If you are paid biweekly, there are a number of months during the year when you receive a third salary.
How? There are 52 weeks in a year and 26 pay periods if you get paid every two weeks. Most months have four weeks, so you will typically receive two paychecks per month. But because 26 paychecks spread over 12 months are not evenly distributed, there are usually two months per year in which you receive an extra (third) paycheck.
Where your three-paycheck months fall on the calendar depends on when you received your first paycheck of the year.
Here’s an overview of which months are three monthly salaries, depending on when you received your first salary of 2025:
Browse your pay stubs or bank statements to find the date of your first paycheck in 2025 and to see when you can expect a third paycheck.
It can be exciting to get an extra salary in a month; you may feel like you paid ‘extra’ and be tempted to splurge. However, keep in mind that you have been paid according to your regular schedule and that money is part of your regular paycheck.
However, it can be useful to receive money from three paychecks within the same month. So make sure you make a plan for that money in advance.
Read more: Having trouble budgeting? Following the 50/30/20 rule could be your solution.
If you’re expecting a three-paycheck month soon, here are a few ways to make the most of it and reach your financial goals:
Using your extra money to pay an extra mortgage payment, credit card payment, or student loan. This can help you pay off your debt even faster and reduce overall interest costs.
For example, let’s say you have a $400,000, 30-year mortgage with a 7.4% fixed interest rate. Over the life of your loan, you would pay $597,027 in interest if you stuck to your original monthly payment schedule. However, by making just one additional payment, you can reduce the total interest paid over the life of the loan to $575,227. If you made this a habit every time you had a month with three paychecks, it could save you thousands of dollars over that thirty year period.
Once you’ve covered your monthly expenses, you may want to set aside some extra savings for your emergency fund or long-term goals. To boost your savings strategy, you can put that money in a high-yield savings account or a high-yield certificate of deposit (CD) to earn compound interest on that balance over time.
Many banks and credit unions offer high-yield savings accounts and CDs with rates as high as 4%. That is well above the national average savings interest rate of 0.42%.
Having an extra salary in a month can give you a nice buffer within your monthly budget. Before you make your direct deposit, though, think carefully about where that money will have the biggest impact on your personal finances.
