When is your "time(s) of the month" for payday. This is primarily directed towards employees, contractors feel free to chime in. Are you paid monthly, weekly, bi-weekly, other ?
As I'm presently retired, monthly check system for 2 payors: Company pension 1st of month or 1st business day after the weekend when the 1st falls on a weekend. I get Social Security Pension on 3rd Wednesday of the month based on my birthday. (It's 2nd, 3rd, or 4th Wednesday of the month depending on birthday, it's Christmas Eve if Christmas falls on a Wed.
My last job was bi-weekly, every other Friday, 26 paychecks/yr. Two months a year, I'd get 3 checks (whoopee)
Another company's biweekly system would net 24 paychecks/yr, with paydays falling on 15th and end of month.
I've also experienced the weekly system. As for my preference, I was OK with bi-weekly system.
Your experiences/preferences ?
Comments
last commentI get paid all of the time. My main customers all have staggered pay days! 😉
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I will add the 1st of the month and the 3rd wed into my rotation😉
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Mine is the same as yours.
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Pittance of a pension, last day of the month. SS, 3rd Wednesday (wife, 2nd Wednesday). But we move funds to savings until next month. That way we're living on money in hand from last month.
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Biweekly paid every other Friday for 26 paydays per year. The great thing is about 2 or 3 years ago the company started offering a flexpay system where you can actually draw down up to 85% of your take home pay at any point during a payroll cycle and have it instantly deposited into your bank account. Whatever amount you draw down early is then just subtracted from your next paycheck.
Luckily I am well past the living paycheck to paycheck stage of my life so I haven't had to use it but it is nice to know that it is there just in case. I know a lot of our newer entry level employees have raved about how great it is when they have an unexpected expense or around the holidays.
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Louisiana passed a law that made salaries pay out twice a month instead of biweekly. I decided that I liked that budgeting, so that is how I set myself up with the last two companies I owned. Then, I get a quarterly bonus out of my share of the quarterly profits.
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I work for an old school company. I still get a check mailed to me. There have been times “pre COVID” where I’d be out of town and have 3 checks undeposited checks waiting for me. I’d be home between then but just wouldn’t have time to deposit them.
Thank god I don’t have to live check to check.
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Shailyn, is your check mailed once a month, weekly, or biweekly ? The only time I ever had checks mailed to home was when I was outbased away from company HQ. Otherwise, I picked them up in my company mailbox slot. Nowadays, a lot is DD/ED.
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I’m paid biweekly. I don’t pay attention to the process. I check my balance each month and I’m good.
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I cannot imagine having to regularly deposit a paper check. Direct deposit is the best invention since the blow job.
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I get paid for dumping loads in minnow's basement
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Currently bi-weekly. Have done weekly mostly early on in lower paying jobs. Have also done twice a month and monthly at a few gigs. Like someone else mentioned, I'm past living paycheck to paycheck so I really don't care what it is. I will admit when I went from weekly to monthly there was an adjustment period. I wasn't quite living paycheck to paycheck at the time, but it took a while to adjust to that one. Especially since they paid a full month behind and worked for almost two months without a check.
The only time I look forward to payday is when I get annual bonus that now represents a significant portion of my annual income
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