Permanent Ink

I need to find a new bill-paying system. My system does not work. I use the first paycheck of the month to pay all my bills, and the second paycheck to pay my rent for the following month. The problem is that my rent takes up over half my paycheck, so I feel really broke during those two weeks. I don’t have a lot of other expenses so during the other two weeks I feel pretty flush and I go a little crazy with spending. It’s a constant up down up down cycle and I am tired of it. I don’t have a very good idea of how much money I actually have. I don’t make that much but it’s enough to get by and I don’t think I should be feeling broke as soon as I get paid, if I’m smarter about it.

Oh, and then I get paid 26 times a year so everyone once in a while I get a third paycheck a month and I never know what to do with those–except blow them! But they should be part of my regular income. I mean, they ARE part of my regular income.

Here is my new idea: Rent is really the bill that gets me since it is the biggest. So I took my monthly rent, multiplied it by 12 and divided that number by 26. I got $300. Then I set up my account so that $323 is withdrawn from my checking account and put into my savings account every two weeks, the day after payday. That gives me enough for rent, plus about $50 extra a month. Then I set it up so $650 is transferred back into my account on the 5th, when rent is due. Then I will attempt to pay all my other bills as they come in. I hope this system works a little better and helps to even out the amount of money I have to spend during the month. I’m also considering having all my bill money transferred to my savings account and then setting up automatic electronic bill paying from that account. For some reason I don’t like electronic bill paying though.

I am pretty pleased with my fiances overall though. My only regular bills are rent, electricity, cell phone, student loan, gym and the occasional credit card bill (I’ve paid it off but there’s sometimes a misc. charge, like when I tried to buy my mom flowers online and they wouldn’t take my debit card). I don’t have a car so I don’t have a car payment or insurance or gas. I walk to work so I don’t buy a bus pass either. I don’t have cable and I don’t pay for internet access. My life is pretty simple.

Like I said, I probably shouldn’t feel as poor as I do, and I’m hoping this new system will help somewhat. I also probably should spend so much money on eating out and drinking, but what are you going to do?