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January 15, 2005

What is it about the mid-month payday?

So many salaried folks get their regular shot of cash on the 15th and last day of the month, a little financial booster shot to make sure you can pay your bills and buy groceries. It's a compromise, because giving you money each day would... well cost your employer more in time and paperwork - although it would make the surprise firing easier to do.  And writing checks only twice a month reduces fifty-two potential weekly paydays down to twenty-four.  Going to 12 monthly paydays a year is reckless, as so many of you are unable to plan out your payments and could potentially blow the whole thing on chicken fights, but daily paydays are potentially worse, as so few of you are actually able to conceptualize budgets and savings.

Still, the two a month paydays are weird, always falling on odd days.  Today for example, does your employer pay you early because the 15th fell on a Saturday, or late because they can make a little more off the interest while payroll sits in the bank? Or are you getting paid at work today...?


Poor sucker.  

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