4 weekly pay question

Johnsmith2016

Hi, I keep reading that you get paid twice In 1 month. Which month will this be for 2017? Thanks

[Deleted User]

Depends when your pay day is. Mine was yesterday for example, and in June I should get paid on both the 2nd and the 30th. So just keep counting in 4 week blocks from whenever your pay date is.

Johnsmith2016

I got paid on 2nd Feb so looking at it I get paid twice in march 2nd and 30

But my wage on 2nd pays all my bills for march the wage for 30th pays all bills for April - so I'm being paid circa 8-10% less a month on 4 weekly for a double pay day once a year that I don't feel benefits me at all.

[Deleted User]

John,

It just depends when your bill dates are compared with your pay. At some point you will get the benefit as you are getting paid 13 times a year (52weeks / 4) but only paying your monthly bills 12 times.

MyOnlyPost

Johnsmith2016 wrote: »

I got paid on 2nd Feb so looking at it I get paid twice in march 2nd and 30

But my wage on 2nd pays all my bills for march the wage for 30th pays all bills for April - so I'm being paid circa 8-10% less a month on 4 weekly for a double pay day once a year that I don't feel benefits me at all.

You are being paid your agreed salary in 13 installments. Ignore the frequency and consider the year

Annual salary = x Annual bills = y remainder = z

Whther you are paid weekly, 4 weekly or monthly salary will always = x, so your z figure will be the same

daveyjp

I was on 4 weekly for years and loved it. There's never a five weekend month and its not difficult to budget as long as you ensure on pay day you withdraw the money you will need later on in the month and move it back just before it is needed. At some point in the year there will be an overlap between pay date and payment day and this is your 'bonus' pay.

With internet banking this is now easier than it used to be,

There is one bonus, if you get paid hourly you will get paid for 29 February.

Anthorn

Johnsmith2016 wrote: »

Hi, I keep reading that you get paid twice In 1 month. Which month will this be for 2017? Thanks

The question is beyond my understanding.

Multiply your 4-weekly pay by 13 and then divide by 12. That is your monthly pay which applies to any month. Likely to be used for credit applications demanding monthly pay.

Alternatively, for example if you received two payments in January 2017, the total of the two payments is what you were paid in January 2017 and at the end of January 2017 the total received in 2017. This is the method used by budgeting software such as YNAB.