Three paychecks in a month is not extra money
My company pays us bi-weekly. That means 26 paychecks a year, every other Friday.
Last week a man at work said,’Woo-hoo! March has three paychecks!’
I was rather baffled by this statement and his apparent joy. He doesn’t seem to realize that he still worked 80 hours over two weeks to get that money. It’s not a bonus. It’s his regular salary. I don’t know about him, but I contracted my employment at a certain rate and I’m entitled to that check.
I know there’s a lot of budgeters out there who use 2 bi-weekly paychecks to plan their monthly budget. That’s fine and well. I think they should, since there are only 2 months a year with three paychecks in them. However, this joy expressed by my co-worker is unwarranted since it is part of his base salary. Dude, that money is yours, not extra. It ain’t gravy. It’s not a bonus.
I think this goes back to the ways we have to trick ourselves into saving money. That third paycheck when it arrives for me in March isn’t going into my savings. It’s going towards my April expenses, and then when my last paycheck in April arrives, I will put it all into savings because my second April check will start covering my May expenses.
suz wrote:
You’ve clarified why it can be exciting. For those who plan their budget based on 2 paychecks a month, the months with 3 are a bonus. Yes, it is certainly the money you’re entitled to and that you earned, but it is money with no strings/obligations attached (depending on your budget). It is a “windfall” of money and something to get excited about. We’ve already accepted that we’re going to work (week-to-week) just like we’ve accepted our 2 paychecks (month-to-month). So, that 3rd paycheck is a “bonus” when our monthly routine/budget isn’t accustomed to it.
Posted on 08-Feb-06 at 10:35 am | Permalink
mapgirl wrote:
I’m just pointing out it’s a fake windfall, and it’s part of the game we play to fool ourselves.
I don’t look at it as a bonus. I *earned* that money.
Posted on 08-Feb-06 at 4:34 pm | Permalink