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

voucher_king_2

I'm on aa annual salary and get paid early every Christmas. I'm going to suggest that my employer splits my salary into 13. I can get paid monthly as usual and then when it comes to Christmas I will receive an extra payment. What do you think will be the answer?

Paul_Herring

I'm on aa annual salary and get paid early every Christmas.

I think the answer will be no, if you'd be the only person getting paid 4-weekly, with everyone else getting paid monthly (or (?) annually as you suggest.)

Bargain_Rzl

I think that unless there are other people in your organisation on a 4-weekly payroll, you don't stand a chance...

(oops - cross-posted with Paul Herring!)

tara747

maz_vttl wrote: »

Another point, we normally get paid on the last of the month, and I've been told that because they still paid us before that, they've fulfilled their side of the contract. Can I still pursue something even though we were told we'd be paid on a different day?

I really don't know. It depends how the 'undertaking' to pay on the 18th was set out. Have you brought it up at work yet?

FlowerPower

Another non-voter because the poll is so heavily biased. The results were no big surprise. As someone said before, ask it mid December, the results would be "it helps", ask it mid Jan it's going to be "it hurts".

Ask it in summer with the "it makes no difference" option as well, and it'll be a much more useful (and probably less timely) poll

rjocal

"Almost three quarters (73%) of the 10,700 who responded to our poll, which closed this week, stated early pay in December hurts their ability to budget"

Wrong. Almost three quarters have an inability to budget.

The rational answer is always to receive income as early as possible, and defer spending. So, take the early pay; put Christmas on your credit card; and pocket the interest until you pay off the balance (in full) in January.

Sad to see that the majority of Moneysavers (73% of those polled, plus all the others in this thread who said "it makes no difference") didn't spot the right answer: early pay always helps! (much like spending beyond your means always hurts, regardless of when pay day falls).

jumpycheese1

It makes no difference to me as I get paid 4-weekly. Get December's pay first Friday and the following pay on the first Friday of Jan. This time we got paid on NYE!

Its always the same weeks as well.

Teenie_D

For the first time our early pay hasn't hurt. As soon as our pay went in the bank I transferred it to our other account and it sat there until the 28th December (normal pay day) so we just had to make do with what we had.
In years before it did hurt as we would spend it on nights out etc just a bit more mature now and trying to get debt free asap!!

poppy_f1

im every 4 weeks as well, was due to be paid on 25th got it on the 23rd so no real difference for me

[Deleted User]

I've just started a new job and bizarrely they pay over a month in arrears, so I have to wait until 14th February before I get paid! The last time I was paid was November...