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Two extra paychecks per year for you

September 8th, 2006 · 2 Comments

Note: due to the popularity of this post here are the months in 2008 in which you may get three paychecks. The following months have three Fridays in them.

  • February 2008
  • May 2008
  • August 2008
  • October 2008

If you get paid on Fridays some of the above months will give you three paychecks.

At the end of each month do you find yourself having too much month left and not enough paycheck? A colleague of mine is remarkably disciplined with his personal finances. His employer pays every two weeks for a total of 26 paychecks per year. Now most people would live hand-to-mouth or paycheck-to-paycheck waiting for that check every two weeks. Not him. When he started the job years ago he structure his household budget on two paychecks per month. Using this method gives you two “bonus” paychecks for those months with three paychecks in them. Confused? Look at an example for this year:

(assume this employer pays every other Friday)

Paycheck days in 2006:

January 6 and 20

February 10 and 24

March 10 and 24

April 7 and 21

May 5 and 19

June 2, 16 and 30 (*** three paycheck month)

July 14 and 28

August 11 and 25

September 8 and 22

October 6 and 20

November 3 and 17

December 1, 15 and 29 (*** three paycheck month)

This example had two extra paychecks in 2006 for those whose monthly budget is structured on two paychecks per month. Imagine that? Reading and implementing this just gave you a couple extra paychecks per year.

Cottageblog’s author shares this two-extra-paychecks-per-year philosophy here in step 2 of the post.

Tags: Best of Matt Hutter · Money

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