"Peace begins with a smile."Mother Teresa
|
| |
Biggest Budget Blunders
Does your budget never seem to balance the way it should? Are you constantly digging into the savings to make ends meet?If you find that your budget isn't doing the job, then it's time to take a good look at essential components you might be missing or ...
Creating an Affiliate Marketing Budget
Your first thought on seeing the title of this article isprobably, "I'm not going to need a budget because I'm notgoing to spend any money." I'm sorry, but that's not how itworks. If you don't want to spend ANYTHING, you are notgoing to succeed.Now that ...
Tricks to quality prints with the right budget
What is the first thing that gets into your mind when thinking of having the right quality into your prints? It is the cost, right? It seems that getting the best is always synonymous with high cost. This fact is based upon the reality that people should ...
|
|
|
| |
When you receive paychecks weekly or biweekly the good thing is that you do not account for the months in which the extra checks arrive. Or do you?
If you receive a weekly paycheck you receive four extra checks a year if you are paid weekly and two if you are paid biweekly. Here's how: In a sense it is like having an automatic bank account that someone has been putting money into for you. Each year contains 12 months, but 26 two-week periods. Keep in mind that every year, four different months last or five weeks as opposed to four weeks and that is what accounts for the 25th and 26th payments. We often grow accustomed to the notion that there is four weeks in every month but on average it actually comes to 4.3 weeks. Assuming an $80,000 taxed at 25% (straight up) here is what the money equates to assuming Friday paydays for the 2004 calendar year.
Schedule Timing and amount (2004) Yearly total
Weekly Jan, Apr, Jul Oct $1,154 per check $4,616
Biweekly Apr, Oct $2,308 per check $4,616
From the way this budget is set up the extra money can be used for whatever you like. I prefer to label them as bonus checks. The hard part is waiting from them to arrive at their different intervals throughout a year. This is nice because you earned it and you deserve it.
What if you get paid bimonthly?
If you receive paychecks on a bimonthly basis it is usually on the 15th and 30th of every month. So how do you create a set-up so you can receive bonus checks? The $80,000 gross pay equates to an average of $6,666 a month in gross income. Instead of receiving 26 or 52 paychecks each year, bimonthly paychecks total only 24. Therefore, you will have to determine an amount you can set aside each month from both paychecks as your monthly average will be higher than the weekly and biweekly scenario.
Copyright David Mulonas - http://www.flipping70.com
|
|
|
|
|
|
|
