In my new job, I get paid twice a month, on the 15th and the 30th.(*) Thanks to the miracle of direct deposit, though, the money usually hits my bank account quite late the night before, so I can see it if I log in around 11:30 or midnight.
Do I do that? You bet I do, every time, because I love payday. :-)
This time, the 15th is Monday. So I'm hoping that means the cash will actually show up tonight, instead of Sunday night. (Operating on the theory that payroll will go out last thing on the business day before payday. When payday falls on a weekend, we're paid on the Friday before, so I figure the same principle will hold up.)
Money Manifesto wrote a couple of years ago about emotions on payday. (I got to that by googling "excited about payday.") He is doing well enough that he falls in the "indifferent" camp, apparently, which is obviously not me. I would say I'm not in the "relieved" camp either -- I don't have debt collectors chasing me down, and I have enough stability with my current job that I know the money for rent, etc, will in fact show up. I am definitely, however, happy (his third posited emotion.) I'm excited to see my net worth go up, along with my savings accounts; currently, I have the first paycheck of the month earmarked for rent, utilities, groceries, e-fund, and travel fund.(**) So as soon as I can get the money transferred over, I'll see those two savings balances rise, which will be fun. It's just a good day.
On the other hand, apparently mortality goes up on payday, so I suppose I should keep that in mind and not get too excited!
*until Alicia asked about it, I hadn't thought about how I'd been paid just about every way possible over the years, from cash on the same day I worked, to the weekly check I got when I worked in the theater, to what I think of as the typical American bi-weekly schedule at most of my jobs, to the monthly check I got during my year of research funding in grad school and also last year. I think this is my first time being paid twice a month.)
**The second paycheck, which arrives on the 30th, is for debt payment, gas, insurance, and "slush.")
I'm now paid every other Thursday, so there's never going to be a holiday to disrupt that unless it's Christmas break. But when I was paid differently I always loved seeing it come in early. That said, when I was paid monthly, when Christmas came around I always made sure I didn't spend it because it would come about a week early.
ReplyDeleteI cannot wait until a time when pay days don't matter - I just have $3,000 in my chequing account and keep replenishing it. I am not there yet, but it'd be freeing I think.
PS, thanks for linking to me :)
Gah, though I posted a comment but not looking like it went on.
ReplyDeleteAnyways, I also love payday! I have only been on weekly or bi-weekly pay schedules, but I think I would like the bi-monthly, especially for preparing payroll. Granted no 3-check months, just a bit larger year round.
Ugh, blogger sometimes eats comments. Sorry!
DeleteBi-monthly has to be easier on the payroll department. It surprises me that more companies don't do it, really. I have to say I loved being paid weekly; there was a constant infusion of cash, which was fun.