Save 8% of your Annual Income & The Two Paycheck Method

How would you like to save nearly 8% of your income a year without changing any of your behaviors on a monthly basis (except for filtering money into your savings account)?  The process sounds simple, and the process is simple.   All it takes is thinking about your paychecks differently.

Most people get paid bi-weekly.  For example, I have three jobs, and all of them pay me bi-weekly.  That means 26 pay checks per year, or 2.167 pay checks per month.  If your paychecks are like mine, it means that 10 months out of the year you are only going to receive two paychecks a month.  The other 2 months of the year you get three paychecks.  If you have been living 10 of 12 months on two paychecks, what should you be doing with the third paycheck that arrives on the other 2 months.  Save it!

Most people receive paychecks bi-weekly

Most people receive paychecks bi-weekly

Personally, I look at my finances as a monthly battle.  Net income vs. net spending.  The weapons for me in this battle are my paychecks.  If your monthly battles have the same outcome as mine, your net income beats your net spending consistently and you are an ideal candidate for adopting the two paycheck method.  That third paycheck is superfluous, and shouldn’t be necessary to maintain your current standard of living.

If you don’t absolutely need that money to survive, think of all the other things you can do without comprising your lifestyle.  You can siphon that money into an emergency fund, or you can pay off debt or put it towards other savings goals.

Another reason to plan on living off of 24 paychecks a year vs. 26 is the likelihood of changing jobs in your mid twenties.  According to the Bureau of Labor Statistics, the median job length for people with a bachelor’s degree between the age of 25 and 34 in 2008 was 2.6 years.  These statistics were before the US economy tanked last fall and several of our peers found themselves out of work.  When the data is recalculated later this year, it is likely that the 2.6 year median will have declined.

There is a tendency amongst young adults to job hop as they settle into the workforce.  You may find yourself without any income for several cumulative weeks over the next five years.  This may be the case even if you were never laid off. You could want to take a few weeks off before changing jobs or you may not have the opportunity to start a new job on your time frame.  This would be an ideal time to have those third paychecks waiting for you to use to make sure your bills are paid for the month.

Try this method for two years, and you will have  four paychecks saved.  Think of what you can do with four paychecks.  A trip to Europe for two weeks with money left over sounds like a possibility, even on a 40K a year salary.

10,934 Responses to Save 8% of your Annual Income & The Two Paycheck Method
  1. Watch Online Movie
    January 23, 2019 | 9:29 pm

    Hello there. I found your site by means of Google at the same time as searching for a related matter, your web site got here up. It seems good. I’ve bookmarked it in my google bookmarks to come back then.

  2. 123Movies
    January 23, 2019 | 9:30 pm

    Awesome post. I’m a normal visitor of your blog and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a long time.

  3. movies festival
    January 23, 2019 | 9:38 pm

    Unquestionably believe that which you stated. Your favorite justification seemed to be on the web the simplest thing to be aware of. I say to you, I certainly get irked while people think about worries that they just do not know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people can take a signal. Will probably be back to get more. Thanks

  4. Starting a Business
    January 23, 2019 | 9:45 pm

    I and my pals were actually checking the great guides located on your web site and so unexpectedly I had a terrible feeling I never thanked the web blog owner for them. The people happened to be as a consequence very interested to read all of them and already have undoubtedly been using these things. Many thanks for turning out to be considerably helpful and also for picking out these kinds of very good areas millions of individuals are really needing to discover. My personal sincere apologies for not saying thanks to sooner.

  5. Angel Tinnea
    January 23, 2019 | 10:00 pm

    An enlightening conversation is worth comment. I think that you will want to write more and more on this area of interest, it may not end up being a taboo subject but commonly people are not courageous sufficient enough to talk on these topics.

  6. applied art
    January 23, 2019 | 10:22 pm

    I would like to show some thanks to the writer for rescuing me from this type of predicament. Because of surfing throughout the world-wide-web and seeing things which were not powerful, I assumed my life was done. Being alive without the strategies to the problems you have fixed by way of your entire review is a serious case, and those which may have in a wrong way damaged my career if I had not encountered your site. Your primary competence and kindness in handling all areas was valuable. I’m not sure what I would’ve done if I had not come upon such a step like this. It’s possible to now look forward to my future. Thanks so much for this skilled and amazing help. I will not be reluctant to refer your web sites to any person who wants and needs guidelines about this area.

  7. college
    January 23, 2019 | 10:26 pm

    There is visibly a bunch to realize about this. I feel you made various nice points in features also.

  8. website builders
    January 23, 2019 | 10:26 pm

    Hello.This post was extremely motivating, particularly since I was looking for thoughts on this topic last Friday.

  9. 69qiuqiu
    January 23, 2019 | 10:46 pm

    Hiya, I am really glad I have found this info. Nowadays bloggers publish only about gossip and internet stuff and this is actually irritating. A good site with interesting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

  10. 69qiuqiu
    January 23, 2019 | 11:15 pm

    Hiya, I am really glad I’ve found this info. Today bloggers publish just about gossip and net stuff and this is actually frustrating. A good site with exciting content, that’s what I need. Thank you for making this web-site, and I will be visiting again. Do you do newsletters by email?

  11. Watch Online Movie
    January 23, 2019 | 11:34 pm

    Awesome write-up. I am a regular visitor of your blog and appreciate you taking the time to maintain the excellent site. I will be a regular visitor for a long time.

  12. 123Movies
    January 23, 2019 | 11:37 pm

    Hiya, I’m really glad I’ve found this information. Nowadays bloggers publish just about gossip and web stuff and this is actually frustrating. A good site with exciting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

  13. A person essentially assist to make significantly articles I might state. This is the first time I frequented your web page and so far? I amazed with the research you made to make this particular submit amazing. Wonderful job!

  14. Starting a Business
    January 24, 2019 | 12:39 am

    Very well written article. It will be valuable to anyone who utilizes it, including me. Keep doing what you are doing – looking forward to more posts.

  15. Someone essentially lend a hand to make severely posts I might state. That is the very first time I frequented your website page and thus far? I surprised with the analysis you made to make this actual publish amazing. Excellent job!

  16. mobile web development
    January 24, 2019 | 1:06 am

    I do consider all of the concepts you’ve presented for your post. They’re really convincing and can certainly work. Nonetheless, the posts are very short for starters. Could you please prolong them a little from subsequent time? Thanks for the post.

  17. Google
    January 24, 2019 | 1:16 am

    Wonderful story, reckoned we could combine some unrelated information, nevertheless really really worth taking a search, whoa did 1 understand about Mid East has got far more problerms also.

  18. situs agen poker
    January 24, 2019 | 1:22 am

    Hey there. I found your website by means of Google at the same time as searching for a comparable subject, your web site got here up. It seems to be good. I have bookmarked it in my google bookmarks to come back then.

  19. bengkel ford jakarta
    January 24, 2019 | 1:29 am

    Hello there. I discovered your website by means of Google whilst searching for a similar subject, your site came up. It seems to be good. I’ve bookmarked it in my google bookmarks to visit then.

  20. poker 88
    January 24, 2019 | 1:29 am

    Hiya, I’m really glad I have found this information. Today bloggers publish only about gossip and web stuff and this is really annoying. A good website with exciting content, this is what I need. Thanks for making this site, and I’ll be visiting again. Do you do newsletters by email?

  21. poker online terpercaya indonesia
    January 24, 2019 | 1:45 am

    Awesome write-up. I’m a regular visitor of your website and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a long time.

  22. usually posts some really exciting stuff like this. If you are new to this site

  23. BandarPoker
    January 24, 2019 | 2:57 am

    Awesome post. I am a normal visitor of your web site and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a really long time.

  24. Bandar Poker
    January 24, 2019 | 3:21 am

    Hiya, I am really glad I have found this information. Today bloggers publish only about gossip and net stuff and this is really frustrating. A good web site with exciting content, this is what I need. Thank you for making this site, and I’ll be visiting again. Do you do newsletters by email?

  25. bengkel resmi ford
    January 24, 2019 | 3:22 am

    Awesome write-up. I’m a normal visitor of your blog and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a long time.

  26. poker 88
    January 24, 2019 | 3:25 am

    Hi there. I found your website by the use of Google even as searching for a similar subject, your website came up. It seems good. I’ve bookmarked it in my google bookmarks to come back then.

  27. kartu dragon
    January 24, 2019 | 4:20 am

    Awesome write-up. I am a regular visitor of your web site and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a really long time.

  28. Someone essentially lend a hand to make significantly articles I might state. This is the first time I frequented your website page and up to now? I surprised with the research you made to create this actual publish incredible. Great process!

  29. judi poker online terbaik
    January 24, 2019 | 4:45 am

    Awesome post. I’m a normal visitor of your site and appreciate you taking the time to maintain the nice site. I will be a regular visitor for a really long time.

  30. Somebody necessarily assist to make critically posts I might state. This is the first time I frequented your web page and thus far? I amazed with the analysis you made to create this particular submit extraordinary. Wonderful task!

  31. bandar togel terpercaya
    January 24, 2019 | 5:46 am

    Awesome write-up. I’m a normal visitor of your web site and appreciate you taking the time to maintain the nice site. I will be a regular visitor for a long time.

  32. kursus bahasa jepang di Denpasar
    January 24, 2019 | 5:51 am

    Hi there. I found your blog by means of Google while searching for a similar matter, your website got here up. It appears to be good. I have bookmarked it in my google bookmarks to visit then.

  33. domino qiu qiu
    January 24, 2019 | 6:08 am

    Awesome write-up. I am a normal visitor of your web site and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a long time.

Trackbacks/Pingbacks
  1. Large Abstract Canvas Art
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/save-8-of-your-annual-income-%e2%80%93-the-two-paycheck-method/trackback/

Save 8% of your Annual Income & The Two Paycheck Method

How would you like to save nearly 8% of your income a year without changing any of your behaviors on a monthly basis (except for filtering money into your savings account)?  The process sounds simple, and the process is simple.   All it takes is thinking about your paychecks differently.

Most people get paid bi-weekly.  For example, I have three jobs, and all of them pay me bi-weekly.  That means 26 pay checks per year, or 2.167 pay checks per month.  If your paychecks are like mine, it means that 10 months out of the year you are only going to receive two paychecks a month.  The other 2 months of the year you get three paychecks.  If you have been living 10 of 12 months on two paychecks, what should you be doing with the third paycheck that arrives on the other 2 months.  Save it!

Most people receive paychecks bi-weekly

Most people receive paychecks bi-weekly

Personally, I look at my finances as a monthly battle.  Net income vs. net spending.  The weapons for me in this battle are my paychecks.  If your monthly battles have the same outcome as mine, your net income beats your net spending consistently and you are an ideal candidate for adopting the two paycheck method.  That third paycheck is superfluous, and shouldn’t be necessary to maintain your current standard of living.

If you don’t absolutely need that money to survive, think of all the other things you can do without comprising your lifestyle.  You can siphon that money into an emergency fund, or you can pay off debt or put it towards other savings goals.

Another reason to plan on living off of 24 paychecks a year vs. 26 is the likelihood of changing jobs in your mid twenties.  According to the Bureau of Labor Statistics, the median job length for people with a bachelor’s degree between the age of 25 and 34 in 2008 was 2.6 years.  These statistics were before the US economy tanked last fall and several of our peers found themselves out of work.  When the data is recalculated later this year, it is likely that the 2.6 year median will have declined.

There is a tendency amongst young adults to job hop as they settle into the workforce.  You may find yourself without any income for several cumulative weeks over the next five years.  This may be the case even if you were never laid off. You could want to take a few weeks off before changing jobs or you may not have the opportunity to start a new job on your time frame.  This would be an ideal time to have those third paychecks waiting for you to use to make sure your bills are paid for the month.

Try this method for two years, and you will have  four paychecks saved.  Think of what you can do with four paychecks.  A trip to Europe for two weeks with money left over sounds like a possibility, even on a 40K a year salary.

10,934 Responses to Save 8% of your Annual Income & The Two Paycheck Method
  1. Watch Online Movie
    January 23, 2019 | 9:29 pm

    Hello there. I found your site by means of Google at the same time as searching for a related matter, your web site got here up. It seems good. I’ve bookmarked it in my google bookmarks to come back then.

  2. 123Movies
    January 23, 2019 | 9:30 pm

    Awesome post. I’m a normal visitor of your blog and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a long time.

  3. movies festival
    January 23, 2019 | 9:38 pm

    Unquestionably believe that which you stated. Your favorite justification seemed to be on the web the simplest thing to be aware of. I say to you, I certainly get irked while people think about worries that they just do not know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people can take a signal. Will probably be back to get more. Thanks

  4. Starting a Business
    January 23, 2019 | 9:45 pm

    I and my pals were actually checking the great guides located on your web site and so unexpectedly I had a terrible feeling I never thanked the web blog owner for them. The people happened to be as a consequence very interested to read all of them and already have undoubtedly been using these things. Many thanks for turning out to be considerably helpful and also for picking out these kinds of very good areas millions of individuals are really needing to discover. My personal sincere apologies for not saying thanks to sooner.

  5. Angel Tinnea
    January 23, 2019 | 10:00 pm

    An enlightening conversation is worth comment. I think that you will want to write more and more on this area of interest, it may not end up being a taboo subject but commonly people are not courageous sufficient enough to talk on these topics.

  6. applied art
    January 23, 2019 | 10:22 pm

    I would like to show some thanks to the writer for rescuing me from this type of predicament. Because of surfing throughout the world-wide-web and seeing things which were not powerful, I assumed my life was done. Being alive without the strategies to the problems you have fixed by way of your entire review is a serious case, and those which may have in a wrong way damaged my career if I had not encountered your site. Your primary competence and kindness in handling all areas was valuable. I’m not sure what I would’ve done if I had not come upon such a step like this. It’s possible to now look forward to my future. Thanks so much for this skilled and amazing help. I will not be reluctant to refer your web sites to any person who wants and needs guidelines about this area.

  7. college
    January 23, 2019 | 10:26 pm

    There is visibly a bunch to realize about this. I feel you made various nice points in features also.

  8. website builders
    January 23, 2019 | 10:26 pm

    Hello.This post was extremely motivating, particularly since I was looking for thoughts on this topic last Friday.

  9. 69qiuqiu
    January 23, 2019 | 10:46 pm

    Hiya, I am really glad I have found this info. Nowadays bloggers publish only about gossip and internet stuff and this is actually irritating. A good site with interesting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

  10. 69qiuqiu
    January 23, 2019 | 11:15 pm

    Hiya, I am really glad I’ve found this info. Today bloggers publish just about gossip and net stuff and this is actually frustrating. A good site with exciting content, that’s what I need. Thank you for making this web-site, and I will be visiting again. Do you do newsletters by email?

  11. Watch Online Movie
    January 23, 2019 | 11:34 pm

    Awesome write-up. I am a regular visitor of your blog and appreciate you taking the time to maintain the excellent site. I will be a regular visitor for a long time.

  12. 123Movies
    January 23, 2019 | 11:37 pm

    Hiya, I’m really glad I’ve found this information. Nowadays bloggers publish just about gossip and web stuff and this is actually frustrating. A good site with exciting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

  13. A person essentially assist to make significantly articles I might state. This is the first time I frequented your web page and so far? I amazed with the research you made to make this particular submit amazing. Wonderful job!

  14. Starting a Business
    January 24, 2019 | 12:39 am

    Very well written article. It will be valuable to anyone who utilizes it, including me. Keep doing what you are doing – looking forward to more posts.

  15. Someone essentially lend a hand to make severely posts I might state. That is the very first time I frequented your website page and thus far? I surprised with the analysis you made to make this actual publish amazing. Excellent job!

  16. mobile web development
    January 24, 2019 | 1:06 am

    I do consider all of the concepts you’ve presented for your post. They’re really convincing and can certainly work. Nonetheless, the posts are very short for starters. Could you please prolong them a little from subsequent time? Thanks for the post.

  17. Google
    January 24, 2019 | 1:16 am

    Wonderful story, reckoned we could combine some unrelated information, nevertheless really really worth taking a search, whoa did 1 understand about Mid East has got far more problerms also.

  18. situs agen poker
    January 24, 2019 | 1:22 am

    Hey there. I found your website by means of Google at the same time as searching for a comparable subject, your web site got here up. It seems to be good. I have bookmarked it in my google bookmarks to come back then.

  19. bengkel ford jakarta
    January 24, 2019 | 1:29 am

    Hello there. I discovered your website by means of Google whilst searching for a similar subject, your site came up. It seems to be good. I’ve bookmarked it in my google bookmarks to visit then.

  20. poker 88
    January 24, 2019 | 1:29 am

    Hiya, I’m really glad I have found this information. Today bloggers publish only about gossip and web stuff and this is really annoying. A good website with exciting content, this is what I need. Thanks for making this site, and I’ll be visiting again. Do you do newsletters by email?

  21. poker online terpercaya indonesia
    January 24, 2019 | 1:45 am

    Awesome write-up. I’m a regular visitor of your website and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a long time.

  22. usually posts some really exciting stuff like this. If you are new to this site

  23. BandarPoker
    January 24, 2019 | 2:57 am

    Awesome post. I am a normal visitor of your web site and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a really long time.

  24. Bandar Poker
    January 24, 2019 | 3:21 am

    Hiya, I am really glad I have found this information. Today bloggers publish only about gossip and net stuff and this is really frustrating. A good web site with exciting content, this is what I need. Thank you for making this site, and I’ll be visiting again. Do you do newsletters by email?

  25. bengkel resmi ford
    January 24, 2019 | 3:22 am

    Awesome write-up. I’m a normal visitor of your blog and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a long time.

  26. poker 88
    January 24, 2019 | 3:25 am

    Hi there. I found your website by the use of Google even as searching for a similar subject, your website came up. It seems good. I’ve bookmarked it in my google bookmarks to come back then.

  27. kartu dragon
    January 24, 2019 | 4:20 am

    Awesome write-up. I am a regular visitor of your web site and appreciate you taking the time to maintain the excellent site. I’ll be a frequent visitor for a really long time.

  28. Someone essentially lend a hand to make significantly articles I might state. This is the first time I frequented your website page and up to now? I surprised with the research you made to create this actual publish incredible. Great process!

  29. judi poker online terbaik
    January 24, 2019 | 4:45 am

    Awesome post. I’m a normal visitor of your site and appreciate you taking the time to maintain the nice site. I will be a regular visitor for a really long time.

  30. Somebody necessarily assist to make critically posts I might state. This is the first time I frequented your web page and thus far? I amazed with the analysis you made to create this particular submit extraordinary. Wonderful task!

  31. bandar togel terpercaya
    January 24, 2019 | 5:46 am

    Awesome write-up. I’m a normal visitor of your web site and appreciate you taking the time to maintain the nice site. I will be a regular visitor for a long time.

  32. kursus bahasa jepang di Denpasar
    January 24, 2019 | 5:51 am

    Hi there. I found your blog by means of Google while searching for a similar matter, your website got here up. It appears to be good. I have bookmarked it in my google bookmarks to visit then.

  33. domino qiu qiu
    January 24, 2019 | 6:08 am

    Awesome write-up. I am a normal visitor of your web site and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a long time.

Trackbacks/Pingbacks
  1. Large Abstract Canvas Art
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/save-8-of-your-annual-income-%e2%80%93-the-two-paycheck-method/trackback/