Four Weekly Pay

IceMan_3

I've recently started a new job whereby i get paid every four weeks. As i understand it this means that once a year i get paid twice in one month (July 2009). I've heard people saying that this is effectively a 'free' month, however, i can't seem to get ym head around it. Surely if i get paid at the beginning of July then that wage lasts me for that month. Then, when i get paid at the end of July that wage lasts me August, with August's wage lasting me September and so on. In that case albeit i get 13 wage slips a year it still only lasts the same as it would if i got paid every month.

Like i say, i can't seem to get my head around it, can anyone enlighten me?

jonathon

My wife gets paid 4 weekly,twice in January and i agree we dont seem any better off in January. I find it a lot harder to budget as she gets paid earlier each month.

CG19a

I've been paid 4 weekly for the last 9 years.
The free month idea come from this sort of example.
Rent is always paid on the 15th of the month.
January Pay date 14th - Pay rent from this pay January
February Pay Date 11th - Pay Rent from this pay February
March Pay Date 11th - Pay Rent from this pay March
April Pay Date 8th - Pay Rent from this pay April
May Pay Date 6th - Pay Rent from this pay May
June Pay Date 3rd - Pay Rent from this pay June
July Pay Date 1st - Pay Rent from This pay July
July Pay Date 29th - Pay Rent from this pay August
August Pay Date 26th - Pay Rent from this Pay September
September Pay Date 23rd - Pay Rent from this Pay October
October Pay Date 21st - Pay Rent from this pay November
November Pay Date 18th - Pay Rent from this pay December
December Pay Date 16th - Free Month
January Pay Date 14th - Pay Rent from this month January

I think my example is more complicated now than I intended but its to kind of show that although you wait longer each month to pay your rent, you actually find that one month you get paid, then get paid again before your rent is due, this equals your free month.

opinions4u

IceMan wrote: »

I've recently started a new job whereby i get paid every four weeks. As i understand it this means that once a year i get paid twice in one month (July 2009). I've heard people saying that this is effectively a 'free' month, however, i can't seem to get ym head around it. Surely if i get paid at the beginning of July then that wage lasts me for that month. Then, when i get paid at the end of July that wage lasts me August, with August's wage lasting me September and so on. In that case albeit i get 13 wage slips a year it still only lasts the same as it would if i got paid every month.

Like i say, i can't seem to get my head around it, can anyone enlighten me?

It#s a budgeting thing.

If you set up two bank account, one for wages and one for bills (direct debits that usually go out monthly), and move a full month's bills across to the second account every pay day, you'll do this 13 times a year but only have 12 months of bills going out.

Very handy when you see how much is left over in the bills account in December.

Paul_Herring

There is no 'free month.'

The difference between 4 weekly and monthly is that in the former you get a 13th payslip which is taken by effectively taking a 1/12th of all the other payslips.

Alternatively, from the other point of view being paid monthly, the 13th payslip is divided into 12 and spread across the other payslips.

You're (largely) still getting paid pro-rata for days worked however, whichever method is used.