We pay ourselves on Wednesday. Every Wednesday. If you get paid weekly then of course pay day should be your “pay day.” But we get paid monthly so we picked Wednesday for our “pay day.” This is when we go to the bank and take all of “Today’s Money” out in cash.
I think Wednesdays are the perfect day to declare that your “Everyday Money” pay day. It works because it is two days before the weekend and just two days after it. If you pay yourself on Friday you are more likely to blow too much money over the weekend and if you pay yourself on Monday you are likely to not have money to enjoy the weekend– then you just blow your budget altogether. Now that would be no good!
Now, what if your weekend is actually say Tuesday and Wednesday? Then consider a Friday or Saturday pay day.
We had an interesting second week.
Ella’s 2nd birthday party was that Sunday. It was like we were having a wedding. We were at the store constantly. We spent $1.17 for pipe cleaners to give antenna’s to the lady bug on the cake. Then there was candy to fill the pinata, last minute bottles of pop, an extra roll of wrapping paper, and “Whoops, we are out of wrapping tape.” Not to mention the cake, a sudden realization that Ella just had to have a Mr. Potato Head (my idea), and an extra package of napkins.
By Saturday we were almost out of money. To the point where I said, “Boy we sure spend a lot of money!”
Keep in mind that when you get started on the Three Piece Plan it will initially cause some friction— but not as much as constantly being in debt!