Basic IncomeBasic Income
BonusBonus
CommissionCommission
Direct DepositDirect Deposit
Earned IncomeEarned Income
Exempt vs. Non-Exempt StatusExempt vs. Non-Exempt Status
Fringe BenefitsFringe Benefits
Gross IncomeGross Income
Gross PayGross Pay
Incentive PayIncentive Pay
Living WageLiving Wage
Merit IncreaseMerit Increase
Net IncomeNet Income
Net PayNet Pay
Pay FrequencyPay Frequency
Pay StubPay Stub
Payroll DeductionPayroll Deduction
Profit SharingProfit Sharing
Salary NegotiationSalary Negotiation
Salary SlipSalary Slip
Side HustleSide Hustle
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Pay Frequency

Definition

How often you get paid, such as weekly, bi-weekly, or monthly, which helps you plan your budget.

What to consider

  • Know how often you get paid to align your bills accordingly.
  • Adjust your budget if your pay schedule changes.
  • Use it to plan when to make major purchases or investments.

Real world scenarios

  • Denise adjusts her weekly pay cycle to match bill deadlines, preventing missed payments and late fees.
  • Ben’s budget accounts for a biweekly paycheck, ensuring he splits rent and other expenses accordingly every two weeks.
  • Switching to a monthly pay schedule leads Nora to plan each budget category carefully, avoiding running out of funds mid-month.

Related terms

Commission
Exempt vs. Non-Exempt Status
Salary Negotiation
Gross Income
Incentive Pay

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