Getting Out of a Financial Bind when You’re Between Paychecks

Sometimes, people feel like they need to be paid regularly in order to be able to keep their budgets organized and their lives together. For example, if you are paid every week or every other week on the same day, it makes it easy to know when your money is going to be coming in and how to make plans with it. However, not everyone has this regularity in their lives. Some people get paid regularly or less frequently than every two weeks.

For example, there are people who are paid every month or even every 60 days. If you are paid infrequently, advance check cashing may be a good solution for you. People who do freelance work often get paid irregularly, just depending on when they are able to get work. However, this does not mean that it is impossible to keep things organized and make sure that you always have enough money. You just need to be a little bit more organized and have contingency plans for the situation.

Money management is very important when you are not receiving money on a frequent and regular basis. You need to make sure that you are not blowing all of your money right after you get your paycheck because you know that chances are that that paycheck is going to have to last quite a while. You actually do not have to spend any less on yourself or pinch pennies any more than anyone who makes a comparable salary and gets paid every week. You just need to be more careful when you are budgeting.

For example, in your situation, it will always be a good idea to have an emergency fund. You should always have money that you are disciplined enough not to touch for any reason unless an actual emergency comes up. This means that unless you absolutely have to pay a bill and do not have any other money to use for the payment or are completely out of food and don’t have any other way of stocking your fridge, you can use your emergency money. You can also use it in some other emergency situations that are up to your discretion, but not simply because you see something at the mall that you want. You need to make sure that you exercise the discipline that comes with having an emergency fund, otherwise, there will be no point to having it.

Another option to look into involves installment loans. An installment loan is exactly what it sounds like – a loan that you have to pay back in more than one installment. Examples of this kind of loan include car loans and mortgage loans. If you have decent credit, you may actually qualify for an installment loan that you can use if you end up running out of money between payments. This would be a great option, as long as you are able to pay back the loan in a timely fashion with the interest that is required. Because of the interest, a lot of people would rather not get involved with loans in the first place, but it can be good to know that you have this option if your back is up against a wall.

You are not doomed to fail financially just because you do not get paid regularly and frequently. It just requires you to exercise your financial skills and savvy more than someone who gets paid every week would have to, which could actually even help you in the future if you end up no longer in this situation.