'Does early pay in December help or hurt?' poll discussion

Bridge_Teacher

It shouldn't make any difference to the vast majority of people.

I find it hard to believe that anyone, nowadays (particularly readers of Martin's emails), cannot budget for one-off expenses (e.g. holidays, Xmas etc) and save some money each month during the year.
Being a pensioner now, our budgeting is even more important than when I was working and over the last 5 years, I've proved budgeting's not "rocket science"

For those unfortunate families who, through illness, redundancy or some other cause outside their control, have to spend their Xmas savings as well as their "rainy-day" money before Xmas, they must decide whether a "normal" Xmas is worth the resultant continuous debt/repayment cycle - it might be better to bite the bullet and NOT celebrate Xmas by conspicuous consumption.

mikki-b

Because I get paid on the 6th of every month.
In prevois jobs I would get paid early in December but I can't remember it making a big difference either way, because I always kept a reasonable amount in my current a/c as a buffer anyway.

daveuns

I didn't vote as it makes no difference to me at all. I do get paid early but just move it straight to an instant access savings account and then move it back on the day I am due to get paid.

miamoo

Well I'm rubbish with money I spent all Decembers spare cash on Christmas presents and now I'm skint till the 25th January. I dont owe any money out though so being skint doesn't really matter, Its just depressing.

terri58

people are afraid that they will use up all their money in advance in christmas, then they do not have enough money next month. if employers pay their staffs half of their salary, i think it will really help. :rotfl:

baby_boomer

It sets up a great opportunity for store card sales in December / January .

Did anyone else find it hypoctritical that the Debenhams sale did not allow returns in ther first week (allegedly owing to the stores' busy ness) but then encouraged sale shoppers to take out a Debenhams' card to get extra discounts of 10% on the sale (thus ensuring the queues were endless as people filled in forms).

Shameless .

FATBALLZ

Hurts if you're stupid.

Helps if you're smart.

blueberrie

if they would pay you early in janauary also it would be a good help and with februaty being a short month, we could catch up then!

Debt_Free_Dreamer

astrid35 wrote: »

One place I used to work gave you a choice between
1) all your December pay early
2) all your December pay at the usual time
3) half early and half at the usual time
which I thought was brilliant (and very accommodating)

That is very accomodating. My job is payroll related. That would mean a lot of work for us to do that. :eek:

Debt_Free_Dreamer

bap98189 wrote: »

Rubbish. Modern banking and payroll systems allow the payments to be set up in advance and sent out on a given date. It's done that way every month. you don't think the payroll dept. sit there each payday and input each bank transfer request manually do you?

Spot on... Our payroll was completed earlier than normal and then the file sat on the BACS box ready to be moved on the correct date.

(not sat on literally, but our term for putting the file into the BACS box ready for transfer to the Bank. We will move the payroll completion dates for holidays like Easter, May Bank holidays etc., This will move the payroll completion dates as staff will not be available, but we don't get paid any earlier.

Paying people earlier is not good for cash flow for the business.