[ARCHIVED THREAD] - How Do You Get Paid? (Page 1 of 2)
Posted: 9/27/2007 6:31:16 PM EDT
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I recently took a new job, and I also greatly increased my salary doing so. I will be getting paid once a month. How do you get paid, Monthly, Weekly, or Bi-Weekly? |
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I'm hoping that is how it works out for me. Should be good once I get a little debt wiped out in the first two pays. |
| I actually prefered to be paid monthly rather than weekly or bi-weekly. Since almost all my bills are monthly, and I have them due near the beginning of the month, I found it much easier to budget with a monthly paycheck. I currently get paid weekly, and it is a bit harder to budget that way. Of course there are the weekly expenses like groceries, but still it is easier for me to allot myself those weekly expenses, rather than planning ahead for the month. |
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I do not understand the fuss about getting paid just "once a month". If the money is the same, it should not matter if you get a pay check every day, every week, every two weeks, or once a month. I think grade schools need to teach finances far better than they do. (Do they teach it at all?) |
Same here, and the schedule they picked must have been run through a computer to find the exact two dates of each month that fall 90+% on a weekend or holiday, because we almost NEVER get our pay posted on the "alleged" pay date. Because of weekends or holidays it is almost always at least one, sometimes 2-3 days late. Last big example was when the pay date was the Saturday before Labor Day, so the actual pay date ended up being the following Tuesday. It's not a big deal for most of us, but I heard some of the younger people really pissed off about it. |
Ever hear of compound interest? If I have an account where interest is compounded daily, it is much better to get $1000 in it on the 15th and the other $1000 on the 30th than wait until the 30th for $2000. That $1000 has been in half a month earning interest. |
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Depends on who I am working for. Monthly in some cases, vast discounts in others, occassionally maybe something like they off someone who denied me tenure or such. ______________________________________________________ (After 007 has cleared her gambling debts. "Come to my room later; it will be the most expensive night of love you have ever made."--Tracey, (w,stte), Book: OHMSS by Ian Fleming) |
Ever heard of math? No checking account earns enough interest to write home about. You're not earning interest on $1000 for two weeks. It's pretty dang likely that you need to spend some of that before your next pay check. The amounts we're talking about are insignificant. Even assuming that you earned 5% compounded daily, and you didn't touch your first $1000 pay check, you'll earn a whopping $1.92 in 14 days. Wow. Practically speaking, it doesn't matter if you get paid once a day, or once a month. |
Bi-weekly. When I was university faculty, I received it all on the first of the month. After a few months, Momma actually learned to like that. 
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