3 Paycheque Month

[Acura604]

It's been awhile since I've been at a organization that pays every 2 weeks...and not on a 15th/end of month pay cycle.

With the 'every 2 weeks' cycle, there are times that you would get paid
3 times in a given month. so how does that work? technically speaking,
does it really count as some kind of bonus chq or does it all work out at the end of the year?

[stewie]

august is my next 3 pay cheque month

just the way the calendar days are, example:

yesterday was my payday, july 4th

my next will be july 18th.

usually you just get 2 a month, but every now and then you'll get 3 a month.

so august 1'st will be a pay day, 15, and 29th.

so if you can manage all your financial bill payments on a regular given month, then on a month when you get 3 pay days, its like a lil extra Christmas surprise you get an extra XXXX amount to play with.

so, it doesn't make it a bonus cheque, its just like a luck of the draw..."this month you get paid 3 times because your first pay day was at the dead start of the month". just the way the cookie crumbles.

[quasi]

Depends how you pay your bills, I make my loan and mortgage payments weekly so although I end up with a little bit extra money on those months it's not as much as it could be.

[Nechako87]

off topic a bit, but does anyone know how to put this in excel? to calculate how many paychecks are in a month, for the next year?

[RFlush]

Originally Posted by Nechako87

off topic a bit, but does anyone know how to put this in excel? to calculate how many paychecks are in a month, for the next year?

Open a calendar and look for yourself. Is it that hard?

[Nechako87]

if you're making a budget plan for the next, let's say, 4 years...are you going to look for each 2 paycheck month?

this is why...we...have...excel.

[ScizzMoney]

I don't see how the fuck it makes a difference. If you're getting paid bi-weekly, of course twice a year you will have been paid three times in a month. It's not 'bonus' money, it's still money you worked two weeks to get.

[inv4zn]

Originally Posted by ScizzMoney

I don't see how the fuck it makes a difference. If you're getting paid bi-weekly, of course twice a year you will have been paid three times in a month. It's not 'bonus' money, it's still money you worked two weeks to get.

it "fucking" makes a difference (really have no clue why you had to swear there) because the majority of bills and/or expenses occur monthly, and not bi-weekly.

You make $250 a paycheck, which is $500 a month 10 months out of the year. Your insurance costs you $100 a month, rent is $200 a month, and your cell phone is $50 a month, and you have $150 spending money.

All of a sudden, at the end of the month, you've paid off everything for that month, and you have an extra $250. Hence the "bonus".

[bloodline129]

It's 4 times a year u jackasses lol... and yes u did work for it but since your bills are already calculated in (pay twice a month) it's extra cash flow
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[inv4zn]

How is it 4 times a year...

Bi-weekly = 26 paychecks.

12 months = 2 paychecks/month = 24 paychecks.

26 - 24 = 2.

[Special K]

My fiance gets paid bi-monthly (24 times) and I get paid bi-weekly (26 times). I make $9k more but each of her pay cheque is $2-300 more than mine. At the end of the day bills got to be paid. I don't see why people might think it's "extra cash" because it's not.
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[bloodline129]

I get paid 15th and 30th and every 3 months I have a 120 hours payday... Look up your calendar and see for yourself... Think it's march July October n January....
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[RFlush]

Exactly what Special K said!

For those of you who think its a bonus or extra cash, you guys must have really piss poor spending habbits or no money sense.

If you are making $60k a year and get paid bi-weekly, and assuming there are 2 "extra" paycheques, you will make $2,307.69 gross while getting paid bi-monthly gives you $2,500 per paycheque. No matter what, it still equals $60k and all the same.

[SkinnyPupp]

They consider it "extra" because most people budget for 2 paychecks a month. Their bill payments, expenses, and extra spending is based on month-to-month rather than yearly. So in that way, they are being paid $60K a year, but are budgeting for $55K per year ($2300 per paycheck x 2x a month x 12 months). So twice a year they have an 'extra' paycheck that wasn't budgeted for.

[SoNaRWaVe]

personally, i wouldn't consider it extra. you put in the hours, you get paid. you get paid 3 times a month, you worked "an extra 2 weeks" worth.

[quasi]

Originally Posted by RFlush

Exactly what Special K said!

For those of you who think its a bonus or extra cash, you guys must have really piss poor spending habbits or no money sense.

If you are making $60k a year and get paid bi-weekly, and assuming there are 2 "extra" paycheques, you will make $2,307.69 gross while getting paid bi-monthly gives you $2,500 per paycheque. No matter what, it still equals $60k and all the same.

I don't think anyone actually thinks they're getting extra money as in extra salary. Like Skinny said, when you have monthly bills that are generally paid with 2 cheques on months you get that third you'll have more disposable income because those bills are paid with the other two draws making that money you normally put towards those bills disposable.

If you have a $100 cable bill do you pay it once a month or do you pay $46.15 every two weeks? I'm guessing you pay the $100 every month. If you did pay every bill weekly or biweekly then I'd agree the 3rd cheque in a month makes no difference at all.

[RFlush]

Ok well noted and I can see where you guys are coming from. The illusion of having extra pay.

I get paid once a month, makes no difference to me haha

[FerrariEnzo]

you will still work the same amount of hrs in the year, lol...