3rd paycheck in the month

[Silent1CB]

sure helps when it occurs twice a year, but it always makes me look at the checking balance and think I forgot to pay something.

 

[tvguy]

Unless you are in a salaried job then you get 24 paychecks of the same size a year, no 3rd paycheck, just a check on the 15th and 30th.

 

[FINFAN]

paid 1x per month here...makes those 31 day long months rough toward the end.

 

[kwelch10377]

paid 1x per month here...makes those 31 day long months rough toward the end.

Same here.....when I went from being paid weekly to once a month it was rough. It took awhile to get use to.

 

[TnTsParty]

I get paid every other week so this happens to me every so often but I don't see how it can be considered extra money? When this happens it usually because of how the days fall in the month so if there is a 3rd paycheck in a month it tends to be needed for the 1st of the next months bills.

Is there something I am missing about why its a big deal?

 

[ccgirl]

I miss this. I used to think the same as you. With this new job, I get paid the 15th and the last business day so I always only get two checks a month. Now...put that money away in savings for a rainy day since you didn't expect it.

 

[AristocatFan]

Unless you are in a salaried job then you get 24 paychecks of the same size a year, no 3rd paycheck, just a check on the 15th and 30th.

Yep, same here. DH gets paid on the 15th and 30th. Those dates never seem to come around fast enough!

 

[kwelch10377]

I get paid every other week so this happens to me every so often but I don't see how it can be considered extra money? When this happens it usually because of how the days fall in the month so if there is a 3rd paycheck in a month it tends to be needed for the 1st of the next months bills.

Is there something I am missing about why its a big deal?

If the OP does the bills the way I use to then it is "extra money" so to speak. In a normal 4 week pay period month say I had $1000 coming in each week, I knew my bills would total $3000 for the month, that would leave me $1000 left over in a normal month. The months where there were 5 weeks of pay I would have $5000 coming in, but still only $3000 needing to go out, leaving me with an extra $1000 for that month.

 

[PatsGirl]

I get paid weekly so every three months I get an extra paycheck and an extra cs payment. I understand some might not consider it extra but I budget on four checks/month or 48 weekly checks so the other four are bonuses

This is the money I use for 1) Xmas, 2) Winter Vacation, 3) Summer Vacation, and 4) Usually household expenses like filling the oil tank for the fall, school clothes and other beginning of school expenses.

I pay all my bills on the last Saturday of every month regardless of how many days in the month or how many paydays but I always know when I get that extra $$

 

[BellePrincessBelle]

I get paid every other week so this happens to me every so often but I don't see how it can be considered extra money? When this happens it usually because of how the days fall in the month so if there is a 3rd paycheck in a month it tends to be needed for the 1st of the next months bills.

Is there something I am missing about why its a big deal?

I agree with you. It is not free money.

 

[AshleyW]

I love 3 paycheck months! DF and I are going on vacation in August, so our 3rd paychecks this month are going towards spending money for that.

 

[dejr_8]

I agree with you. It is not free money.

It is not free money but what happens is that since most month you only get two pay checks you have to run your budget based on two pays.

In those two months that you get the extra check it seems like a bonus. Pure illusion.

When I was paid under that schedule we used those extra checks to pay for Disney Trips.

 

[hopemax]

DH, had this when he worked at Boeing. It was great. We always used it for our vacation money. Now, he just gets paid twice a month.

 

[foolishmortal]

im semi monthly now (2 checks a month 15th and 30th), so get more per paycheck, but I do sometimes miss being bi-weekly and having the 2 months of 3 checks.

I always did my bills at 2 checks a month so it was in fact 2 free checks for us too.


I think it would be too complicated to do your bills based off of 26 pay days as opposed to 2 checks a month, so those that say it's not a free check can you please explain how not for your situation?

like I said when i was bi-weekly i always budgeted 2 checks a month and worked around those pay dates.

 

[Lisa loves Pooh]

Unless you are in a salaried job then you get 24 paychecks of the same size a year, no 3rd paycheck, just a check on the 15th and 30th.

Not necessarily. DH has been salaried since 1996. Except for his last employer he had for 2 years...payday has always been every 2 weeks and we get the extra paycheck. It was much easier doing a budget with a set payday each month.

All of his employers do govt contract work. His first company was huge and this company is 300+ employees.

 

[malibuconlee]

Unless you are in a salaried job then you get 24 paychecks of the same size a year, no 3rd paycheck, just a check on the 15th and 30th.

My husband is in a salaried job and gets paid the same amount every two weeks, not twice a month. Love those three paycheck months!

 

[foolishmortal]

Not necessarily. DH has been salaried since 1996. Except for his last employer he had for 2 years...payday has always been every 2 weeks and we get the extra paycheck. It was much easier doing a budget with a set payday each month.

All of his employers do govt contract work. His first company was huge and this company is 300+ employees.

this is true, the company I work for has "salary" employees who are on bi-weekly pay schedule.

but the "norm" is for salary employees to be paid 24 times a year

 

[Robinrs]

I am also salaried and I look forward to that "third" paycheck. Of course it's not FREE money, it's based on your budget and how you pay your BIG bills and your small ones. I like having that one paycheck that doesn't have a NAME on it!!

 

[DisneyFairytale]

I get paid twice a month through work, but I do get a third pay cheque every month(excluding the summer and christmas holidays), where I volunteer. It's technically for gas and car mileage but it still works fine by me. Helps keep up with the sewing expenses

 

[MarkBarbieri]

We used to be paid once a month but switched to being paid twice a week. I much prefer monthly. All of our bills are on a monthly cycle, so it is easier to plan that way.