Getting paid early at Christmas

DD265

So traditionally I've always been paid before Christmas (usually around the 21st depending on when it falls) but my regular pay day was the 26th. I'm not sure about the situation with my new job; we get paid on the last working day of the month and as long as the money is in my account for the 1st I don't mind.

OH has just been told he's getting paid 27th November, 19th December and 28th January. Luckily he is very good with his money (unlike me!) so he'll be fine, but many people, including myself, would struggle to go so long between pay days.

It got me thinking - is it still necessary to be paid early? Is the system not automated enough that wages could be prepared early but automatically paid on usual day? Do you like being paid early but having that longer gap, or would you prefer the regular cycle?

anamenottaken

Personally, I'd prefer to be paid early in December.

Not because I need the money to spend before Christmas (most bills come in afterwards, I find) but because I'd prefer it in my savings account earning a bit of interest over the Christmas holiday period, thank you.

cazziebo

Wherever I've worked the early payment has been to suit employees, not for the convenience of the company. I suppose in days of yore where a lot of businesses would shut down for the festive period then it might suit to get wages done before everyone went to the pub on Christmas eve.

If the "usual day" happened to be a bank holiday then people might not have access to their cash so would have to wait. I would think getting paid late would be far more problematic than getting paid early.

Spidernick

January is a long enough month as it is, without having to wait extra time for payday. As such, I ignore the fact that I've been paid early until the usual day.

Takeaway_Addict

just move the early pay in December into one account and then move it back into your normal account on the day you would normally be paid.

Simples

TELLIT01

I've been in both situations, being paid early and being paid on or about the normal date. It doesn't bother me either way. For those who see money in their account and therefore go out on a spending spree I can see it being a problem.
Bottom line is that however much you get, and whenever you get it, it has to last until the next pay day.

2gorgeousgirls

We always get paid early at Christmas. I just pretend it's not there until normal payday so it's not a problem.

I do know others at work though who rely on the early payment to buy all their Christmas pressies and food and end up struggling in Jan so mAybe not being paid early would be better.

elsien

I'd prefer to be paid at the usual time rather than have the long gap till the January payday, but I was in a minority at work - most of my colleagues wanted to be paid early so they could party.

James_B.

DD265 wrote: »

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OH has just been told he's getting paid 27th November, 19th December and 28th January. Luckily he is very good with his money (unlike me!) so he'll be fine, but many people, including myself, would struggle to go so long between pay days.

How so? You don't need to start spending the money early just because you receive it early. It'd be different if a payday was delayed, but having one early makes no difference to your cash flow.

unlikelyheroine

In theory when the December payment goes in there should still be a week of November's money left, so it shouldn't really cause a problem. There do seem to be people who spend to the absolute limit any money that lands in their account though so in the knowledge that they are about to be paid early in December, will burn through November's cash, then burn through December's and be broke throughout January.

Being paid early at Christmas is a perk because for those who celebrate Christmas and New Year there tend to be various expenses to pay out before the bank holiday starts, and it is inconvenient for many to be paid in what is likely to be a holiday for many (although not me this year!) It is only really an issue for those who cannot budget or plan their spending for more than a few weeks at a time.

tealady

Have to agree with Elsien and Spidernick on this one.
Most of my Christmas spending has been budgeted for (good old credit union savings) so I just ignore the fact that I have been paid early and budget as usual. I think employers pay early so that they can avoid having to run a payroll programme at a time when there may be few staff in to pick up on any problems. I just accept the fact that Christmas arrives the same time every year (as do birthdays) so I have 12 paydays in which to save a little each month from to pay for the celebrations (other chocolates are available!)