I get payed bi-weekly & can't Ever Save a Penny HELP Please!

Question

I get payed 871.00 bi-weekly on a Thursday and by the beginning of the day on Monday i am already BROKE. It seems to be that as soon as i get payed i have to pay something off! and then the rest of the money Is blown on NOTHING! I am in debt and never seem to have enough money left over to put towards paying off my debt.

I hate getting payed bi-weekly. But if i want to get payed weekly means i have to go Off the books and loose all my benifits and vacations.

Answer 1

you make a h**l of a lot more than i do.  join the club.

Answer 2

Get Suze Orman's books, 'The Nine Steps to Financial Freedom' and 'The Road to Riches'.  Check out the website and get out of debt and overspending.  Good luck!!

Answer 3

If you lose your benefits you will end up paying a lot more for basic insurance coverage, so don't switch to weekly. For that matter, whether you get paid weekly or biweekly shouldn't matter, as the money is the same, right? So either you get $871 every two weeks, or $435.50 every week?

You need to make a budget. It is a huge pain to do but it is the only way you are going to save money without a significant pay raise. You have to figure out where all of your money is going and where your priorities are. Budget for every aspect of your life, from rent to food to clothes to entertainment to debt. Make sure you are allocating enough to your high interest debt to get that out of the way sooner rather than later - paying interest is the biggest waste of money out there.

Budgeting is key. I heard a great piece of advice not too long ago, if you struggle with living by a budget. When you get your paycheck, cash it and then split it up between a bunch of envelopes. One envelope is for rent, one for food, etc - each envelope is a different category. Let's say you want to go to a movie - the money needs to come from the entertainment envelope. If there's nothing left in your entertainment envelope, then oh well. Taking money from other  envelopes is not an option. I've never done this myself, but the source I heard it from says it is really tough for the first few months, but gets easier over time until budgeting - and paying down debt and saving - becomes second nature.

Budgeting will also tell you if you're living beyond your means, which is what traps so many people into a lifetime of debt. For instance, if your rent is $1,000/month and you make $1,742 total per month, you may need to look at living someplace cheaper as that isn't a realistic way to budget.

Good luck.

Answer 4

Seem like you need a better job that pays more or a 2nd job.

Answer 5

i also get paid bi-weekly around the same amount of dollars. i know how it feels but i have learnt how to turn that pay into something big. it feels as though your living pay check per pay check...what you need to do is get yourself a minimum of 2 credit cards, for your basic needs, "food etc" and get prinicipled to saving at least $100 each check, dont touch it.. it all takes displine and responsibility...play around with your cards but make sure that money on yo acct is generating interest on your account...thats how youill break even, n leave happy...otherwise even if u get a better job yo expenses r going 2 go high...remember once attained, will be maintained...its all in u not the job...