Tell me if this sounds familiar: It’s the first of the month, your humungo mortgage bill is due, and you just have enough money in your checking account to cover it, since you were last paid… when? Maybe it was 11 days ago? Guess you’re eating pasta for every meal and staying in until that next paycheck comes in.
It’s not just you. According to the Bureau of Labor Statistics, more than a third of U.S. companies (36.5%) pay their employees every two weeks; but that doesn’t mean those biweekly checks sync up nicely with your bill’s due dates. Paycheck drop into your bank account on the 1st and 15th when your mortgage is due on the first and your credit card is due on the 15th? Perfect. But when you’re paid on the 9th and 23rd? Ugh. Because a month is roughly four weeks long (but not exactly, except for three out of four Februarys), you probably, like most people, break down your monthly budgets based on two paychecks and deal with the precariousness that comes with differing due dates. You live like a college student the week after your mortgage is due, and then like a well-off adult when the second paycheck comes in.