The Healthy Money Planner:
Multiple paydays can cause a huge headache - I know how it feels to be paid on random days of the month with different amounts and not being certain from one month to the next!!
So for you, I would suggest 1 of two methods:
1. Use your bills page to plan when you need cash flow. Print a copy of your calendar each month and tick off what you pay as you go. E.g. you have 3 bills coming out on 15th of the month - mortgage, car payment and tv subscription
You get paid a random amount of money on 3rd month - set the money aside for these expenses first (assuming this amount is enough to cover your bills) then allocate the remainder on the rest.
Repeat this process throughout the month, keeping tabs on what you have paid off as you go. If you end up with excess at the end of the month, set the money aside for upcoming bills.
This method requires you to be vigilant of when things need to be paid and making sure you are chasing invoices and payments to be made.
2. Open a holding account where ALL you money goes whatever source it is. Pay yourself a monthly salary from this account every month and LEAVE the remainder to fill up your reserves.
This method takes discipline and patience.
“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne Johnson