For many workers paid every other week, the first of two triple-payday months of 2025 is on the horizon.
Technically, months with an extra payday happen four times per year. But, if you are paid bi-weekly, you only benefit from two of those bonus months.
One such occurrence is coming in May.
Will you get an “extra” payday in May?
This will depend on when you were last paid.
If you are paid bi-weekly, and last received a paycheck on Thursday, April 24, or Friday, April 25, there is no three-payday May for you.
If you were paid just before Easter, you’ll receive three paychecks next month on May 2, 16, and 30. (If you’re paid on Thursdays, payday will fall on the day prior, of course.)
For those paid every week, you’ll receive five paychecks in May.
When is my next triple-payday month?
This depends on when your first triple-payday month falls. For those receiving an “extra” check in May, the next three-check month is October.
If you received three paychecks in January but will not in May, your next special month is August.
Those paid on Thursdays who received an “extra” check in January will see their next triple payday in July.
Why is there a third payday in May, and are the checks really ‘extra?’
You can thank the 52-week year for your bi-annual bonus paycheck month. Fifty-two weeks doesn’t evenly spread out across 12 months, giving some months slightly more than four full weeks on our calendars.
That gives way to some months having additional paydays, though these paychecks aren’t really “extra.” If you are paid bi-weekly, you receive 26 paychecks annually. That means you are paid twice a month, except for two months when you are paid thrice.
Financial experts warn to view it not as “extra” but just another part of your income you should expect to receive annually.
Alliant Credit Union recommends reviewing your budget: If you’re on track with your two usual paychecks (or four, depending on how frequently you’re paid), it may be best to invest the funds or put them toward other financial goals, like paying down debt or contributing to an emergency fund.
The post Will you receive an ‘extra’ paycheck in May? appeared first on KTLA.
