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Topic: Stretching out budget

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Subject: Stretching out budget
Date Posted: 1/5/2009 2:57 PM ET
Member Since: 10/6/2005
Posts: 10,717
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Any tips on how to stretch your dollars for a whole month when you only get paid once a month? My monthly child support check normally reaches me sometime between the 15th and the 20th, sometimes later (sometimes not at all) and making it last for 4 whole weeks can be really tough.

Date Posted: 1/5/2009 7:38 PM ET
Member Since: 5/10/2005
Posts: 2,357
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Well, the Frugal Gazette person was fond of envelopes.   She did it per month, but it could work to spread over a month too.   Put 1/4th the money (well, 1/4th of what you have budgeted for spending) in each.  Maybe 1/6th if sometimes it has to go longer.  Then spend cash for everything.

Date Posted: 1/6/2009 10:33 AM ET
Member Since: 6/23/2008
Posts: 13,835
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I used to get paid monthly - the last Friday of every month.  I had all of my bills scheduled to be paid on the first of the month (right after I got my check).  We lived off whatever was left after the bills were paid.  To help do this, WRITE OUT a budget.  If you tell your money where to go, it goes a lot further than if you just look back and wonder where it went.

Good luck.