New Job Starting Soon

[Minibiker]

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

 

[Minibiker]

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

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

 

[Minibiker]

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

 

[Minibiker]

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.

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

 

[Minibiker]

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.

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

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?

 

[Minibiker]

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

That is a good point as you kind of loose control, especially me on a Saturday when football is on

 

[Minibiker]

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