When do you pay your bills, are they spread over the month?

16
Posted 2nd Feb
I am paid last working day of the month, should I pay all my bills in 1 go or spread them over the month. Are there advantages of paying 1st of the month to paying end of the month, etc.,
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I find it easier for the bills to be together as it then gives me a clear picture of what is left. I get paid on the 28th and most of my bills are set to be paid between the 30th and 7th. Rent is on the 12th but everything else is done by then.
My preference is for my bills to all come out in the first few days so I know what’s left and I can budget accordingly. In that I also include my savings for annual bills (insurances, holidays, Christmas, birthdays etc) into appropriate savings accounts. Oh and also pay off my credit card immediately too if I’ve used it that month. That’s just what I do and it seems to work for me.
karenhart02/02/2020 21:40

My preference is for my bills to all come out in the first few days so I …My preference is for my bills to all come out in the first few days so I know what’s left and I can budget accordingly. In that I also include my savings for annual bills (insurances, holidays, Christmas, birthdays etc) into appropriate savings accounts. Oh and also pay off my credit card immediately too if I’ve used it that month. That’s just what I do and it seems to work for me.


Sounds reasonable. What date are you paid and when do you bills start and finish?
Adam_Khan1Tc02/02/2020 21:44

Sounds reasonable. What date are you paid and when do you bills start and … Sounds reasonable. What date are you paid and when do you bills start and finish?


I think last Friday of the month. Pretty much everything is out in the first 3 days. I think prime might come out later in the month but all the biggies, mortgage, council tax, utilities, etc are out in the first few days. I pay most things like car/house/pet insurance, road tax, Tv licence annually as it generally saves a few extra £££.
I’m now interested to see what others do
Completely down to the individual but for me personally, I get paid on the last working day of the month. All of my bills come out on the 1st or 2nd of each month. I tend to wait until the 3rd or 4th to check my balance and I know that by that time what I have left is what I have to spend for the rest of the month.
karenhart02/02/2020 21:51

I think last Friday of the month. Pretty much everything is out in the …I think last Friday of the month. Pretty much everything is out in the first 3 days. I think prime might come out later in the month but all the biggies, mortgage, council tax, utilities, etc are out in the first few days. I pay most things like car/house/pet insurance, road tax, Tv licence annually as it generally saves a few extra £££. I’m now interested to see what others do




Looking to pay what we can annually as well and where possible with a cashback credit card
Bills ?
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i have so many direct debits, i don't even know which dates they fall on. they are throughout the month. if i am given the choice when i sign up to a direct debit as to when the first payment will leave my bank, i always select first of the month. no idea why, just thought it would be the easiest date to select from the list!

i don't really mind when the direct debits are taken out as i check my account daily and top it up if it falls below £600 as a rule i don't keep much money in my current account as it pays no interest so i move money in and out daily.
I have everything set to go out on the 1st of the month. It helps me keep tabs on things.
I have two accounts, one for bills and one for everything else. Money goes into bills account on 1st as that's when tenants pay their rent. Bills come out all through the month
As everyone has said, on or shortly after pay day. I stupidly get paid on the 19th of each month, so I moved all my debits so nothing comes out after the 22nd. The only ones that do come out on the 1st are Council Tax, TV License and Car Tax. Can’t change the date on these for some reason.

Better to get it all out straight away so you know what you have left each month.
It depends on your personal circumstances and if u can be strict with your money. If u have an overdraft you should save the money and pay them just before pay day. That way u pay the bank less in fees. This only works if you can be strict with yourself and make sure you don’t spend any of the allocated money.
Edited by: "Pilsbury12" 3rd Feb
Massive rule of thumb; keep around 3 times your monthly salary in the bank at all times. It doesn't really matter then when the regular bills fall as you should always have enough in the bank to cover all your bills and a little extra for those unforseen things that occur from time to time.
For far more time than I dare to admit I have operated this way and only on once or twice per year transferred any excess to somewhere more lucrative or given treats. I have found it far less stressful to operate this way; life is too short to be worrying about money all of the time. I acknowledge not everyone can do this BUT it is really worth the effort building up those funds to 3 times your monthly wages.
All of my bills except for life insurance are paid by the 3rd,gives me a clear picture of what's left for the month then.
I'm living in the dark ages so still get paid weekly. I have my DD's spread througout the month.
Paid the last day of month...all dd’s for bills are took within the 1st 7 days of month and then I know what budget I have for the rest of the month
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