I learned some interesting things when I was researching the Roth TSP pay snafu in February. First, I learned that a lot of my friend don't contribute to Roth TSP, which surprised me. Second, I learned that a surprising number of my military friends are taking advantage of the once-a-month pay option. Who knew?
I recently ran across some information at the Defense Finance and Accounting Service (DFAS) website that state that the monthly pay option is only available to Air Force and Army personnel. However, one of my Navy friends reports that her husband is on the monthly pay plan, as well. I am befuddled as to how he organized this, and I am a little bit jealous.
This got me thinking about the reasons why some people prefer the monthly option and others prefer the twice monthly pay schedule. I can see all sorts of arguments for both sides, even though I prefer the idea of monthly pay.
Then, a recent comment mentioned that the services had once considered switching to a every-other-week, 26 pay periods per year plan. I think that sounds awful, but apparently the idea is popular with a lot of folks.
So, I am curious: Which option do you currently use? What would you do if you had any possible choice? Why, and why not? What would you think if the current system were changed?
Here are my answers: My husband is paid twice a month. If I could choose, he would be paid once a month, but semi-monthly is fine. This is because our largest expenses (housing) are billed monthly. I'd also prefer to budget food on a monthly basis, because the current system can challenge people when one pay period might be 19 days and then another might be 12. I think I would have a hard time adjusting if our pay came every two weeks, but I would work it out eventually. None of it is really awful as long as the pay is still coming in.
I really look forward to your comments. I love learning more about how different people see issues in different ways, and exploring all sides of a conversation.