Do You Prefer Getting Paid Weekly Or Monthly?

Does that work like two standing orders or direct debits? It does take a lot of discipline, you're right!

It's actually in my checking account and included in my balance but I keep a spreadsheet of my checking and for lack of a better explanation, I do not include it in my spreadsheet balance until the 15th. On the 15th, I add the second half of the income that I received on the 15th of the month into my balance on the spreadsheet.

Correction to that last sentence it should read ...the second half of the income that I received on the 1st of the month...

I guess you become more disciplined with a monthly budget? I know I used to whereas I'd become a bit frustrated when I got paid weekly..as it never seemed to be enough!

Does it work out the same if you get paid fortnightly? You know, if you split it down the middle would it amount to the same if you were paid weekly? Hope that makes sense.

Basically yeah. The amount I am paid every two weeks is just a total of the amount I earn in that two-week period, so they would just have to divide it in half to pay me every week...

Yeah that's where you're just happy to get paid at all...

This seems to be a popular way of payment (fortnightly) and I didn't even realise people were even paid that way. I don't think it happens here in the UK..it's either weekly or monthly or every 4 weeks without fail. Mind you, I don't have to worry about any of that in my predicament.

I didn't know that it was so popular in the USA either. It is not really done here that I know of and I did not really think anything of it when I was there. The whole system was a bit of a novelty for me at the time. We got a pay cheque (or check as they call it over there) every two weeks on pay day from our supervisors. We would all be there lined up like sheep in the cold trying to get into their office to get it. We then had the choice of putting it into our bank account which most of us Aussies had set up, or we could cash it at the casino. We chose to cash ours at the casino every time as then we got two free drink vouchers with each cheque and we could spin the pay check wheel for the chance to win other goodies. You always won something. Most of the time, you would win drink vouchers, but I won a couple of free meals, a mug and what we Aussies call a bum bag, but the Americans call a fanny pack. Both of these I still have as they were touristy ones so they are a sort of memento of my trip as well as practical.

Is there a reason why fortnightly pay is so popular in the US? I didn't realise this until I started this discussion. Yet again, I have learned something new on this wonderful site that is MyLot! Yes, I agree with you. Budgeting does become more of an issue when paid monthly. Having said all that, John has always been paid weekly but finds that his bills still come out at the same time and he doesn't always have enough per week to cover the bills, if you see what I mean. At least, if he was paid monthly, the bills would come out a couple of days later, then he could concentrate on budgeting for the rest of the month. It's very hard to do whichever way one gets paid as bills are sky high now.

I'm sorry that monthly pay doesn't really work for you. Could your bank not split it up into 4 weekly parts for you or wouldn't that work either? Bills are a menace..they seem to be going up whereas wages seem to be stagnating for people, unfortunately.

They probably would at a cost of course but that is exactly what I am trying to avoid. But as long as I can get credit I am good.

Well, that's true enough. Whilst I was at Mum's last week hubby had to get someone round to fix the washer/dryer. I dearly would love a new, more energy efficient model but it's been fixed so I can't..although John can't afford a new one anyway, even though it was on offer at Comet! I guess he can save up for a new HDTV instead. He gets paid weekly by the way.

Yes, I know what you mean about savings. I could save much better when I got paid monthly because I had a seperate account for that and it just got transferred automatically whenever I got paid. When I got paid weekly I didn't really have enough money to save religiously every week..but I did pay for a couple of holidays when paid weekly so it can be done..it just takes longer!

I want to thank you for responding my comment. Well, want to say have a great day too

I take it you mean the amount? Good for you and you have a great day too!

Yes, I do know what you mean. I tended to have bills coming out a couple of days after receiving my monthly pay, then I could concentrate on making the rest of the money last until next month. I agree though; it was hard at times. Welcome to MyLot!

Well, yes, that's one way of looking at it!

Yes, waiting more than a week can be a pain can't it? I do know what you mean and welcome to MyLot!

Yes, I suppose if you were paid either way but didn't get the money, then you'd start to worry, so I do know what you mean. Welcome to MyLot!

At least you have some money though, which is a good thing.

May I ask why?

It seems to be in the private sector where pay is still on a weekly basis, although my brother has worked for the Public Sector for years and he gets paid weekly too, due to the outdoor nature of his job. Most Council workers get paid monthly. My husband works in the private sector and has got paid weekly for years and years. It does take a bit of juggling with his cash to pay things as they tend to come out all at the same time.

Yes, I see where you are coming from on that and I am glad you prefer monthly pay.

Any particular reason why?

That's sesnsible thinking my friend!

Hello and welcome to MyLot! I must admit, I had more FUN when I was paid weekly, I think it was because it was my first job, I couldn't compare it to anything else, plus the fact I got proper money in my hand. Fancy that! It was only the 80s too, not the 50s or anything!