Unlocking the Bonus: Making the Most of July's Triple Payday Month
July is a special month for those who are paid weekly or bi-weekly as it may bring an extra paycheck. Due to the uneven distribution of 52 weeks in a year across 12 months, some months have an additional Friday, resulting in a possible bonus payday. This month marks the third triple-payday month of the year, following April and May. If you received an extra paycheck in May, you won't see one in July. To determine if you'll get an additional payment, check when you were last paid. If your last paycheck was on June 25 or 26, you won't have three paydays in July. However, if you haven't been paid since the third week of June, you can expect an extra payment in July. Weekly paid individuals will also receive a bonus paycheck next month. The next triple payday month after July is October, and those who receive an extra payday this month will have to wait until January for the next bonus month. Financial experts advise treating the additional paycheck as part of your annual salary rather than windfall money. They recommend using the extra funds to pay off debts, save for the future, or bolster your savings.