I don’t even live paycheck to paycheck. I live paycheck to four days before paycheck.
For most of my working career, I got paid on the 15th and last day of the month. When Leslie and I bought our condo (25 years ago last week!), it took a while for us to find a pattern of paying bills to fit with our paycheck schedules. Now, at my new job, I get paid every-other Friday. Like clockwork. Friday morning, check my bank balance and there’s money in my account!
If you have ever been on the every-other-week schedule, you realize that once or twice a year, you get three checks. And those checks, to me anyway, are like “free” money. Oh, I know, of course I’ve worked for it and all, but getting an “extra” check helps.
For instance, when I got paid on 8/11, that money paid the bills on 8/15. So the money received on 8/18 18 is “free.” I’ll get paid next on 9/1 and that money will be used to pay the bills on 8/31-9/1. And the rest of the year falls out on a regular schedule. Money in close to the 15th, and then out on the 15th. In at the end of the month, out at the end of the month.
So what to do with my “free” money? Spend it frivolously? Absolutely not. I can’t think of anything I need, except maybe a new curling iron, and I’ll find the twenty bucks for that on a regular day. Put a big chunk toward my credit card? Yessir! And more in savings, so that I can dip into it in October to pay off our January 2018 cruise.
What would you do?