How often do you get paid?

[Raduque]

I get paid with direct deposit every other monday. People without dd at my work get paid every other tuesday.

 

[imported_Imp]

Every other Thursday. My whole life evolves around these days, and I get depressed during a no money week.

 

[joecool]

not often enough

 

[secretanchitman]

every 2 weeks on a thursday.

 

[habib89]

every two weeks.. i've had a job that was once a month.. that was horrible, then i went to a job that paid every week.. that was nice

 

[akshatp]

Everytime I sell a dime bag...

j/k

every two weeks...

 

[wheresmybacon]

Originally posted by: paulxcook
Once a month. I hate it.

 

[KoolDrew]

every two weeks

 

[RichUK]

Monthly salary.

 

[gooseman]

Every two weeks.

 

[MotionMan]

Originally posted by: clamum
On the 15th and the last day of the month.

MotionMan

 

[oiprocs]

Usually in the beginning of the quarter when my loan chek comes in.

 

[RossMAN]

Every fortnight.

 

[Zugzwang152]

Every 2 weeks.

 

[Zugzwang152]

Originally posted by: RossMAN
Every fortnight.

zomg you must be rich! :Q

 

[mrizvi66]

at 1201am on Thursdays....

 

[FoBoT]

Originally posted by: clamum
On the 15th and the last day of the month.

:thumbsup:

 

[bucwylde23]

Every 2 weeks.

I"ve only had one job where I got paid on the 1st and 15th and don't really care one way or the other.

 

[alareau]

Originally posted by: dullard
My jobs that I've worked:
1) Rouging/Detasseling corn: paid once at the end of summer for the whole job, so you can call that once every ~2 months.
2) Arby's: paid every other week.
3) Researcher/teaching assistant at university (undergrad and grad student): paid once a month.
4) Current job as engineer (paid once a month).

I perferred Arby's method of payment, every other week. It just was best when something goes wrong. The university was well-known for missing a payment due to bad paperwork. That meant you had to go 2 months without a paycheck. That was just too much for a poor student. Also, it means you have to go 5-6 weeks of work before you get your first check.

But, virtually all bills are monthly. Rent/mortgage is monthly. Utilities are monthly. Credit cards are monthly, etc. There is no reason to need paychecks more frequently. So monthly makes the most sense.

Not always true, my mortgage is on a two week schedule instead of a monthly one. We end up saving about 4 years on our 25 year mortgage

 

[imported_elwood]

15th and last day of the month.

 

[jiggahertz]

Originally posted by: alareau

Originally posted by: dullard
My jobs that I've worked:
1) Rouging/Detasseling corn: paid once at the end of summer for the whole job, so you can call that once every ~2 months.
2) Arby's: paid every other week.
3) Researcher/teaching assistant at university (undergrad and grad student): paid once a month.
4) Current job as engineer (paid once a month).

I perferred Arby's method of payment, every other week. It just was best when something goes wrong. The university was well-known for missing a payment due to bad paperwork. That meant you had to go 2 months without a paycheck. That was just too much for a poor student. Also, it means you have to go 5-6 weeks of work before you get your first check.

But, virtually all bills are monthly. Rent/mortgage is monthly. Utilities are monthly. Credit cards are monthly, etc. There is no reason to need paychecks more frequently. So monthly makes the most sense.

Not always true, my mortgage is on a two week schedule instead of a monthly one. We end up saving about 4 years on our 25 year mortgage

Yeah, it's equivalent to making one extra mortgage payment per year on the normal monthly billing cycle.

 

[dullard]

Originally posted by: alareau
Not always true, my mortgage is on a two week schedule instead of a monthly one. We end up saving about 4 years on our 25 year mortgage

You can get a mortgage on another schedule, of course. But you didn't save 4 years due to the two-week schedule. You saved 4 years because you paid far MORE each year than you would have paid if you paid monthly.

[*]A $200,000 mortgage at 6.5% interest on a 25 year schedule, would be $1264.14 per month (plus tax and insurance). You pay $1264.14*12 = $15,169.68 per year (plus tax and insurance)
[*]The normal 2 week mortgage plan is to take that $1264.14 and divide by 2, meaning you pay $632.07 every two weeks. Or you pay $632.07 * 26.09 = $16,490.81 per year.
[*]Notice how you paid dramatically more per year? Heck, per month you paid dramatically more. There are 2.174 periods in the average month, so you paid $632.07 * 2.174 = $1374.12 per month. Compare that to the person on a standard mortgage who paid $1264.14 per month.

The confusion is that there AREN'T 2 payments per month with that plan. There are 2.174 payments per month. The mortgage brokers hope the people don't notice the slight but important difference.

Congrats though on paying off a house early. I don't want to say you did anything wrong, but you paid it off early for a different reason than you thought.

 

[Fullmetal Chocobo]

After working 4.5 hours today, and using 3.5 hours of state comp time, getting paid monthly isn't all that bad. I haven't worked an eight hour day this week, and I have off this Friday. It's actually quite wonderful.

Time at home > money.

 

[Abe Froman]

Bi-weekly...It isn't too bad...

 

[Scarpozzi]

Originally posted by: paulxcook
Once a month. I hate it.

I'm monthly as well. The first month was the worst. I went 6 weeks without pay because I transitioned from 2 week pay, but ended up getting 6 weeks worth of pay at once.

Anyhow, I've been paid monthly for 5 years now. I like it because I'm able to budget my money. I pay all my bills in the first week and have 3 weeks to make the rest last.