(NEXSTAR) – July is almost here, and for some workers, that could mean a little more money landing in the bank.
The month is one of those calendar quirks when employees paid weekly or every other week may receive an extra paycheck.
Since 52 weeks do not split evenly into 12 months, certain months end up with an additional Friday, creating the possibility of an “extra” payday.
July will be the third such triple-payday month so far this year, after April and May.
Will you get a bonus paycheck in July?
However, if you are paid every two weeks and already received a third paycheck in May, July will not bring another added deposit.
Not sure whether you received an extra check recently? The easiest way to tell is to check the date of your last payment.
If your latest paycheck arrived on June 25 or June 26, you will not have three paydays in July. But if your last pay date was during the third week of June, you can expect an additional paycheck next month.
Workers who are paid weekly should also see an extra paycheck in July.
After July, the next triple payday month is October. Those receiving an additional payday in July, however, will have to wait until January for their next “bonus” month.
It’s important to note that whenever you receive an extra check, it isn’t like you won the lottery. Instead, financial experts encourage treating the payments as what they are: a portion of the entire salary you’re entitled to this year. If your budget is balanced for the month, they recommend putting the additional funds toward paying down a debt, setting aside for another month, or tucking it away in your savings.
