According to Co-operative Bank, we spend at least £80 in the first 24 hours of being paid. Skip to 11 days, and the average person (most definitely me) has spent half their pay packet. No ‘I’ll think about budgeting tonight’ – as soon as your wage hits your bank account this month, budget it. Strip out savings (if you’re saving), and do some bank-account shifting. Mint app is great for tracking this.
How to make your final payday funds last until the new year
We’ve got one more pay day until the end of January, and the thought of that hurts. It will arrive to us this week – in all it’s ‘thank goodness’ glory – begging to be saved and spent efficiently, on things like food supplies, heating bills, transport to distant relatives. What will we spend it on? ‘Reunion drinks’, the Zara sale, and reduced Christmas-themed chocolate. No more. This, my excitable spend-it-all-by-27th-December-and-hate-yourself-til-February friends, is your guide to being savvy and making your pay day funds last.
One thing to note – I’m no Martin Lewis, but I am in my twenties, and boast an insatiable habit for social spending. I’m simply sharing my (researched) wisdom, just in case it helps.
By Rachel Spedding