The return to weekly pay?

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TrudiB
Sat, 26/06/2010 - 19:14

Since we're all getting serious about paying back our debts now, I wonder if people agree that being paid weekly might make that easier for some? Only 12 pay days in an entire year is very harsh and most of us tend to spend what we have. So a week after pay day a large percentage of people are skint. Its easy to see why monthly pay was introduced, a great platform for the banks to dish out loans and credit cards like they're going out of fashion and make millions out of people who have nothing! Finally, they, and we, are having to pay the price!

Well, the least companies can do is help us out. 52 pay days a year has got to be an improvement. Of course, we still have the option to be irresponsible with our money if we wish even if we got paid every single day! But those that are serious about getting their finances straight might benefit from this.

It surely can't be difficult for companies to implement since every thing is automatic and electronic these days. I worked for a company less than 10 years ago that was paying weekly and trying to introduce monthly but on a voluntary basis, so a dual system is obviously very do-able.

I think this might well help us, even in just a small way, as individuals and as a country to get out of debt. Some weeks we could pay extra off of our debts, some weeks we treat ourselves. Sounds good to me!