SVT
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Post by SVT on Feb 15, 2011 13:12:37 GMT -5
A $58,000 check would be nice. It wouldn't be so nice not getting paid for an entire year though.
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Cookies Galore
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I don't need no instructions to know how to rock
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Post by Cookies Galore on Feb 15, 2011 13:13:23 GMT -5
A $58,000 check would be nice. It wouldn't be so nice not getting paid for an entire year though. OMG, I'd spend it all on hookers and blow.
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SVT
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Post by SVT on Feb 15, 2011 13:16:27 GMT -5
A $58,000 check would be nice. It wouldn't be so nice not getting paid for an entire year though. OMG, I'd spend it all on hookers and blow. LOL, and smack 'em 'round with some benjamins!
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SVT
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Post by SVT on Feb 15, 2011 13:17:35 GMT -5
Or maybe not.
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Post by kristi28 on Feb 15, 2011 13:25:33 GMT -5
DH and I both get paid monthly. With DH, it works great, we get the money the last business day of each month, and we can then pay all of the monthly bills for the following month.
For me, it isn't too bad, but it can be confusing. I will teach a single evening class each of the three semesters of this year; there is a flat rate of pay for teaching a class. The spring semester class is considered to represent 5 months, so I get 1/5 pay each month. In summer, the semester is 2 months, so I get 1/2 pay each of two months. August is not considered a working month, so I get nothing. Then, the fall semester is four months, so I get 1/4 pay. It makes doing anything other than saving a nightmare.
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Firebird
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Post by Firebird on Feb 15, 2011 14:20:01 GMT -5
I get paid on the 15th and 30th (NOT bi-weekly, twice a month). If I could CHOOSE, I would dearly love to get paid once a year so I could allocate all funds to their designated spots in one go. Not that any employer would ever do that. Of the ways people actually get paid, once a month is my favorite for ease of budgeting. So you'd have to work an entire year before getting paid! I meant if I could get paid in advance This is why it would never work-- either an employee wouldn't be paid for a year, or an employer would be paying for a year in advance. It would just be nice. You could buy a lot of hookers and blow this way.
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daisylu
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Post by daisylu on Feb 15, 2011 14:25:20 GMT -5
Weekly, which is my preference. I want what I earn when I earn it.
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telephus44
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Post by telephus44 on Feb 15, 2011 14:55:25 GMT -5
My favorite was getting paid once a month. Very easy for budgeting. Right now I'm paid bi-weekly. Best setup for that was when DH was bi-weekly also and we got paid on opposite weeks.
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michelyn8
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Post by michelyn8 on Feb 15, 2011 15:08:44 GMT -5
I've had two jobs that paid monthly and I hated it. It was especially tough with the first one because I was just getting back to work after a period of unemployment, broke and divorced. I had that job over 4 years and I don't think I ever really caught up (even with EIC padded refunds each February/March). After that job I had one for 8 years that paid weekly. The transition from monthly to weekly worked out great because I left the monthly paying job in mid-month and received that final check, my EIC padded refund, plus my first check at the new job all around the same time. For the first time, I was able to have a "real" buffer in my checking account because my bills didn't eat the whole check in the first week of the month.
I now get paid every two weeks. I actually prefer this to weekly (and definately to monthly). I budget better when I'm paid this way because I know that I can cover a large bill with one check and still have money left for "living" expenses and that the next will cover everything else.
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DVM gone riding
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Post by DVM gone riding on Feb 15, 2011 15:34:15 GMT -5
i get paid monthly, its weird and I don't like it but I deal with it.
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mak
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Post by mak on Feb 15, 2011 15:39:49 GMT -5
DH and I are both every other week and on the same week. I guess I don't really care anymore because we don't live pay check to pay check, really as long as we get paid sometime during the month it all works out. We were opposite weeks at his old job and I liked it then. Now i guess the same weeks is fine because then I don't have to look at my spreadsheet as much (although I do anyway!)
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teen persuasion
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Post by teen persuasion on Feb 15, 2011 15:55:54 GMT -5
DH and I both get paid bi-weekly, same week. However, DH only gets 21 paychecks per year; he doesn't get a paycheck during the 10 weeks of summer.
I definitely preferred it when he was paid bi-weekly year round. Now I have to set aside a chunk of every paycheck to cover the summer.
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cronewitch
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Post by cronewitch on Feb 15, 2011 16:28:54 GMT -5
I would prefer once a month but get paid semi monthly. It is easy either way I pay the mortgage from one check and bills as I get them.
I hated weekly even when young it meant saving up to pay the rent. Perfect was when I was paid monthly and husband was paid weekly. His checks were for expenses like rent, food and gas and mine paid off the car in nice chunks.
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TheOtherMe
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Post by TheOtherMe on Feb 15, 2011 18:20:45 GMT -5
I'm on a pension that is due on the 1st of each month. I have a very small part time job which is to pay me on the last day of the month, but never does.
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Sum Dum Gai
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Post by Sum Dum Gai on Feb 15, 2011 18:45:26 GMT -5
I get paid bi-weekly right now and hate it. So does the wife. It was so much easier getting paid bi-monthly. I used to get paid on the 1st and 15th, so we set all the automatic bill pay stuff for the 3rd and 17th, just to build in a little buffer if I got paid late or whatever, and we were good to go. Now we have to save checks for a week or more to cover bills, or pay them all individually every time instead of having them on auto pilot. It's just more obnoxious this way.
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Deleted
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Post by Deleted on Feb 15, 2011 18:46:37 GMT -5
I admire all of you who say you like getting paid monthly.
I just started a bi-monthly job after 7 years of once a month checks. It was nice in the sense that I could pay all of my bills at once and be done with it, but in 7 years, I never mastered the discretionary budget.
It didn't matter if it was $40 or $400, if you give me all of my spending money at the beginning of the month, my fun would have to be front-loaded. End of the month was going to be a video rental and eating in, every time.
It was great for responsibilities, lousy for my social life.
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Deleted
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Post by Deleted on Feb 15, 2011 18:55:05 GMT -5
I get paid once a month. I think it's more convenient since the majority of your bills occur once a month (or mine do). So I just put debits in at the beginning of the month for all my expenses (I have targeted subaccounts that cover everything from vacation spending to "what if the dog needs catastrophic surgery someday?"). What's left is mine to spend for the month.
The best of the both worlds, though, was a second job (retail) that paid weekly. I had just gotten a divorce and earned very little at a private school. All of that (a grand $18,000 in 1998) went to pay those monthly expenses. But I always had gas money, grocery money, etc. thanks to the weekly paycheck.
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Deleted
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Post by Deleted on Feb 15, 2011 18:58:49 GMT -5
Just curious, tweens-teens-and-a-tot . . . does your husband work for a school system? People always think we get paid 12 months a year but only work 9. The truth is that we give the school system an interest free loan for 10 months (summer "vacation" is shorter than people think) and then get our own money back in summer.
Some school systems pay over 9 or 10 months.
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Post by robbase on Feb 15, 2011 19:17:23 GMT -5
monthly--and that is my preference (I could change it to twice a month if I wanted to)
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Regis
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Post by Regis on Feb 15, 2011 20:05:28 GMT -5
Bi-weekly...but I'd prefer daily.
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tcu2003
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Post by tcu2003 on Feb 15, 2011 20:32:35 GMT -5
Every two weeks for both DH and me, and they're on they're matched up, so we get paid the same days. That's the only way I've ever been paid, so I'm fine with it, but then again, I don't know any better.
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motherto2
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Post by motherto2 on Feb 15, 2011 21:02:18 GMT -5
I get paid biweekly (and have for almost 28 years which is my whole career). I've always thought I'd rather get paid 2 x month vs. biweekly, because on those extra paychecks you still have to take some of the money out to pay for bills that are due around the first since it could be into about day 7 of the month on occassions. I'd rather get all of it paid 2 times a month and then put away or pay down bills with what happens to be left over after paying bills/necessities. Oh well, I think I'm mostly just very greatful I get paid
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dcmetrocrab
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Post by dcmetrocrab on Feb 15, 2011 21:10:50 GMT -5
I've had once a month, every two weeks, and twice a month payrolls before. I prefer once a month for ease of budgeting. Getting paid every two weeks made it an easier to lean to a budget that had me living off of only 24 paychecks and saving most of the 2 "extra".
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simser
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Post by simser on Feb 15, 2011 21:34:18 GMT -5
Once a month. I like it- but I always have a month's expenses in my checking account so when the bills get paid isn't that important.
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TD2K
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Post by TD2K on Feb 15, 2011 22:56:57 GMT -5
I get paid every other week and I think every job I've had has paid either twice a month or every other week. I like every other week but it wouldn't be a major factor.
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MN-Investor
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Post by MN-Investor on Feb 16, 2011 0:20:35 GMT -5
For those who want a yearly payment, become an author. I have a sister who is an author. She gets one half the advance when she signs her contract to write the book, and she gets the second half when she finishes the manuscript. Fortunately, she is extremely frugal.
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cronewitch
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Post by cronewitch on Feb 16, 2011 0:48:11 GMT -5
Farmers are paid once a year. I lived in Orchard country and the Orchard owners got one check at harvest. They had to budget to let the money be there for labor and other cost all year and to cover equipment and a potential bad crop the next year.
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Deleted
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Post by Deleted on Feb 16, 2011 1:18:12 GMT -5
Farmers are paid once a year. I lived in Orchard country and the Orchard owners got one check at harvest. They had to budget to let the money be there for labor and other cost all year and to cover equipment and a potential bad crop the next year. That would require some serious budgetting skills from me and I would worry all the time that the money would run out!
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share88
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Post by share88 on Feb 16, 2011 2:37:05 GMT -5
I have only ever been paid every two weeks, but it works fine.
I have no complaints unless it does not show up!
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haapai
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Post by haapai on Feb 16, 2011 7:53:27 GMT -5
I get paid weekly and have mixed feelings about it. On one hand, getting paid weekly is very, very handy when your fixed expenses are high relative to income. The extra paychecks may not even be noticed but things are getting paid on time precisely because of them.
I'm rather glad that I was being paid weekly when I was getting out of debt. Having a big, important update each week helped me focus. I don't know if I would have stayed on track if I had to wait two weeks between meaningful updates.
On the other hand, I believe that being paid weekly detracts from the necessity of planning and saving. It's easy to get complacent about your finances when there's always money coming your way in a couple of days.
FWIW, I work retail and have no illusions as to why I am paid weekly. The nice way of phrasing it is, "If you don't pay much, pay often." The less nice way of phrasing it is, "Pay your employees often and they will steal less."
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