Month with three paychecks - one should be in the next month spending plan

Southern Gal

I get paid biweekly Fridays - April 2023 there were three paydays due to the way the month worked on with three Fridays that were paydays

So my May Spending Plan shows one paycheck … bec the 4-28 paycheck is shown in Aprils spending plan.

This is wrong.

I do not want to change the transaction - its a direct deposit.

But the May spending plan is useless without those two paychecks

This is a HUGE flaw = there will be other months that the same thing will happen.

There should be a way to determine the start and end date of the 'Month' to be able to include all spending for the time range you want to set as YOUR MONTH.

DannyB

Hi @Southern Gal

My wife and I both had bi-weekly pay schedules in our last jobs. Because of this there were always a couple of months each year with 3 paydays in them. My Simplifi Spending Plan is based on the typical twice per month pay schedule and the occasional 3rd paychecks were surplus for those months and didn't throw off our Spending Plan in the following month. Our annual budget took into account all 26 paychecks for a given year (our annual net income) but month-to-month spending was covered by two paychecks each.

You will still receive 2 paychecks in May and if your Spending Plan is based on your more typical 2 paydays each month this shouldn't be a problem.

Your pay schedule should look like this for May:

• 4/28 3rd April payday
• 5/12 1st May payday
• 5/26 2nd May payday
• 6/8 1 June payday
• etc.

The only impact your 3rd payday in April on you Spending Plan should be a surplus of money in your "Left at end of month" for April compared to 2 payday months.

One thing to note - Over the years we had built up what many call an "emergency fund" which for us meant we had enough cash-on-hand to cover at least 2 sometimes 4 but usually 3 months of our normal monthly expenses. If someone is living closer to the line (paycheck to paycheck or close to that) this odd payday is needed to cover the next course of upcoming expenses (We've been there) so I can see where this may impact your day-to-day spending.