Cash Hash » Cash Hash » Cash Advance/ Cash Advances » is it best to get paid weekly or monthly?

  #1 (permalink)
: hey, i just started a new job and my manager is giving me the choice of getting paid monthly or weekly and i can't decide.. i've written up pros and cons for both, but would love to hear some more opinions? thanks in advance :)
(best answer gets full points)

weekly (pros):
- in the long run i would get paid 13 months rather than 12 months (due to some months being 5 weeks long)
- i wouldn't have to stretch my money out as much, could just get out what i need for the week then put the rest in savings

weekly (cons):
- i am more likely to spend my weeks money, knowing that i will have more money in a weeks time
- i won't have it all in one big go, so may not feel as rewarding

monthly (pros):
- it would all come in one day, i would use the money more wisely
- i'm more likely to have more in savings

monthly (cons):
- would have to stretch my money a little more
- i would have to wait 4 weeks for my next pay day
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  #2 (permalink)
: bi weekly because things come up you may need your money that week.
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  #3 (permalink)
: I prefer weekly, even though i have not been/used monthly method.
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  #4 (permalink)
: Weekly of course!!! 52 weekly paychecks per year. If you choose the monthly option, you are giving your employer at least two checks per year. Plus, with weekly paychecks, you will have one free check a month to save or put on a bill in advance of it's due date.
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  #5 (permalink)
: Weekly payment is much better than monthly payment, it is much more beneficial.
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  #6 (permalink)
: the yearly salary will be the same you won't get more or less on either they are not that stupid and it's good to get a wage anyway don't worry about it you juggle your finances to suit either so just pick one
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  #7 (permalink)
: If you have s choice I don't see why any one would actually choose monthly
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  #8 (permalink)
: Your first argument for weekly is wrong. You are paid the same amount whether you chose weekly or monthly
To chose a round figure if you earned 100 per week that would be 5200 per year.
5200 per year would be 5200 divided by 12 = 433.33 per calendar month.
Being paid monthly does not mean that you have to withdraw it all at once. You can still withdraw only the amount you need for that week each week.
I prefer monthly.
As you get older you get more responsibilities such as rent,mortgage,insurance policies. These are all paid monthly, the amount due being taken from your bank account. It is much easier to have your wages going into your account on the same day every month. You set up payments for that same date so you know the money is there to pay those bills. If you are paid weekly you have to keep a track of your balance at all times to make sure there is enough in your account on the day bills are due.
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  #9 (permalink)
: Better buy yourself a calculator, a year only has 12 months whether you get paid weekly or monthly. Each month has 4.333 weeks x 12 months = 52 weeks. So I don't know why you think you will get paid for 13 months instead of 12.

Go for weekly pay because if you get a big chunk of money at the month end, you are more likely to waste it on a huge telly or something like that. Getting smaller chunks weekly will automatically stop you doing that.
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  #10 (permalink)
: It depends on how well you budget. Blow all your money in the first two or three weeks and you are broke for the final week.
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