Something simple thats not available

kerryjack

Looking for some kind of bank account that would turn a months salary into weekly payments not for me but OH who just can't budget we seem to live like kings for 3 weeks and peasants for last week and all her work colleagues seem to be in same boat can't be that difficult surly for bank

Mrs OBumble

Just set up a 2nd account and a standing order to transfer monthly pay divided by 5 into the 2nd account each week. Then live out of the 2nd account.

Maths experts will realise that in some months you won't transfer the whole amount. This is deliberate, it's a painless way to save for a rainy day!

coylemj

No bank will do that. Otherwise what is guaranteed to happen is that you or your OH will show up in the second or third week of the month demanding that they hand over the remaining balance for that month because you need to buy medicine or kids' shoes. Manage your own money.

kerryjack

Mrs OBumble wrote: »

Just set up a 2nd account and a standing order to transfer monthly pay divided by 5 into the 2nd account each week. Then live out of the 2nd account.

Maths experts will realise that in some months you won't transfer the whole amount. This is deliberate, it's a painless way to save for a rainy day!

Yes you could do that but there would be nothing stoping you taking out a sneaky 50 out of 1 account if you think that you need it badly

kerryjack

coylemj wrote: »

No bank will do that. Otherwise what is guaranteed to happen is that you or your OH will show up in the second or third week of the month demanding that they hand over the remaining balance for that month because you need to buy medicine or kids' shoes. Manage your own money.

I would agree with you totally but some people can't manage there money and need a little help if a person sighn up for this they should be a charge to release funds

coylemj

kerryjack wrote: »

I would agree with you totally but some people can't manage there money and need a little help if a person sighn up for this they should be a charge to release funds

I'm thinking that you're finding the convenience of an ATM card too much to resist - maybe consider lodging the money in an institution that's not as convenient for withdrawals as the banks - your local credit union? Might put a brake on weekend spending.

kerryjack

coylemj wrote: »

I'm thinking that you're finding the convenience of an ATM card too much to resist - maybe consider lodging the money in an institution that's not as convenient for withdrawals as the banks - your local credit union? Might put a brake on weekend spending.

Well we do live life to the full we do go out for lunch or dinner and somedays maybe both we belive in the hear and now and never really worry about the rainy day fund but for us the money seems to run out a good few days before pay day

coylemj

kerryjack wrote: »

Well we do live life to the full we do go out for lunch or dinner and somedays maybe both we belive in the hear and now and never really worry about the rainy day fund but for us the money seems to run out a good few days before pay day

Yes I understand that but what exactly are you looking for? Did my last suggestion make any sense - put the money in the credit union or maybe the post office so it's not so easy to get at the cash as shoving an ATM card into the hole in the wall on a Friday night?

Mrs OBumble

kerryjack wrote: »

Well we do live life to the full we do go out for lunch or dinner and somedays maybe both we belive in the hear and now and never really worry about the rainy day fund but for us the money seems to run out a good few days before pay day

Where do you plan to live when you get old and cannot work any more?

kerryjack

Mrs OBumble wrote: »

Where do you plan to live when you get old and cannot work any more?

Our house we are living in now and will be paid for

phormium

When I had a salary (good old days), each month when I got paid I transferred it out into 4 or 5 different savings accounts I had in the same bank. Each was for a different purpose but no reason why you couldn't just call them week 1/2/3 etc, then transfer the balance of the relevant account to the atm ac once a week and start all over again on payday.

Realistically I find most people don't budget properly unless they are short of cash, a bit of a shock income wise can make you look at what and how you spend. Keeping a detailed record of what is spend for a month can tell a lot!

Nervous Wreck

No offense, though I'm sure it will cause some, but your OH needs to grow up and look after her finances like an adult. You want her bank to hold her hand and give her a weekly allowance? Surely it'd be easier for her to just act responsibly. Live in the here (not hear, btw) and now all you want but when you can obviously see very clearly what the problem is, you should also be able to see the rational solution (in this case, curbing your frivolity) and not asking someone else to babysit you.

Agent Smyth

Nervous Wreck wrote: »

No offense, though I'm sure it will cause some, but your OH needs to grow up and look after her finances like an adult. You want her bank to hold her hand and give her a weekly allowance? Surely it'd be easier for her to just act responsibly. Live in the here (not hear, btw) and now all you want but when you can obviously see very clearly what the problem is, you should also be able to see the rational solution (in this case, curbing your frivolity) and not asking someone else to babysit you.

Gotta agree with you on this, one of the best things I learnt many years ago was to live within my means, although I do remember fondly the times when I had to live on baked beans for a couple of days until the pay cheque arrived.

kerryjack

Nervous Wreck wrote: »

No offense, though I'm sure it will cause some, but your OH needs to grow up and look after her finances like an adult. You want her bank to hold her hand and give her a weekly allowance? Surely it'd be easier for her to just act responsibly. Live in the here (not hear, btw) and now all you want but when you can obviously see very clearly what the problem is, you should also be able to see the rational solution (in this case, curbing your frivolity) and not asking someone else to babysit you.

Banking online has become very handy and easy to use I was just thinking that a simle litle facility might be handy where a bank can see whats coming in to your account at start of month take out all your direct debits and devide the rest by 4.33 and have that amount every week of course you can do this yourself but for me there its nice to have a pay day once a week where you can look forward to getting paid I was only using OH as an example she not that bad with money she is just a women O and no offence taken

GerardKeating

kerryjack wrote: »

Yes you could do that but there would be nothing stoping you taking out a sneaky 50 out of 1 account if you think that you need it badly

Not if you do not have access. Give atm card , online access details to partner.

HiGlo

kerryjack wrote: »

she not that bad with money she is just a women

Huh?!??!
I'm not sure if you meant this how it sounds, so I'll let you explain.....


I think the suggestion from Mrs O'Bumble sounds like the best solution for you two. Have your wages paid into one account (maybe set it up without an ATM card attached to it) and then have a second current account with a standing order set up to transfer money in every Friday or whatever..

(I actually might even try do this myself!:D )