Timeline for How to manage expenditure when billing cycles and paycheck cycles are not aligned?
Current License: CC BY-SA 4.0
6 events
| when toggle format | what | by | license | comment | |
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| Sep 19, 2019 at 18:31 | comment | added | Monty Harder | …started this, we weren't making much. My wife complained that her paycheck minus the "Allocation" subtraction wasn't very large. I said "You're right. It is small, because "Allocated Expenses" represents how much money we've already spent before we get paid. We just haven't written those checks yet. That small amount is the money we haven't spent yet. [When we wrote a check for an Allocated Expense, we deducted it from that third "sub-account" rather than from our individual one.] | |
| Sep 19, 2019 at 18:30 | comment | added | Monty Harder | Instead of using separate bank accounts, each of which has its own balance that affects service charges, what I did was to treat our joint checking account as if it were three separate accounts ("Hers", "mine", and "Allocated Expenses"). My wife was paid semi-monthly and I bi-weekly, so I multiplied her take-home pay by 24 and mine by 26, then similarly "annualized" our regular bills, calculated what percentage that was of the take-home, and came up with the numbers for each of us to immediately subtract from our "sub-account" balance when we added our paycheck deposits. When we first … | |
| Sep 18, 2019 at 17:32 | comment | added | stannius | You may not be able to "just send two payments manually" to your mortgage. Some mortgage providers will only accept full payments, or will only count payments that are full payments. I do agree, never pay a fee for biweekly. | |
| Sep 17, 2019 at 20:36 | history | edited | yoozer8 | CC BY-SA 4.0 |
Typo fix
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| Sep 17, 2019 at 20:23 | vote | accept | Stephanie Grohol | ||
| Sep 17, 2019 at 20:25 | |||||
| Sep 17, 2019 at 20:14 | history | answered | D Stanley | CC BY-SA 4.0 |