EDITED: Bi-MONTHLY or monthly paycheck

[cjmtfd102401]

My work has the option of getting paid either bi-weekly or monthly. Is there any difference? Which is better?

Thanks!

EDIT: Thanks for all of the replies but I was wrong. It would be either bi-monthly (15 & 30) or monthly (last day.)

Still think I should go for the bi-monthly?

 

[nonameo]

bi-weekly. Less lag before your first check. Also get into direct deposit quicker. after you start, it doesn't matter as long as you manage your money halfway decently.

 

[RichUK]

It?s NOT bi-weekly, it?s fortnightly!!!

 

[intogamer]

bi-weekly ftw

 

[HammerCurl]

Unless you're bad at budgeting your money, why not go for bi-weekly? Money will go to your 401k slightly faster. 2 weeks accrued interest on whatever you make, + interest on interest for so many years. PWNAGE! Probably insignificant, but I have no idea why you'd want monthly paychecks.

 

[maddogchen]

biweekly FTW!

 

[spidey07]

Semi monthly or monthly. Makes budgeting much easier.

Plus you don't fall for the two "extra" paychecks with bi-weekly and blow all of it somehow thinking it is extra money.

 

[SpunkyJones]

I'm married, so I don't give a crap when they give her my, I mean our money.

 

[DaveJ]

Originally posted by: spidey07
Semi monthly or monthly. Makes budgeting much easier.

Plus you don't fall for the two "extra" paychecks with bi-weekly and blow all of it somehow thinking it is extra money.

QFT. I get paid monthly and it's much easier to manage bills.

 

[Vette73]

Originally posted by: HammerCurl
Unless you're bad at budgeting your money, why not go for bi-weekly? Money will go to your 401k slightly faster. 2 weeks accrued interest on whatever you make, + interest on interest for so many years. PWNAGE! Probably insignificant, but I have no idea why you'd want monthly paychecks.

WINNER


Funny how people get mad if you get a refund check for taxs as "you are giving the gov a free loan..." yet some will say get it monthly. The same applies here, why give your company a free loan. The sooner you get your money the sooner you can invest it, 401k intrest, etc...

 

[Fullmetal Chocobo]

Originally posted by: DaveJ

Originally posted by: spidey07
Semi monthly or monthly. Makes budgeting much easier.

Plus you don't fall for the two "extra" paychecks with bi-weekly and blow all of it somehow thinking it is extra money.

QFT. I get paid monthly and it's much easier to manage bills.

Especially if you have all of your bills due on the first and have all of them automatically paid.

 

[VoteQuimby]

I'm paid monthly and we have no food at month end

 

[aldamon]

Originally posted by: HammerCurl
Unless you're bad at budgeting your money, why not go for bi-weekly? Money will go to your 401k slightly faster. 2 weeks accrued interest on whatever you make, + interest on interest for so many years. PWNAGE! Probably insignificant, but I have no idea why you'd want monthly paychecks.

Yes, any time you can get your money faster you should take it. The same thing happens with my wife who's a teacher. She can either be paid for 10 months or for 12. We take our money up front and budget for the two months she doesn't get paid.

 

[MrDudeMan]

I would hate getting paid biweekly. We save as much as 60% of our income some months and I like making the extra interest on it. It isn't much at a time, but over time it adds up.

 

[Syringer]

There's no reason to get it monthly..

 

[AbAbber2k]

Originally posted by: Syringer
There's no reason to get it monthly..

 

[hanoverphist]

ive never even heard of getting paid monthly... that would be weird to me. i get paid every friday, love it. i can adjust for emergencies much easier, and i can also spread my bill due dates around the month for convenience.

 

[Capt Caveman]

Originally posted by: maddogchen
biweekly FTW!