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re: Monthly pay vs. Bi-weekly
Posted on 7/16/14 at 1:33 pm to RaginCajun87
Posted on 7/16/14 at 1:33 pm to RaginCajun87
I had a gig that paid monthly a few years back. I fricking hated it, not because it required more careful budgeting or whatnot. That part was easy...
I hated it because the company did monthly payroll because it was a) less costly to administer than weekly or bi-weekly and b) if paying salary out monthly the money is sitting in the company's account gaining interest instead of yours. Dont think for a second that this fact is lost on the people running the company.
This distinction between bi-weekly and monthly may seem trivial but can have very real long term implications on your 401K and savings return.
It may be no bother to you, I'm just neurotic like that...
I hated it because the company did monthly payroll because it was a) less costly to administer than weekly or bi-weekly and b) if paying salary out monthly the money is sitting in the company's account gaining interest instead of yours. Dont think for a second that this fact is lost on the people running the company.
This distinction between bi-weekly and monthly may seem trivial but can have very real long term implications on your 401K and savings return.
It may be no bother to you, I'm just neurotic like that...
This post was edited on 7/16/14 at 1:37 pm
Posted on 7/16/14 at 6:21 pm to wiltznucs
Realistically, don't put yourself in a position where it can even become an issue. Put enough into a checking account or savings account that you are covered regardless.
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