a note with attached pdf document including full-color examples was delivered to our inboxes this week to let us know that the semi-monthly pay plan (the fifteenth and last days of the month) are being switched over to an bi-weekly cycle.
first, thanks for the heads up. second, thanks for making life much harder for all.
as gmoney points out, does anyone have bill that aren’t based on a monthly cycle? answer: no. but now i have to take extra steps to make sure enough is allocated for the etched-in-stone pay dates set up by the rest of the world. those were based on specific days in a month not weekly cycles.
i do not know if this somehow makes their life easier. it might, but since i don’t speak accounting i can’t say. gmoney also points out that it is more costly to have a two-week cycle than it is a semi-monthly. and he’s right: paper cost for all the transactions, bank fees, transaction costs, postage fees. they are all on being done 26 times a year rather than 24. not much of a difference, unless your company is big. then the pennies add up.
i suppose i should just be happy i have a job. and i’ll admit to a certain laziness when it comes to personal finance management. nothing like playing payment timing games to keep you on your toes. we’ll see if i can blog about the positives into next year.