5 ms·
> I was surprised at how large a difference getting paid every week vs every 2 weeks makes. In what way?
by scribu 5y ago
> I was surprised at how large a difference getting paid every week vs every 2 weeks makes.
In what way?
- briefcomment 5y agoI would think, psychologically, it feels more of a two way relationship, rather than one way (i.e. you working constantly for the company with them only occasionally reciprocating)
- crooked-v 5y agoWhile this isn't much of a company relationship thing: If you're getting paid every 2 weeks, sometimes you'll get paid the first/third week of the month and sometimes the second/fourth, which can be a pain if you're trying to keep a consistent amount in a checking account while also having bill pay and auto-transfers to savings/investment accounts. Or, tl;dr, it makes it easier to automate money without leaving a large buffer of cash in a checking account.
- davidgay 5y agoAnd in other parts of the world, they just pay monthly. Avoids that problem...
- crooked-v 5y agoThat would be good too when it comes to that predictability.
- ErikVandeWater 5y agoOr daily. That's probably the best option.
- sneak 5y agoHow is having an extra 2-4 weeks of income in checking "a large buffer of cash"? This seems like a silly thing.
- chipotle_coyote 5y agoI think what you want in checking -- if your circumstances allow for this kind of money-shuffling, at the least -- is more along the lines of 4 weeks of expenses, not 4 weeks of income, which would (hopefully!) be considerably higher. I'm not sure I'd call it a "large buffer," but even if you're not in the "shove absolutely everything you can into index funds and live like a pauper despite the fact that you're making $250K+ a year so you can retire at 35" camp, the more money you have in higher-return places, the better, so you probably don't want it in the checking account. (And probably don't want a lot in a low-interest savings account.)