What to do in a 3 paycheck month

Twice a year the typical employee gets to experience something magical.

The 3 paycheck month.

3 paychecks in 1 month! Always a cause for celebration. Or at least it feels that way.

It’s easy to get excited about that extra paycheck. It’s like free money. Who wouldn’t get excited about free money?

It’s free money!

(Well, it isn’t free money. You had to work for it.)

It can feel like found money even though it isn’t. And who’s going to miss found money if it gets wasted?

Try something different.

The typical employee would use that extra money to splurge. (But you’re not the typical employee, right?)

Here are some ideas for maximizing that extra paycheck:

1- Realize that this is a big opportunity

Recognize that 3 paychecks in the same month could be the seed for your financial breakthrough.

No, that extra paycheck won’t make you rich but it could serve as a way to get ahead of your bills.

It could be the start of your emergency fund.

It could be used to start investing. Remember, it isn’t found money. It isn’t money to be blown.

It’s an opportunity that needs to be taken advantage of. This is money that needs to be given a purpose.

2- Plan ahead and budget to live off only 2 paychecks that month

If you normally live off 2 paychecks every month then in theory you can save the third extra paycheck. This isn’t as simple as it sounds. There will be 5 weeks in that month (that’s why you have 3 paychecks) and you may need a little extra for that extra week.

You need to look at what your monthly expenses are and also your weekly expenses. Write them down and make a plan. You’ll need a calendar, pen and paper. Maybe a calculator too.

Add up how much money you’ll need and see if you can save the entire third paycheck. If you can’t then saving a part of it is still better than nothing.

Even if you can, you still need to plan.

You may need to save a part of each paycheck instead of saving a whole paycheck all at once. It all depends on your bills and what dates they need to be paid.

3- Have a plan for that extra money

Once you’ve figured out how to save that 3rd paycheck you have to put it to work. What will you do with it?

Will you use it to get caught up on late payments? Maybe buy a cheap car to get you around town?

You could start a side business or pay for classes. Nothing better than using money to make more money.

Whatever you decide to do, don’t let this money just slip through your fingers. It’s too easy to just spend money without thinking before you even realize it’s gone.

Do something different. Take control of your life and be purposeful with your money.

Be different. Most people don’t do this. Trust me, you don’t want to be like most people. You don’t want what most people have.

You won’t make it being ordinary so don’t do ordinary things. It can all start with something as simple as putting that extra paycheck to good use.

Use this opportunity to move forward and improve your life.


  1. Great read! In the past I was definitely guilty of feeling like the 3rd paycheck was “free money” and would spend it freely & carelessly. A lesson learnt. Thank you for sharing the knowledge!

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