Why is it that companies run all these wonderful game discounts and sales that always end the day before payday? Steam store has Crom Coins on sale until the 28th, payday is the 29th…
Never ever fails.
Why is it that companies run all these wonderful game discounts and sales that always end the day before payday? Steam store has Crom Coins on sale until the 28th, payday is the 29th…
Never ever fails.
FOMO
Theres a Science behind it and what gets you to spend money cause you’ll miss out.
People tend make poor decisions when they short on money, time etc…
Its one of those weird Sales things, Data upon Data says it works to push Sales.
Curious, is this how being paid monthly works? What happens when February comes around?
Fortnightly is painful enough with bills and all.
Usually your yearly salary is split out in months, you get the same pay check every month no matter the length of it.
This is used a lot in Europe and probably also other parts of the world, it makes sense to have a monthly pay check simply because most bills also are monthly, it just makes living so much easier when you know how much you have to spend each month throughout the year
I understand the logic, was just curious what happens come February?
But also, paying a mortgage monthly, you’ll pay more interest. Weekly or fortnightly payments are much better.
There are a few different ways this can play out.
As mentioned above, some people have an annual salary that is divided into 12 equal chunks.
For those who are hourly and there can be any number of paydays.
Some jobs pay every other week on a set day of the week.
Some jobs pay every week on a specific day of the week.
Some jobs pay out every month on the final day of the month, or the final “business day” of the month.
This one had a job that paid on the 5th and 20th at one point.
The original post had me thinking everyone on salary got paid on 29. I was just wondering what happens in February. If 29 is payday, do they get paid on 28 Feb or 1 Mar?
Thart may be true where you live, but in Denmark(where I live) and most of EU countries, mortgage is usually every 3 months(quarterly), but pretty much everything else is monthly, there are though a few exceptions where you can choose between monthly, quarterly, half yearly or yearly, this is mostly things like insurance, television licence and a few others.
But here is the thing interest is calculated in a way so that you will pay the same no matter how often you pay(weekly, monthly etc.), however it usually gets more costly to handle things more often than less, fee per time for handling these things is the same whether you pay for a week, month etc. so in the long run you save money by using monthly payments rather than weekly, which would cost you more and also add to the cost and time for the reciever
So for us it makes much sense to have monthly salaries, bills etc. because you pretty know how much you have left every month, especially if you have a budget account plan in the bank
Personally though I don’t get much into interest simply because I never use loans, I just pay cash because I always have a good saving for when we need something new
I use to get paid monthly when working for the state. That’s always how they pay. Sadly, I can’t remember the exact date. I got direct deposit and paid everything with credit cards… though I never tried to overspend. If I didn’t have enough in the bank, I won’t buy something. Simple as that. Treated it all like cash. It makes it easier to budget that way and I’m not “waiting for payday.”
For me in Denmark pay day is always the last bank day of a month, it is not a certain date
Salary, unless one is in a horrific dystopia, cannot be paid on the 29th or subsequent days as a fixed salary date.
If any employer offers that, go as far away as possible because they are either crooks or complete imbeciles.
Most likely the 29th is the final Wednesday of the month or such.
Talk about first world problems.
I have quite a few friends who are simply paid every 2 weeks, regardless of what date or month it falls on. That’s how most hourly waged people make it.
My last job was a federal job and they just pay on the 1st and 15th (we get paid monthly, but get a ‘mid month’ pay deducted at the end). There’s no months that have less than 15 days, so it just works. Though if a paydate fell on a federal holiday, they would pay it in advance to the day just before the holiday period started.
Maybe ask your employers to adjust their dates
Get paid at a different time. Payday isn’t universal.
Its not how it works in Europe. Here you work and you will get your money all in once at the 15th (of the month each month) or the end of the month. You only get paid once a month, not weekly. Everything else you pay for is also paid monthly. Electricity, gas, phone and internet, loans, rents and so on. There is no “more or less interest” pay. If you take a loan you get a fixed interest rate on that loan. Right now its around 4,5 percent. And then you pay your monthly costs and you are done.
Its as easy as that.
All good brother. As I mention earlier, reading OP’s post, lead me to believe that 29 was pay day. Second post gave off a stronger belief, using FOMO as a tactic.
I’ve only ever been paid weekly or fortnightly, so wasn’t sure how it worked.
If only I had the $880,000 in my account when I bought my house, I wouldn’t need a mortgage either.
Yeah ok I didn’t really consider the mortgage on house, most won’t be able to save up for that, but pretty much everything else, tv, pc, furniture, car, travels etc. all that other stuff I always pay cash, not a house though
The thing is…
This one has seen employers try to set monthly payday to the 30th of the month.
Now, whether that was incompetence or malice on their part… When this one asked “What about February” the response was almost vacant.
But, in short, in the U.S., it’s the wild west. Details of paydays are between employer and employee with the states only rarely stepping in.
Unless one is in a government job, there isn’t really a solid standard.
This one understands that in other empi- nations there may be more standardization or regulation in this regard. Your concerns were not at all unfounded, apologies if this one implied otherwise.
In either case the sale dates have nothing to do with FOMO or salary dates or anything like that.
It started the day before the US celebrated Thanksgiving and ends the day after Cyber Monday, encompassing Black Friday. Both days being ones that businesses across the US offer sales.
Well, no more than any Black Friday deals have to do with FOMO, but that’s a discussion about U.S. consumer and marketing culture, not a thing that should be laid at Funcom’s feet
Unless Funcom secretly and retroactively time travelled to create the Black Friday shopping situation.
But seriously, your point is valid.