tag:blogger.com,1999:blog-26054493.post3919429255426351345..comments2012-12-29T18:12:36.375-08:00Comments on Easy Change: Budgets with Semi-Monthly PayUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-26054493.post-88105792792342561982007-05-18T13:16:00.000-07:002007-05-18T13:16:00.000-07:00That extra third paycheck is why I think that it i...That extra third paycheck is why I think that it is better. Essentially, on a bi-weekly schedule, you budget to handle your bills monthly (at least I did).<BR/><BR/>So, if you make 1000 per check and have 1400 in bills, you would know that you have an extra 300 per check left over. This means that you can budget yourself more consistently. You know how much driving you will be doing every week - it is generally constant. So is the number of lunches and other expenses. In the end, you have it easier when it comes to budgets. And on months that you get the 3rd paycheck, it is a windfall.<BR/><BR/>When you look at semi-monthly paychecks, it is tougher. You might have really anywhere from 14-16 days between paychecks depending on how the holidays and such fall. As a result, you have more variance in your spending and its harder to make the money last. Furthermore, there is never a "windfall" built in because the number of checks and amount for each check is generally the same (unless you can do overtime). <BR/><BR/>So obviously, the net amount you get is the same each year regardless of how often you're paid, but from a budget standpoint, I find bi-weekly to be better. I hope that explains it.EasyChangehttps://www.blogger.com/profile/06087608302169658541noreply@blogger.comtag:blogger.com,1999:blog-26054493.post-77035246516354871762007-05-17T17:34:00.000-07:002007-05-17T17:34:00.000-07:00I don't understand. How does getting paid every t...I don't understand. How does getting paid every two weeks (at random days of the month) help you out?<BR/><BR/>If my bills are:<BR/>Mortgage - 1st.<BR/>Credit Card - 7th.<BR/>Electricity - 17th.<BR/>Car Loan - 20th.<BR/><BR/>Then I know that the 1st paycheck always pays the Mortgage and the Credit card, The 2nd the Electricity and the Car Loan. <BR/><BR/>Getting paid biweekly means that the paycheck might land on the 3rd instead of the 31st, or on the 10th. And then on some months you get three paychecks (which I guess forces you to save money) <BR/><BR/>Anyway I don't see how semi-monthly is the short end of the stick.Anonymoushttps://www.blogger.com/profile/05038230557947881004noreply@blogger.com