Beware the December pay trap!

EssexHebridean

Well done @peb - it’s nice that other folk now remember to go and fine this one at the right time! 

Approaching November pay day for a lot of people - so if you are normally an end of month payroll person, remember, this is your last pay before Christmas, so the surplus income this month needs to account for any Christmas spending you haven’t yet budgeted for! (And better still, if it’s not budgeted, look at cutting your cloth accordingly!) 

BrotherUuurgh

I really do love the vibe on this whole forum, and really glad that I came back!

How simple to put money into a separate account, and yet the thought never even crossed my mind! I'm into month 2 of my new job and we're paid on the last day of the month, meaning this may be the last one before the day - I'm not sure what the crack is yet regarding early-or-not paydays for Christmas, but either way, I'll be making sure to take the advice of the OP.

My wife and I have been very mindful of the timings and have adjusted our, and our family's, expectations - we won't be participating in secret santa this year. There may be some last minute wiggle room as she managed to get a job recently, meaning she will, at some point soon, have a payday, but we're not letting it distract us. We're also mindful that the December pay, be it before or after Christmas, single or double wage, needs to cover an MOT and a few repairs on the car in early Jan.

I agree though, it is an odd concept. By majority vote, for one time in the year, employers are happy to fast forward pay and make people borrow from their near future. Why can't I do that for my birthday then? Or because England are playing in the World Cup this Saturday etc.. I worked at a company where I did my apprenticeship and they did this. It was horrible for an apprentice! Early money before a festive period, goodness me.. 

EssexHebridean

Ahh BrotherUuurgh thanks for stopping by and posting, and I'm glad you're joining the "Beware the Christmas pay-trap club!"  Great news about your wife's job - I bet that was a relief, and at this time of year, too, definitely makes things easier I'm sure!  Hopefully all will go well there and this time next year you will have been in a position to already have set the money aside for the forthcoming car expenditure, as well - although I'm sure you will still ensure that December pay is ring0-fenced for January expenditure! 

EssexHebridean

What’s the verdict about pay dates this year then - are people finding companies are paying early or not so much? 

BrotherUuurgh

Our payday is the last working day of the month, and I've heard nothing to suggest otherwise - fingers crossed it stays that way really 🙂

zedonk

Not early here. Getting paid on 31 December. 

WheatOne

It will be the 20th this month instead of the 27th, although they never pay on Monday's or Tuesday's anyway so the normal monthly date can be as early as the 23rd.

The reason they pay early isn't to misguidedly "help" the staff, but so that there are a couple of normal working days before people go off for Christmas to resolve payroll queries. Otherwise they would have to fully keep the payroll department fully staffed over the inter Christmas and New Year period

Sarahspangles

Mine will be the 23rd rather than 27th (would normally be 28th), I do also think the motivation is to reduce pressure on payroll before the holiday, though it tends to be presented as if it’s a ‘bonus’.

It makes it five weeks between paydays - and one of those is Xmas week. It means that colleagues who get a main shop once a week have to be extra careful in January

EssexHebridean

I think the aspect of considering the need for time to resolve any payroll queries is definitely a valid reason for pay at a date slightly earlier than normal, particularly for firms without a fully automated payroll system. 

Rob5342

Sarahspangles said:

It makes it five weeks between paydays - and one of those is Xmas week. It means that colleagues who get a main shop once a week have to be extra careful in January

That shouldn't be a problem if they budget correctly, If someone is paid a week early for example then they should have a weeks money from the previous month left over , so they will have 5 weeks of money to last 5 weeks. I know it's not that easy in practice and ill admit that I have previously relied on getting paid early to.cover Christmas presents and left myself short for January. It's a mindset you can get into if you work at it though. I only get paid a few days early with the company I'm with now so its not so much of a problem, but I started buying presents im September this year and when I'm paid there will be nothing I need to buy.