a month or for birthdays, op shops are great for cloths and cut costs. don't forget you can get discounts on power and gas by ringing and asking for a better price. Are you living somewhere that might be too expensive? could moving be a solution and free up some money. hang in there