1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

New Job Starting Soon

Discussion in 'Careers, Employment and Professional Development' started by Minibiker, Nov 21, 2019.

  1. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    Hi all

    So last week I lost my job as the workload has spiralled big time leaving some others in there having to take redundancy.. However things are looking up for me, On the 29th of October I was invited to an Interview, I got to the second stage and I'm happy to say I got offered the job :) I am really excited about this as it's something I've never tried before and its a hands on job which is what I love... The role is Asbestos Removal and I will go through some training and have an exam at the end of the training, My start date has now been sent to me, the 9th of December...

    Things have been very down for us as a family lately, my side of the family going through a really tough time and my mother in law is going through cancer treatment, the father in law has complete cataracts and has been told he can't drive which means he can't go to work until the operation has been complete and to top it off I lost my job :( Since getting this news and getting my start date I'm really excited for new times ahead :)

    I have one question though, what's the best way to handle monthly pay? I've spent the last 10 years on weekly pay so need a good saving routine for the monthly pay... Any tips?

    Were looking to save money and get our own place next year as we're currently with her mum and dad and only paying £100 a month bills and then shopping weekly around £80

    Sorry for the long post

    Cheers :)
     
  2. malachi

    Sgarrista

    Joined: Jun 27, 2006

    Posts: 9,605

    Location: Earth

    I use a spreadsheet, find out what monthly pay is. Set a weekly budget and don't spend beyond it.
     
  3. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    That's a good idea, some people have said get a second bank account, work out your monthly outgoing and transfer the remaining into the other bank kind of like a saving fund account
     
  4. malachi

    Sgarrista

    Joined: Jun 27, 2006

    Posts: 9,605

    Location: Earth

    I do that too. So much easier to manage my outgoings.

    I know 100% then my bills are covered as they are in a 2nd account.
     
  5. tom_e

    Man of Honour

    Joined: Dec 26, 2003

    Posts: 26,574

    Location: West mids

    My savings go off into another account the day I get paid by standing order, all my bills go out within the first couple of days of the month and then I know exactly what I've got left for the rest of the month.

    It's not as precise as a full budget with spreadsheets etc but it works well for me and is about as simple as it gets.
     
  6. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    @tom_e @malachi is it best to open up a completely new bank or just add a savings account onto my current bank
     
  7. tom_e

    Man of Honour

    Joined: Dec 26, 2003

    Posts: 26,574

    Location: West mids

    I use Starling so I've just got a savings "space" as they call it which just keeps my savings separate and allows me to round up every time I use my card and dump the change into there as well.

    I also have a H2B ISA which gets a portion dumped in every month as well, I completely ignore the fact that account even exists whereas I do dip into my normal savings for big bits for the car/bike.
     
  8. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    That's a good method to use, do you have any recommendations for company's or banks to use and set up an account?
     
  9. morbid42

    Gangster

    Joined: Mar 24, 2011

    Posts: 296

    Location: Sherwood Forest

    Well done on successful interview. Do you have any advice for others attending interviews? What 3 things went really well?

    For you question, a spreadsheet or budget app on an android tablet. List all your expenses and set this aside. Take the rest out in cash and thats your pocket money.
     
  10. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    I'm not really any good at giving advice but all I'd say to anyone attending an interview is be yourself and don't try over doing it, just list your key skills and think of yourself as a new product to someone and you need to make them buy you :p

    They were really impressed with my work background as I stick to jobs and don't go from one to another in a matter of months..

    Do you think it's better to have cash in your possession more than a savings account?
     
  11. morbid42

    Gangster

    Joined: Mar 24, 2011

    Posts: 296

    Location: Sherwood Forest

    Having the cash lets you physically know what you have to spend. Using cards contactlessly setimes makes you overspend
     
  12. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    That is a good point as you kind of loose control, especially me on a Saturday when football is on :p
     
  13. alexakasloth

    Soldato

    Joined: Aug 13, 2004

    Posts: 7,446

    Location: Sussex

    Multiple accounts is a good way to manage finances, and if you want a savings account don't make it easy access (if you find it too easy to dip into). I have an account for my direct debits, a savings account (card only) and another for regular spend (food, fuel, entertainment).
     
  14. Marvt74

    Capodecina

    Joined: Feb 20, 2004

    Posts: 13,447

    Location: Higher Walton

    Yeah, we have various accounts too.

    What i've also found beneficial (because of a horrendous few weeks of costs), using a credit card for day to day spend means you always have at least a month from buying something to needing to pay for it.

    As long as you're careful and don't just go "woooo credit card", it can help hugely as any big spending gives you an extra month to reduce other spending to pay for it. Just make sure you pay it off to avoid interest.

    Plus there are lots which will pay you 1% in cashback :)
     
  15. Minibiker

    Mobster

    Joined: Mar 27, 2016

    Posts: 4,107

    Location: Swindon

    Thanks guys, I think it will be good for me to open up another account to have along side my current bank account, the plan I have is to work out monthly outgoing and keep that in my Natwest bank then move the rest into the other account... This way I know my bills are paid and I can then budget the rest over the month