Getting paid monthly is the worst!

[dighn]

I used to care about that, hated being paid every two weeks instead of weekly. Then I realized this, it's the same fucking amount of money either way. I realized I just sucked at managing my money. Since that realization things have improved! I no longer mind being paid every two weeks, since I never spend all of my money and know my expenses are always covered.

Whether you're paid weekly, every two weeks, every month or whatever... Why should that change how much you spend on your necessities and leisure?

lol this

 

[BurnItDwn]

I've been getting paid monthly for maybe 7 or 8 years, used to be once every 2 weeks. Doesn't really make a difference how often it comes as long as it comes.

 

[Red Squirrel]

It is scary. If he lost his job and couldn't pay his mortgage, he could lose his house. It seems like a pretty big risk to me.

Unlike most people here, I can't afford to buy a house cash, so umm, yeah, that's just the reality of things. It indeed would suck, but I'm still better off than anyone in an apartment, that also would not have enough money to keep paying rent and have to get out if they lost their job. At least I would make profit with the house and just set that aside for a downpayment for another house once I get a job. It would definitely suck, no doubt about it, but life can suck sometimes.

Though with all the spare time I'd have, I could probably manage to find alternative ways to make money and use the credit line meanwhile to make payments. I'd cancel all unneeded services, downgrade internet to the lowest package possible, and greatly reduce my electricity/gas usage to lower those costs.

In a perfect situation, I would love to have like a year worth of emergency money, but I just have not gotten at that point yet.

 

[SandEagle]

why not just pay at the end of each day? no wonder this country is going to hell

 

[Gibson486]

Yeah...it's better than not getting paid at all...

 

[Atomic Playboy]

I get paid bi-weekly now, but there's a lot more paycheck to paycheck living. When I was getting paid monthly, I was making enough that it didn't really matter when the paycheck came; I always had money left over at the end of the month regardless. If I was getting paid monthly at my current wages, I'd be completely boned.

 

[Leros]

Unlike most people here, I can't afford to buy a house cash, so umm, yeah, that's just the reality of things. It indeed would suck, but I'm still better off than anyone in an apartment, that also would not have enough money to keep paying rent and have to get out if they lost their job. At least I would make profit with the house and just set that aside for a downpayment for another house once I get a job. It would definitely suck, no doubt about it, but life can suck sometimes.

Though with all the spare time I'd have, I could probably manage to find alternative ways to make money and use the credit line meanwhile to make payments. I'd cancel all unneeded services, downgrade internet to the lowest package possible, and greatly reduce my electricity/gas usage to lower those costs.

In a perfect situation, I would love to have like a year worth of emergency money, but I just have not gotten at that point yet.

It just seems like you're living beyond your means. I use about 50% of my income on living costs.

With the housing market the way it is, I doubt you could sell your house for a profit. Hopefully, you would lose less money than if you had paid that money towards rent.

 

[Red Squirrel]

It just seems like you're living beyond your means. I use about 50% of my income on living costs.

With the housing market the way it is, I doubt you could sell your house for a profit. Hopefully, you would lose less money than if you had paid that money towards rent.

lol 50%, I wish I had that much extra money. Living costs just add up after a while, even if you live within your means. Mortgage is $400/ biweekly (I've seen some apartments much more expensive than that) hydro, gas are both around 100 per month, taxes are 400 per month, insurance about 170 etc... it adds up. Not much left out of that $1400 biweekly paycheck at the end.

But yeah idealy it would be awesome to have 50% extra cash, but not going to happen at this current job as I'm capped. Been toying with different ideas for second income though, problem is almost everything is a conflict of interest.

 

[Leros]

lol 50%, I wish I had that much extra money. Living costs just add up after a while, even if you live within your means. Mortgage is $400/ biweekly (I've seen some apartments much more expensive than that) hydro, gas are both around 100 per month, taxes are 400 per month, insurance about 170 etc... it adds up. Not much left out of that $1400 biweekly paycheck at the end.

But yeah idealy it would be awesome to have 50% extra cash, but not going to happen at this current job as I'm capped. Been toying with different ideas for second income though, problem is almost everything is a conflict of interest.

$800 mortgage at a $36k salary is too high, in my opinion.

If I was making $36k a year, I would get a nice duplex or something for $800-900/mo and split rent with a roommate.

 

[brianmanahan]

$800 mortgage at a $36k salary is too high, in my opinion.

If I was making $36k a year, I would get a nice duplex or something for $800-900/mo and split rent with a roommate.

might be 36$k after tax and retirement fund deductions

 

[Leros]

might be 36$k after tax and retirement fund deductions

Even then...

 

[Red Squirrel]

I make 60k gross, which is pretty good for someone my age, but yeah after taxes and all the other crap that comes off, the pay is about $1400. At one point when they allowed us to do server patching, I was racking in some nice overtime every couple months, but they put an end to that.

Eventually I do want to buy a duplex or something and rent it out though. My goal in life is to eventually be self sufficient and not have to rely on a job because it will not always be there for me. No such thing as job security. There's some big time cash to be made in real estate here, but you need money to make money, so it's not easy to get started, but once you do, it's like winning the lottery.

 

[darkxshade]

I wouldn't mind if the check includes a generous interest however small it may be for the time already worked but not paid for as I accrue work hours. Basically, the frequency of the pay doesn't bother me as much as the lost time value of money if it were in my hands on a bi-weekly basis.

OR

They could pay me next months pay in advance meaning the check I receive would be for the month I have not worked for yet. Of course if for any reason I lose the job, I'd have to pay it back. Given that idea, I totally wouldn't mind at all if they paid me my year in advance as well... thereby receiving only one check/year.

 

[onlyCOpunk]

I suppose it isn't the fact that the pay comes monthly, it is the fact of having to then budget for 4 weeks. Thus realising that your next 4 weeks are fully planned out with how much you can spend, and realising your actual limitations.

Where as if I were to get paid weekly or fortnighly, if some cost came up I could easily blow a weeks pay and know that it will be replenished quickly. If a cost comes up with a monthly budget that cost then has to come out of somewhere else.

As far as having a job goes, we aren't in a recession and our dollar is strong so having a job isn't an issue there are plenty to be had. But I like mine so I'm not going to move anytime soon.

 

[Lithium381]

The first week is all fun and games until you start paying all your bills and realise you have to budget the remainder out.

That is all

I got paid monthly for over a year, the company just changed to biweekly. Honestly.... it never had an impact on me..... just budget. Regardless of your payment frequency, for the month, In > out and you'll be fine

 

[Tweak155]

I don't get this. I frequently forget when I'm getting paid because I'm responsible enough not to spend more than I make.

Just yesterday I had to sit there and think if I'm going to get paid this week.

If you don't have a general idea of what your monthly expenses are, this is where you fail.

Rent / mortgage, car payment, gas, food, insurance, cell phone, utilities, and taxes if you own a home / property - this is a good place to start. Then you see how much you're wasting on stuff you don't need, because besides these things, you have no requirements. Even then people can get by without a car

 

[Exterous]

How is this any harder than getting paid every two weeks once you are beyond the first pay cycle?

This. I just changed jobs and went from bi-weekly to monthly. There was a slight gap between paychecks but as soon as I got my first monthly check it all evens out.

If anything look at this as an opportunity to improve your budgeting abilities

I budgeted our expenses on 2 paychecks per month. Every 6 months when we have a 3 paycheck month we put that towards something fun.

We did that too and will still do it with my wife's paycheck

 

[GRIFFIN1]

My first job was paid monthly and we were paid a month behind. In other words, if you started working on the first of the month, it would be two months before you got your first check.

 

[tokie]

I get paid monthly. I don't understand why this is an issue?

You pay bills monthly. You pay rent/mortgage monthly. You should get paid monthly.

 

[Ryland]

I have no problems with getting paid monthly (have been for almost 12 years). You get used to timing your bills to come on the 1st of the month.

 

[Cheesetogo]

If you REALLY have a problem getting monthly paychecks instead of every other week, why not take half your paycheck, put it in another account, and wait two weeks to touch it?

 

[Tweak155]

if you really have a problem getting monthly paychecks instead of every other week, why not take half your paycheck, put it in another account, and wait two weeks to touch it?

mind = blown

 

[Kntx]

It's 2011. I want my salary to be continuously deposited to my account.

 

[vshah]

i get semi-monthly, monthly would force me to budget a bit better...