I promise this isn’t click bait.
Every year millions of Americans lose money because they live paycheck to paycheck.
So how do I get this sweet bonus?
Well, it’s quite simple. If you get paid bi-weekly, there are 26 pay periods in one year, and 12 months. Usually, your budget is based on two paychecks per month but twice a year there is a magical month, two actually, that gives you three paychecks.
Many people don’t notice this because of how their income is structure. That is to say, they aren’t on a budget so they miss these “extra” checks and it isn’t spent well.
Getting one month ahead (or budgeting paycheck to paycheck wisely) can garner you two extra checks per year. As a matter of fact, if you plan it well enough, these two extra checks can get you one month ahead.
This can also go towards a different saving goal, paying off debt, budgeting, or extra mortgage principle payments. I’d recommend throwing it down on wherever you are at in the 9 Moves plan as it will accelerate your plan that much quicker!
The reason I say $4,000 is because if you have a net monthly income of $4,000, you’ll get two extra checks per year, which will amount to $4,000. The math on this is simple. Whatever your monthly net income is will be your bonus amount, as you get two extra paychecks per year. Simple, right?
A lot of people miss out on this opportunity because they aren’t watching where their money is going. Now I know what some people will say, “It’s not really a bonus”. And they are right, it’s not. But it is extra money that millions of people do not plan for. That money just gets swept up in the month-to-month cycle of keeping four walls up and food on the table.
But when you jump on a budget, learn about your finances, and start pushing towards goals, things change. You use money differently.
When I do our annual financial plan the months that have three pay periods are highlighted. Those are special months because we will have extra money. It’s a bonus in that you don’t get three pay periods every month.
This is your money, use it wisely.
Don’t know where to start? Take a look at the 9 Moves plan and start with Move #1. It is where everyone needs to start and it will help you find success with your finances.
Ready to earn that bonus? Start budgeting your money and making it work for you. It’s your money, you are in control.
Don’t forget that.