Budgeting when paid weekly


#1

I’ve recently picked up a new job, and for some unknown reason they pay me weekly. I’m struggling to get my head around how to manage this money and budget it. The main difficulty is that it’s not the same amount every week/month. I’ve come up with the following options:

  1. Put it in a pot until the end of the month to simulate a payday.
    Pros: Just like being a normal person
    Cons: Very cluttered summary

  2. Have it paid into a spare account and pay myself a wage each month
    Pros: Just like being a normal person, with no clutter in the summary
    Cons: Not paid the same amount weekly, so will need to be done manually. The lover of automated finance in me hates this idea

  3. Suck it up and manage my money weekly
    Pros: I don’t need to worry about the above
    Cons: Effort and difficulty with different income per week

Any ideas, thoughts or advice?


(If there's the wrong end of a stick, you'll find me holding it.) #2

I’d go for option 2, personally.

I’d set up a standing order for the minimum I thought I’d receive per month, then manually transfer any extra.

It’s not ideal for budgeting or automation, but it’s the one which would work for me.


#3

It’s definitely the option in leaning towards. My issue being if I do under my normal hours for some unknown reason one week and it would cause issues.


#4

Another bonus of option two: if you later change jobs to one that pays on a different schedule then you’ve not got to change the way you budget again!