How do you manage your budget (those with monthly and other payments)
I will at some stage be moving to uc which is monthly, but have pip which is four weekly. I believe uc pays out Monday which gives up numerous Bank Holidays to contend with.
I need to try and work out if I am better trying to work out both as every four weeks or both as monthly.
So far it's always been two/four weeks and that matches up well. I have outgoings that are weekly or monthly.
I have a new account so I can go to the wall at any stage and check the balance. I keep forgetting I can do that at the moment.
If they want to simplify the welfare system, then everything needs to be monthly or four weekly.
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UC doesn't pay out on a Monday.
Your payment date is tied to when you first claim and will be the same date monthly unless it falls on a weekend or a bank holiday, in which case it'll be the Friday before, or the working day prior for a non Monday BH, like Christmas Day, Boxing Day & New Years Day.
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Yeah, I have similar problems, I get ESA every 2 weeks and UC monthly. At best all I can do is underneath my Excel table of default and actual costs, is to have a month ahead as a projected costs underneath it all, just so that I know what my actual buffer after bills really is.
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No UC isn't payed on Mondays once you start receiving it your letter of information will tell u a parsific date of each Monday which falls on different days each month but obviously Mondays cud fall on that certain date
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My situation is further complicated because I also receive wages. However, I have set up all of my bills as monthly payments, which are paid the day after my wages are received. I then budget my PIP and UC for all other expenses and general living costs.
Whether this approach is feasible will depend on the amount of your PIP, but in your case, I would suggest setting your bills to be paid monthly from your UC, with payments going out the day after your UC is due. You can then use your PIP for day-to-day living, budgeting it on a weekly basis.
For example, my bills (such as gas, electricity, council tax, rent, water, phone, TV, and so on) are set to be paid monthly.
I then budget for my day-to-day living expenses, including food, transport, entertainment, and gifting, using a 4-weekly budget, with the maximum amount allocated being my PIP.
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Of each month I mean
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4 weekly payments don't make any sense in the real world. If they do ever change PIP, I would prefer the new version to be paid monthly. At the moment we get slightly less PIP each month, and then effectively a double payment for one month of the year, that isn't helping anyone budget for monthly expenses. Legacy Housing Benefit was just as bad.
With regard to switching from 2 weekly ESA to monthly UC though, I've found it easier to manage because it's synchronised with my monthly rent & bills. I wouldn't want 2 weekly or 4 weekly payments again personally.
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Ah that helps a little bit as I could aim for it to be the same day as the Pip, though it won't be on the same date.
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I find the PIP every 4 weeks payment tricky to manage. I always have DDs etc taken from my account as close to the start of the month as possible so wages can take care of them, but then I can never calculate my PIP properly, as at the start of the year I can get it near payday, then further into the year, it'll be in the middle of the month. My brain doesnt like that one bit.
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I'm terrible at budgeting I don't have direct debits I pay rent by swipe card electric key ect
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Currently I use my PIP to pay rent as my rent is weekly and pip is weekly, though you get it every four.
I think they need to look at the benefit system in regards to how we are paid. If people have DD which are monthly, you need paying monthly so it makes sense.
Don't people use standing orders anymore, why has it become DD for some companies.
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Hi whistles,
I to am paid every 4 weeks so I just workout what it is weekly and work to that.
Hope you get on ok with your changes
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I pay rent via standing order much easier
As your able to manage it yourself for example
If your rent increases or want to stop it at any time your able to via on line banking App
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UC is paid on a different day every month. It is always the same date. (Except for the months when that date falls on a weekend or bank holiday).
I still pay rent by Standing Order. I think Direct Debit means the landlord can change the amount from their end, so that may be easier for people who aren't great at managing their own banking.0 -
That does make sense.
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A direct debit can be changed, but a standing order can't. I don't know why people automatically choose a direct debit allowing companies to help themselves to your money.
My money has always gone into a savings account so I haven't had any choice but to use cash for everything. However I am in the process of changing that since my bank is in the process of changing things.
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I have an arrangement with Durham County Council to pay my bill for the care home where i live. I pay £626 a month and they pay the rest. I used to have a direct debit, but they tried to take out more money than was in my account, which left me in the negative. I'm debt free now, but i now pay manually, using the automated payment line. I have my invoices delivered every mon
it leaves me with 100 odd pound to spend on toiletries and things.
I have the mobility component of PIP, which i am putting in a savings account for white goods and furniture for a supported living flat.
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Standing orders can be changed via your own bank App....Ive done it in the past
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What I meant by can't be changed @Vogue is the receiver of the money can't change the amount, only you can.
I don't have any online banking. Though the council will have it paypal is. Not to me it isn't, you had to have it to do ebay and buy stuff online years back.
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Yes that is Right I have never been interested in DD don't trust them
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