Getting paid once a month

Discussion in 'Teacher Time Out' started by Pisces_Fish, Jan 10, 2009.

  1. Pisces_Fish

    Pisces_Fish Fanatic

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    Obviously, from the title of this post I'm paid monthly. I Hate it with a capital H. It's so hard sometimes! I used to be paid weekly, and it was great because I set aside a specific amount per week for rent, and set it aside in a second bank account I had. Come rent time I wrote a check and didn't have to worry. I paid bills as they came in and was never stretched too badly. Now I pay my bills on payday and cringe to see what's left some months. Maybe some will think I'm exaggerating, but I think it should be against the law to get paid every 30 days, especially those like me that make under 30K! (actually, in RI it was illegal for hourly employees to be paid any less than weekly.)

    Who feels my pain?
     
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  3. TamiJ

    TamiJ Virtuoso

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    I definitely feel your pain. I was just paid on the last day of December, and now I only have $600 left in my account. Where did it go? Well, to bills. Ouch!
     
  4. terptoteacher

    terptoteacher Connoisseur

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    I would be feeling your pain if my dh wasn't paid twice a month. We use my paycheck to cover the house expenses since it's at the end of the month and his covers everything else.
     
  5. Aliceacc

    Aliceacc Multitudinous

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    My first 7 years teachiing I was paid once a month.

    Prior to that, in college, I was a waitress, so I was paid 4 nights a month.

    That was a HARD adjustment!!!
     
  6. Pisces_Fish

    Pisces_Fish Fanatic

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    Alice, did you learn any "tricks" to help with being paid so infrequently?
     
  7. Aliceacc

    Aliceacc Multitudinous

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    Yep.

    Live at home with mom and dad :)

    Then, when you meet "the one" switch to a better paying job and get paid twice a month.

    (And, for the record, when I started teaching in 1980, I was making $9,700 a year. It's not like that was going to stretch too far no matter how you're paid.)

    Sorry I don't have anything more concrete!!!
     
  8. Superteacher81

    Superteacher81 Comrade

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    I'm also in NC so I feel your pain! It's hard to be single and paid once a month! In FL I was paid twice a month and it was so nice! Now I'm back in NC and trying to adjust again. It's really tough!
     
  9. TeacherSandra

    TeacherSandra Enthusiast

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    YUCK; getting paid once a month STINKS!!!

    We're back to twice a month; thank goodness!
     
  10. peggy27

    peggy27 Cohort

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    I get paid once a month. And this month is horrible. We got paid on December 19 our last day of school and don't get paid until Jan.31.
     
  11. Pisces_Fish

    Pisces_Fish Fanatic

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    Me too!! :(
     
  12. dr.gator

    dr.gator Comrade

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    Jan 10, 2009

    My first full year of teaching, I was paid once a month and since it was my first year, I had no choice but to take the 10 month option on how many checks I got. So that meant that not only did I get paid once a month, but I had to set back some to cover the summer months when I wouldn't be getting paid. Talk about a hard time! Like Alice said...I lived with my parents. Haven't met that perfect one yet, but I do get paid twice a month now and have the 24 check option.

    Once a month does stink. You live real well for two weeks and then eat a lot of PBJ's the rest of the month. No real advice other than I agree it is hard!
     
  13. TamiJ

    TamiJ Virtuoso

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    I am married so that helps, but just waiting for some of hubby's clients to pay up. In any case, I would just say set money aside. I put money away into savings every paycheck. So even when my checking is low, I know I actually have some in savings from that paycheck.
     
  14. giraffe326

    giraffe326 Virtuoso

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    Last year, I was warned about this mid-December to the end of January stretch. It stinks!

    I also hate the 10 pay checks per year. I know they offered 12 this year, but I was so broke at the end of August, I could not afford my check to be cut $500 to even it out. So, I am hoarding money for the summer and will hopefully switch next year.

    I used to get paid weekly as well. All 8.5 years I worked prior to teaching. The first month was hard, but I adjusted. It is really the summer that kills me!!!!!!!!! Luckily, now, I get paid biweekly at my 2nd job. That goes toward my recently accrued credit card debt (I had no credit card debt until November. Carpet, paint, tile, etc... piles up quickly. I now have $5K and $4K is on a 12 month interest free plan. Hopefully, I pay it all off by then or it kicks to 22% :eek:)
     
  15. elizak83

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    Me also!! I babysat tonight for extra money....( I haven't been living on my own for long...I used to live w/ a bf who sort of supported me.)
    I can't wait until the end of January.

    At my old school it was twice a month. MUCH better.
     
  16. DrivingPigeon

    DrivingPigeon Phenom

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    I'm fortunate enough to get paid the 15th and 30th of each month. This is the first job I've had where I haven't been paid weekly, and the adjustment is difficult. I get paid this coming Thursday, and I just did my bills. I'm only going to have $93 left in my checking, which has to last me 15 more days. I hate being a poor teacher!
     
  17. Mrs. K.

    Mrs. K. Enthusiast

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    We get paid once a month, but since I have direct deposit at least I can count on it at the same time every month. DH's income varies, but comes halfway through the month. Plus, I'm collecting a pension from the Writer's Guild, so that's helpful.
     
  18. Hoot Owl

    Hoot Owl Aficionado

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    We get paid once a month too, twelve installments.

    It's really tough for the new teachers because we start around the first of August and don't get our first check until Sept. 15th so they work a month and a half with no pay!
     
  19. Pisces_Fish

    Pisces_Fish Fanatic

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    Again, I think that should be illegal!
     
  20. MissFroggy

    MissFroggy Aficionado

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    I'm paid once a month and budget accordingly. I never really have any problems with it and am used to it.

    I tutor on the side though, so have some cash/checks coming in regularly. I still think being paid once a month works for me. I get paid on the last Friday, direct deposit. Great for bills and rent and it's very predictable. I have all my bills come out directly too, so I don't need to worry about paying them, except rent. Makes life so simple!!!
     
  21. Sarge

    Sarge Enthusiast

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    I get paid once a month. Never had a problem. When I started teaching, it was more money than I'd ever seen in my life. I guess I was just used to living poor.
     
  22. DallasTeacher

    DallasTeacher Companion

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    I love being paid once a month -- it's the same amount of money. Every teacher has a college degree and should be able to budget their funds. We are paid around the 15th of the month so we are actually being paid before we've completed the entire month. Also, most professionals I know are paid on a monthly basis -- engineers, attorneys, physicians, etc. Okay, you say well, they make more. It doesn't matter as one normally has a life style that costs more money if they make more.
     
  23. TamiJ

    TamiJ Virtuoso

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    That's a good point, Dallas. I still would like to be paid more than once a month. It can be painful while waiting for that next paycheck.
     
  24. Doug_HSTeach_07

    Doug_HSTeach_07 Comrade

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    I would like to be paid once a month- imagine how big those paychecks are! :)
     
  25. TamiJ

    TamiJ Virtuoso

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    LOL... As a beginning teacher, not really big at all! *sigh*
     
  26. DallasTeacher

    DallasTeacher Companion

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    Budget it! Take your check and transfer funds into another count. Only transfer back what you have 'available" to spend. Of course, you are going to have to put a pencil to paper and actually compute each bill. Do you pay bills by checks or on-line? If by paper, write the check and deduct it from your check register. I'm of the thought that the problem is really one that you are close to over-extending yourself and not the fact that you are paid weekly. Don't feel bad -- if this is the case, your in the same boat as a majority of Americans. :blush:
     
  27. Ms. I

    Ms. I Maven

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    I'm so used to it, so it doesn't really bother me. Of course if I had the choice, I'd want to get paid more often, but I know how to budget my money. I definitely pay the bills first thing!
     
  28. MissFroggy

    MissFroggy Aficionado

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    That was the same thing I experienced!! I was used to checks being all over the place because I never had predictable hours, so they changed weekly as the schedule was posted. It was nice to have a nice "fat" check that made sense and came regularly.
     
  29. TamiJ

    TamiJ Virtuoso

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    Dallas,

    I do transfer about a third of my paycheck to savings every month. I don't over-extend myself, and live within my means. I am feeling more pain in the wallet this time around because of Christmas, we just moved (so security deposit plus a higher rent), and my contract ended so now I am back to subbing and earning less. I live within my means, I just wish my means would come around twice a month instead of once. Once I recover from Christmas and the recent expenses of moving, it will be much better. I am currently still recovering.
     
  30. lemonhead

    lemonhead Aficionado

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    I get paid once a month and DH gets paid every two weeks.

    So here are some of my financial tips.

    First, if you are not already doing it, I suggest you do free, online bill pay through your bank. It makes everything easier. When in a pinch you can change an amount or a date with a click of the mouse. I also, transfer as much as I can to temporary savings and try not to pull from it that month. If I need to, it's easy to do, again with just a click.

    Second, budget, budget, budget. If you can't reduce the amounts of the bills that come off the top of your paycheck, then look at what you are spending the remainder money on. See what you can cut back on. Our biggest expense after our mortgage is food. I am addressing that this year. Also, you may find that you can get things for almost free using a Walgreens or CVS ad and your Sunday coupons.

    Third, call your cable company, phone company, satellite tv company and see what they can do to reduce your bill. I have done this with directv. I called complaining my service kept going out and ended up saving $25 a month for 1 year after I told them DH was fed up and considering switching to cable.

    Fourth, before you spend money on something other than a bill, ask yourself if it is a want or a need. If times are really tough and it is a want, put it back. If it's a need, ask yourself if it can wait or if you can get it cheaper else where. If the answer is 'no' then buy it.

    Fifth, if you really want something and can afford it, say a cute shirt on sale for $20, figure out what that is in bill terms. So think, "wow this is half my phone bill". Then decide if you want to do it.

    Sixth, you know how people always say I saved $5.00 on this "whatever"? Well, my husband, years ago informed me I saved nothing because in reality I still spent money. He would say "so you put $5.00 in our savings?" And sheepishly I would say no. Okay, so here is what you do. Take what you so called saved, or even half of it and really save it.
    Example: If you go to the grocery store and spend $50 and the receipt says "you saved $10, put $10 in a special jar at home to keep for emergencies. ​
    They can be fun emergencies like going out with a friend for her birthday, buying a birthday gift, or accepting an invitation to lunch with friends. (Since I am married with children, much of this money goes to my kids but it is definitely my gift fund as well)

    I hope this helped in some small way.
     
  31. Aliceacc

    Aliceacc Multitudinous

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    Not me! I was making much better money as a college student waitressing than as a first year math teacher!!!
     
  32. Tasha

    Tasha Phenom

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    I love getting paid once a month. As soon as I get paid I pay all of my bills for the month, put money in savings and divide the rest by 4 (weeks) so I know about what I have to spend each week. When I get paid again I put anything leftover from the last month into savings and repeat the process. I think it helps a lot to pay everything and know what you have left right away.
     
  33. Hoot Owl

    Hoot Owl Aficionado

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    It's just tough when you're starting out, you're at the bottom of the pay scale, and you need everything from a refrigerator to table and chairs. The trade off is you're young, strong, and healthy.

    There's been years I've taught summer school, did after school tutoring, and even babysit after school kids. (Took them home with me till mom got off work, and kept them in the summer.) I've known some teachers who worked in dept. stores after school, they'd get discount on their clothes plus a little money to help stretch pay days.

    I'd sure stay away from credit cards and as others have suggested be sure and always put some back in savings even if it's only $10.00.
     
  34. Pisces_Fish

    Pisces_Fish Fanatic

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    Lemonhead, I think you just changed my life...no seriously :lol: What a great way to think about bills (this shirt is half my cell phone bill, do I still want it?) Also, I vow right this second to start ACTUALLY saving the money I "save" buying on sale. Brilliant. Somebody slap me for never thinking of those 2 tricks before.

    Hoot Owl - you hit the nail on the head about being a new teacher and needing lots of things. I need some school clothes and a couch, for starters. At least I'm healthy :)
     
  35. DHE

    DHE Connoisseur

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    I love this idea and I am definitely going to use it. I am not going to complain because my DH gets paid every two weeks plus I get child support every two weeks. I am working on saving more. It does help having a savings that is tied into checking. I am getting better because my husband is great at helping me save. First husband was horrible at saving and great at buying crazy gadgets.:dizzy:
     
  36. d_anne5

    d_anne5 Rookie

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    I agree. I guess I'm one of the few on the other end of the stick who really isn't having financial issues right now. I get paid once a month, and like some of you, I was paid on Dec. 19th and won't be paid again until the end of the month.

    When I get paid, about a third of my check goes to bills. I pay those off first. Then, I use the rest for groceries/gas/misc. throughout the month. I don't go overboard and spend it all; I spend what I need and have a little fun. At the end of the month, I transfer whatever is left into a second account, which is usually a nice chunk. I do this online, so it's easy.

    I've done that the past couple of months, so when my bills roll around for January, I have money in that account to help me out if I need it.

    As for being a new teacher, I took out two credit cards - Best Buy and Rooms-to-Go - to cover my furniture/electronics/"new things." I make monthly payments on those. I'll have those paid off by the time interest hits.

    I guess I do well w/ my money b/c when I lived at home with my mom, she didn't make much and wasn't very good at budgeting. I learned very quickly that whatever money I made working as a hostess, I needed to make sure that I could pay my expenses. I knew that I really didn't have a safety net in case anything happened.
     
  37. RainStorm

    RainStorm Phenom

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    I've been paid monthly, twice a month, and now some "genius" came up with the idea that we get paid every two weeks, but our health costs are deducted bimonthly! Huh? That means that our check is different each time!!!!!!!!! You never have any idea how much, exactly, it will be. That is a pain, just in terms of always having to check your bank account to see how much is there. Also, all of my bills are due monthly, so the dates don't always match up. (I have to keep some from this check to pay next month's bills, because I won't have my next check by then.)

    That being said, regardless of being paid once a month or twice a month, you still get the same amount of money each month!!!!!!! So if you are running out of money, for whatever reason, you are living above your means. You need a budget!!!

    Of course you pay your rent/mortgage first, and your car second (if having one is essential to getting to work to earn a living), food and utilities come next. If you aren't good at keeping money through the whole month, buy gift cards for the grocery on pay day -- enough to last the whole month. Then pay utilities and any other necessaries. Put aside money for gas in the car. Whatever is left is all there is -- for savings, for fun, for emergencies... If there is none left, you are living above your means, and whether you are paid monthly or bimonthly, it will eventually catch up to you.

    My grandmother always told me "If I can't pay cash for it, then I don't really need it." I have followed this advice all of my life. The only two things I have that I couldn't pay cash for -- my house and my car. (She always rented and bought used cars... but I believe homeownership is important.)

    There were many years I didn't have all the things I would have wanted. THere was a time I didn't have cable TV. It was a bummer, but nobody has to declare bankruptcy because they don't have cable tv! There were times I had to eat mac and cheese instead of steak or going out to eat. I never got skinny from hunger! There were times I couldn't do some things I might have enjoyed. I wasn't the first person to have a VHS, or to have the internet, or to have a DVD player. I didn't go out to movies every week. I didn't buy expensive clothes. Those were all "wants"... I had to save my money for the "needs."

    But by being very careful and budgeting, I managed to buy a house (as a single woman). I managed to get some rental property (more income for me!) I've saved for a new roof, new siding, new windows, a much needed bathroom remodel... all big expenses.

    At almost 50 years of age, I own my own home (it will be totally paid off the year I retire -- age 62) and a rental property. I have no debt of any kind -- yep, that's right, I have no bank loans -- I don't even have any credit card debt!

    I still don't have as much savings as I'd like, but I'm working on that. I do splurge now and again, but that's because now, many years later, I make more money and can manage it without running short each month.

    I do make sure that by May of each year, I have paid my utilities ahead through September (and I have 12 month pay, not 10 month).... I just don't want to have to worry about it in the summer.

    Debt is a viscous cycle. If you don't have cash for it, you don't really need it!!
     
  38. Pisces_Fish

    Pisces_Fish Fanatic

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    Well, I don not have any credit cards right now, but I do have some old debt. Everything I buy is cash. Luckily I have not run out of money, but I do cut it close a lot. I really want to begin being totally aware of where my money goes and how to spend it more wisely.
     
  39. DallasTeacher

    DallasTeacher Companion

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  40. chemteach55

    chemteach55 Connoisseur

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    Even though we no longer really worry about money and my husband does get paid twice a month I agree with DallasTeacher and it all comes down to budgeting. I am good with numbers until you put a $ in front of them. As a result, I never keep cash because I cannot account for it. I have a credit card that everything goes on. This card is paid off monthly and my husband and I spend an evening every month going over the statement and what was necessary purchases (groceries, gas, etc.)and what was not necessary (the trip to Starbucks). We also get points on this card and between that and the travel that my husband does for work, this helps pay for a vacation every summer. We also have a low interest credit card that may or may not get paid off every month for big ticket items. Like the refrigerator that we had to purchase last December because the old one died in the middle of purchasing Christmas gifts. We also have 2 other cards that have very low limits because they are carried by our teenage daughters for emergencies. They are required to get permission for any penny spent on those cards unless it is an extreme emergency. They are also allowed to put $100 per month in gas on that card and these cards are also paid off every month.
     
  41. bballlady

    bballlady Rookie

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    You've stated that you are hoping to rent. Most utility companies do a credit check prior to setting up accounts. I would think a good landlord would do the same. Do you feel this will cause any difficulties for you? Cutting it close is not something you should contemplate when renting. If you aren't aware of where your money goes you need to see if you can honestly afford to rent.
     

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