Monthly or Weekly Pay: Which is Better?

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Poll: Monthly or Weekly Pay: Which is Better?
Weekly (17)
48.57%
Monthly (17)
48.57%
Daily (0)
0%
Quarterly (0)
0%
Yearly (0)
0%
Never (1)
2.86%
quasa
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#1
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#1
Which would you prefer: to be paid weekly or to be paid monthly, if so why?

also does anyone know of any benefits to 1 over the other?
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Tracey1995
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#2
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#2
(Original post by quasa)
Which would you prefer: to be paid weekly or to be paid monthly, if so why?

also does anyone know of any benefits to 1 over the other?
Get paid on same date every month as I have been for long time monthly pay.

Its easier enough to work out all your expenditure for the month to and arrange for all bills to come of just after the pay date .

Most places don't do weekly pay nowadays as it's mostly all monthly pay with either every 4 weeks or a specific date every month. If the date falls on a weekend you paid the Friday before hand.
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username5252878
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#3
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#3
(Original post by Tracey1995)
Get paid on same date every month as I have been for long time monthly pay.

Its easier enough to work out all your expenditure for the month to and arrange for all bills to come of just after the pay date .

Most places don't do weekly pay nowadays as it's mostly all monthly pay with either every 4 weeks or a specific date every month. If the date falls on a weekend you paid the Friday before hand.
I currently get paid weekly. It’s far too much hassle for me right now in terms of how much I get paid as it fluctuates every week.

Technically speaking, monthly pay grounds you in the sense of having patience for the month to end whereas the weekly pay, you spend more as you know you will get paid the next Friday so it’s just waiting a matter of a week.
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londonmyst
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#4
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#4
I prefer weekly pay.
Two of my jobs are on zero hours contracts.
That way I always stay within my weekly cash budget for essentials and my monthly bills are paid towards the end of the month without any hassle.
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quasa
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#5
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#5
(Original post by Thecrazydoughnut)
I currently get paid weekly. It’s far too much hassle for me right now in terms of how much I get paid as it fluctuates every week.

Technically speaking, monthly pay grounds you in the sense of having patience for the month to end whereas the weekly pay, you spend more as you know you will get paid the next Friday so it’s just waiting a matter of a week.
i find the converse for me re: monthly and weekly pay. Ive been paid monthly in the past but was always complacent with finances, running into overdrafts etc, whereas weekly I find keeps me on my toes more and aware of spending habits / more mindful of wasting money.
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Martin Phillips
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#6
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#6
Weekly, because I believe it would be hell to get paid monthly.
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quasa
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#7
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#7
(Original post by londonmyst)
I prefer weekly pay.
Two of my jobs are on zero hours contracts.
That way I always stay within my weekly cash budget for essentials and my monthly bills are paid towards the end of the month without any hassle.
same with me. was flexi contract and locuming (and am now doing zero hours nhs work) and like I said, monthly left mec omplacent / oblivious to what I had in my account as finances vary week to week.
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br1sm1th
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#8
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#8
(Original post by quasa)
Which would you prefer: to be paid weekly or to be paid monthly, if so why?

also does anyone know of any benefits to 1 over the other?
Weekly is better because sometimes you get a 5 week month if you get paid on the last Friday of the month. Also Christmas to the end of Jan is always nearly a 6 week month as you get it early. If you good at budgeting I suppose it doesn't matter.
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username5252878
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#9
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#9
(Original post by quasa)
i find the converse for me re: monthly and weekly pay. Ive been paid monthly in the past but was always complacent with finances, running into overdrafts etc, whereas weekly I find keeps me on my toes more and aware of spending habits / more mindful of wasting money.
I too had the same issues as you, running into constant overdraft when I was getting paid monthly’s from my side jobs. Thankfully, having a decent job with a decent wage every week has sorted out many many issues for me and I’m eternally grateful. 😊
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Tracey1995
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#10
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#10
(Original post by Thecrazydoughnut)
I currently get paid weekly. It’s far too much hassle for me right now in terms of how much I get paid as it fluctuates every week.

Technically speaking, monthly pay grounds you in the sense of having patience for the month to end whereas the weekly pay, you spend more as you know you will get paid the next Friday so it’s just waiting a matter of a week.
Never knew NHS staff still getting paid weekly as I thought that everyone was on monthly pay with them .

I get paid last Thursday of every month with my health board unless they say differently
Plus I am paid every 4 weeks with my part-time job.

I can manage monthly pay without a problem but I know its difficult for some people who can't budget due to it .
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Tracey1995
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#11
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#11
(Original post by br1sm1th)
Weekly is better because sometimes you get a 5 week month if you get paid on the last Friday of the month. Also Christmas to the end of Jan is always nearly a 6 week month as you get it early. If you good at budgeting I suppose it doesn't matter.
That's the problem with people that they paid usually the Thursday before Xmas and forget they don't get paid again untill near end of January.
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username5252878
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#12
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#12
(Original post by Tracey1995)
Never knew NHS staff still getting paid weekly as I thought that everyone was on monthly pay with them .

I get paid last Thursday of every month with my health board unless they say differently
Plus I am paid every 4 weeks with my part-time job.

I can manage monthly pay without a problem but I know its difficult for some people who can't budget due to it .
Ever since I’ve been working for the NHS I’ve never got paid monthly. Only weekly.

I understand where you’re coming from, I fathom it’s like one size don’t fit all scenario. Some like it for its benefit others find it a tedious task to constantly manage their pay monthly.

Each to their own though. 😊
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Tracey1995
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#13
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#13
(Original post by Thecrazydoughnut)
Ever since I’ve been working for the NHS I’ve never got paid monthly. Only weekly.

I understand where you’re coming from, I fathom it’s like one size don’t fit all scenario. Some like it for its benefit others find it a tedious task to constantly manage their pay monthly.

Each to their own though. 😊
Ok I see what you saying about yourself since you started with NHS but unfortunately I had no choice in how I get my pay from them .

Yes we all got our own way on working with our money and if you use to it then obviously no problems with things .
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Black Cat
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#14
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#14
Monthly payments work out better for me personally I am able to maintain my budget more efficiently that way, but there are some downfalls. e.g christmas pay comes in early so you have to budget for 5-6 weeks minimum.
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quasa
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#15
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#15
(Original post by Tracey1995)
Never knew NHS staff still getting paid weekly as I thought that everyone was on monthly pay with them .

I get paid last Thursday of every month with my health board unless they say differently
Plus I am paid every 4 weeks with my part-time job.

I can manage monthly pay without a problem but I know its difficult for some people who can't budget due to it .
Bank staff and locums can get paid weekly. Not sure for Perm staff tbh but when I was in hospital, it was monthly for fulltime and part time staff (might be Trust or ccg specific however but again, it would be something to further investigate as I haven't a clue)
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mnot
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#16
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#16
(Original post by quasa)
Which would you prefer: to be paid weekly or to be paid monthly, if so why?

also does anyone know of any benefits to 1 over the other?
Makes no difference to me. Ive only ever been paid once a month. Just because its pay-day doesn’t mean spend day to me, i try to spend fairly linearly all month.

But for those who feel the need to spend half a paycheque in one go then perhaps weekly.
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username5252878
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#17
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#17
(Original post by quasa)
Bank staff and locums can get paid weekly. Not sure for Perm staff tbh but when I was in hospital, it was monthly for fulltime and part time staff (might be Trust or ccg specific however but again, it would be something to further investigate as I haven't a clue)
Bank and locum gets paid weekly. Agency and perm staff members are monthly. Alongside porters and catering staff at the hospital.
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quasa
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#18
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#18
(Original post by Thecrazydoughnut)
Bank and locum gets paid weekly. Agency and perm staff members are monthly. Alongside porters and catering staff at the hospital.
Prsom
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quasa
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#19
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#19
(Original post by mnot)
Makes no difference to me. Ive only ever been paid once a month. Just because its pay-day doesn’t mean spend day to me, i try to spend fairly linearly all month.

But for those who feel the need to spend half a paycheque in one go then perhaps weekly.
I'm a cheapskate and am ambivalent but am currently in favour of weekly (monthly does have advantages like security / stability if you have regular work)
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Chronoscope
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#20
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#20
I went for weekly pay (was a part time job though which was more ideal). Turned out to be a good thing in the end though as I was owed less money compared to my coworkers (who were paid monthly) when it turned out the manager had to make the company insolvent.
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