r/Glasgow Tools

Title
Author	ChunkyYetFunky2
Comment	I'm in a similar situation to you, although I don't have discalculia to blame I've just had shit money management. I start a new job next week with a big pay bump so I've been trying to sort it out. What I've done is go to [the salary calculator](https://www.thesalarycalculator.co.uk/salary.php) and worked out what my new take home pay is. Then I went through all my bills and created a spreadsheet with them broken down to my monthly debt payments (credit cards, loans etc.) , my monthly bills (phone, car, Netflix etc.) And bills I split with my partner (mortgage, energy, internet etc). On the debt page I listed minimum payments, total balance and interest rate. I'll use the [snowball method](https://www.ramseysolutions.com/debt/how-the-debt-snowball-method-works) to pay them off fairly quickly, well still 2 years but better than the 15 estimated just paying minimum rates. I created a cover sheet that has the total minimum debt payments, my bills and joint bills plus my salary and then the amount left over each month after them. I'm now going to split that into 4. 1. Expenses like food, nights out, commute. 2. Paying more to my debt to pay it off faster and kick the snowball off a bit. 3. Building emergency savings. For unexpected expenses or Repairs or whatever. 4. Proper longer term savings. I'll probably split this between a savings account and do some basic stocks and shares type investment with some of it too. I use monzo and make use of their salary sorter and pots to manage my money. When I get paid I click a few buttons and it splits my salary into a bills pot, this isn't touched and all my bills are paid out of this, it automatically transfers my share of joint bills to my joint account and once I get my first bigger pay it'll transfer some cash to a savings account and a locked pot for emergency stuff. What's left in the main account balance is my money for food, entertainment etc. As I said I'm no expert but if you want a hand trying to do some of this stuff yourself let me know and I can try.
Reddit Link	https://www.reddit.com/r/glasgow/comments/s6zxpf/need_a_financial_advisor_i_think/ht7c5iv/
Created	Tue 18th Jan 2022 5:48pm
Status	normal ()

I'm in a similar situation to you, although I don't have discalculia to blame I've just had shit money management. I start a new job next week with a big pay bump so I've been trying to sort it out.

What I've done is go to [the salary calculator](https://www.thesalarycalculator.co.uk/salary.php) and worked out what my new take home pay is.

Then I went through all my bills and created a spreadsheet with them broken down to my monthly debt payments (credit cards, loans etc.) , my monthly bills (phone, car, Netflix etc.) And bills I split with my partner (mortgage, energy, internet etc).

On the debt page I listed minimum payments, total balance and interest rate. I'll use the [snowball method](https://www.ramseysolutions.com/debt/how-the-debt-snowball-method-works) to pay them off fairly quickly, well still 2 years but better than the 15 estimated just paying minimum rates.

I created a cover sheet that has the total minimum debt payments, my bills and joint bills plus my salary and then the amount left over each month after them. I'm now going to split that into 4.

1. Expenses like food, nights out, commute.

2. Paying more to my debt to pay it off faster and kick the snowball off a bit.

3. Building emergency savings. For unexpected expenses or Repairs or whatever.

4. Proper longer term savings. I'll probably split this between a savings account and do some basic stocks and shares type investment with some of it too.

I use monzo and make use of their salary sorter and pots to manage my money. When I get paid I click a few buttons and it splits my salary into a bills pot, this isn't touched and all my bills are paid out of this, it automatically transfers my share of joint bills to my joint account and once I get my first bigger pay it'll transfer some cash to a savings account and a locked pot for emergency stuff. What's left in the main account balance is my money for food, entertainment etc.

As I said I'm no expert but if you want a hand trying to do some of this stuff yourself let me know and I can try.