If you're used to receiving a paycheck twice a month or 24 paychecks a year, changing to a biweekly schedule means you collect 26 paychecks a year -- two "extra" paychecks. When you get those checks depends on what year it is and what day you get paid. The easiest way to figure it out is to take a calendar and mark an "X" every two weeks on the day of the week your employer pays you. You'll discover there are some months that have five potential paydays, and you'll receive a check three times in two of those months.
Biweekly Pay Example
For example, suppose that Friday is your payday. In 2014, there are four months with five Fridays: January, May, August and October. You get paid the second Friday in January, so you only earn two checks that month, but you are paid the first Friday in May, so you receive three checks that month. You get paid the second Friday in August, and the first Friday in October, which makes October your second triple-check month.
Budgeting Biweekly Earnings
The amount you earn in each biweekly check is less than you would receive if you were paid twice a month, so you're not really getting "extra" checks. However, if you can budget your biweekly pay as though you are paid twice a month, the two additional checks will seem like surplus money you can put into savings, use to pay down debt or put toward a new car or a summer vacation.
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