Question about getting Paid "Semi-Monthly" vs "Bi-weekly" (401k, jobs)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Why is it ridiculous? That is sound financial advice...and not something he even came up with on his own.
It's good advice and something to shoot for but he is saying that 99% already SHOULD have it which is nonsense. Just because he has it doesn't mean everyone else should because it depends on how much money you have after paying bills.
You should have that amount in savings, 6x what you need each month, to live if you have a financial crisis. And I do not believe for a second that you really need this explained.
He said 99% of employed people in america should have 6 months worth of savings and I said I refuse to respond because it's ridiculous.
Quote:
Originally Posted by TVandSportsGuy
It's good advice and something to shoot for but he is saying that 99% already SHOULD have it which is nonsense. Just because he has it doesn't mean everyone else should because it depends on how much money you have after paying bills.
No it doesn't depend It is sound financial advice. The amount of savings would depend on how much you make, of course, but yes, everyone should have a 6 month emergency fund. Many don't, but everyone should.
You should have that amount in savings, 6x what you need each month, to live if you have a financial crisis. And I do not believe for a second that you really need this explained.
What I have is my savings is nobody's business on this board. Why the hell would i share that with a stranger on the internet?
No it doesn't depend It is sound financial advice. The amount of savings would depend on how much you make, of course, but yes, everyone should have a 6 month emergency fund. Many don't, but everyone should.
That sounds better, you should but not everyone does. I'm sure many people would love to have that
I didn't say anything different. Obviously a lot of people are unprepared, but everyone "should".
I was unprepared when I was laid off in 2009.
I went through my savings in less than 2 months and the $250 UI from FL (a horrible state) didn't help either... Don't miss the days of paycheck to paycheck with $50 in the bank.
Now I'm in a better state... Better job... Twice the pay... And if a layoff does happen the WA maximum is a much more "liveable" $580 per week.
Why I did I bring home more money after taxes when I was paid on the 15th and 30th
But now that I get paid bi-weekly I bring home less money after taxes with the same exact salary?
I used to think getting paid semi-monthly was a bad thing but maybe not so much anymore
I seem to remember a thread from a couple or three years ago where you were absolutely orgasmic about getting paid every two weeks with a month that had three checks. It took about 300 replies for you to understand that you weren't getting "extra" money.
If I remember correctly you were considering paying your rent late because you wanted to "save" the "extra" money.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It is sound financial advice. The amount of savings would depend on how much you make, of course, but yes, everyone should have a 6 month emergency fund. Many don't, but everyone should.
