If you’re paid biweekly, then there is an easy way to save even without changing anything else about your financial plan. Twice a year, you may get three paychecks in a calendar month. Bank that “extra” paycheck. Put it straight in your investment account (or, if you’re still working on building your emergency fund or paying down debt, you can apply it to those things, too)! Voilà: instant savings, without a second thought. And you’ll never even miss that money – your financial plan is likely already adjusted for the much more common occurrence of two paychecks per month. We pay many of our bills – rent or mortgage, utilities, phone bills, student loan payments, and so on – on a monthly basis.
Use your third paycheck to give your financial health an extra boost. Twice a year, you can give your savings and investments a big infusion or make a major dent in any debt you may have. It could not be easier!
Paying yourself first (saving, investing, and getting rid of high-interest debt) is the most important thing you can do for your financial health. Don’t miss a chance to save extra, effortlessly.