For employees paid bi-weekly, there are usually two months each year that include an extra, third paycheck. This occurs because while most months have two pay periods for bi-weekly schedules, some months contain three due to the way the calendar days align with the bi-weekly cycle.
When Do These Extra Paychecks Occur?
The exact months when you receive an extra paycheck can vary based on the specific year and, importantly, your individual pay schedule, particularly when your first paycheck of the year falls. To illustrate this variability, here are examples for certain first paycheck dates in 2024 and 2026:
| First Paycheck of the Year | Extra Paycheck Months in 2024 | Extra Paycheck Months in 2026 |
|---|---|---|
| January 6 | March & August | January & July |
| January 14 | May & November | May & October |
It's important to note that these are specific examples. Your personal extra paycheck months will depend on your company's pay schedule and the specific start date of your bi-weekly cycle.
How to Identify Your Extra Paycheck Months
To pinpoint when you'll receive an extra paycheck in any given year, you can:
- Review your company's payroll calendar for the year, as it often highlights these three-paycheck months.
- Count the number of paydays (e.g., Fridays if paid every other Friday) in each month. Any month with five paydays will be a "three-paycheck" month.
- Consult your Human Resources (HR) or payroll department for clarity on your specific pay schedule.
Making the most of these extra paychecks can be a smart financial move. Many individuals choose to utilize this additional income to boost their savings, pay down debt, or address other financial goals without impacting their regular budget.
