In our article, Give Yourself a Bonus When Paid Biweekly, we concluded that the average worker receives approximately two paychecks per month. We also noted that two months throughout the year an individual who gets paid biweekly receives three paychecks in the same month. These months vary depending on when you get paid. For instance, for the year 2017, if your first payday was on January 6th (assuming you get paid on Fridays) then your triple pay months will occur in March and September. On-the-other-hand, if your first payday was on January 13th (again assuming you get paid on Fridays) then your triple pay months will occur in June and December.
So, Why Should You Care?
There is a lot that goes into crafting a successful budget and simply knowing when you get paid is not good enough. The key to preparing a successful budget is to make sure your monthly expenses do not exceed your monthly net pay. For example, if you receive two paychecks per month then you need to keep your monthly expenses within the total net amount of those two paychecks. By knowing the months you receive three paychecks, you will know which times throughout the year you have the most financial flexibility.