Comments on: Paying Bills Once a Month

By: LAL

LAL — Wed, 22 Oct 2008 20:30:44 +0000

Honestly? Necessity. I got a job where I was paid once a month, and I had to survive 2 months until I got paid after I had worked a month. So it was not fun.

Then going on the routine of getting paid on the 1st of the next month for the previous month meant I had to learn how to budget money forwards. If you get a job like that, everyone who works there will tell you the bills need to be paid with last month’s check. It’s too hard to survive waiting for the month’s paycheck.

Previously I had lived like you 2x month paystubs. But circumstances forced a change and honestly I liked it and stuck with it.

By: Justine

Justine — Wed, 22 Oct 2008 20:27:23 +0000

That is a really smart idea. I tend to pay all of my bills twice a month (I get paid every other week); to try to get balances down. But what I don’t have is a big enough cushion in case of emergencies. How did you get to the point you are at now to have that cushion?

By: LAL

LAL — Wed, 22 Oct 2008 19:54:37 +0000

I think it definitely takes awhile to get used to. One thing is that when you are paid once a month it immediately becomes an enforced habit. One you cannot break because you are paid once a month.

I like that you did it Ashley without being paid once a month. I did it out of sole necessity.

By: Jim ~ mydebtblog.com

Jim ~ mydebtblog.com — Wed, 22 Oct 2008 19:31:16 +0000

I know the creator of YNAB (You Need A Budget) suggests doing things this way. The idea is to get one whole month in front and use last month’s income for the current month’s expenses. That way all the money is already there and budgeting can become a little more exact. Bills get paid as soon as they come in instead of waiting to be paid by a job. I think we’re probably about half way on this kind of system and eventually the other half will catch up. While it’s nice to have a larger buffer in the checking account, I keep in mind that much of it has been forecast for future expenses already.

By: Ashley @ Wide Open Wallet

Ashley @ Wide Open Wallet — Wed, 22 Oct 2008 15:52:10 +0000

We do this too! I’ve always paid my bills this way. For a long time I worked for a small business and we got paid weekly, my boss used to get so mad because I wouldn’t cash my checks til the end of the month. lol. He would always be after me to cash my checks.