Why your monthly income is two numbers
If you're paid weekly or every two weeks, your paycheques don't line up with calendar months. Most months bring the same number of paycheques, but a few bring one more. So you have a normal month (what most months bring in) and a yearly average (everything spread evenly).
Budget on the normal month. Bills like rent arrive every month, so a plan built on the average comes up short in most months. The extra-paycheque months then become a bonus you can save, put toward debt, or use for a big yearly bill.
Twice a month vs every two weeks
They sound alike but aren't. Twice a month (semi-monthly) means 24 paycheques, usually on the 15th and the last day, with no extra months. Every two weeks (biweekly) means 26 paycheques, with two three-paycheque months each year.
Want the full walkthrough? Read How to Budget With a Biweekly Paycheque in Canada.
Frequently asked questions
How do I convert a biweekly paycheque to monthly income?
Multiply one paycheque by 26 and divide by 12 for the yearly average. But for budgeting, use two paycheques: that's what most months actually bring in. The calculator shows both.
Which months have three paycheques?
If you're paid every two weeks, two months a year usually bring a third paycheque (occasionally three, in years with 27 paydays). Enter your next payday and the calculator lists exactly which months they are.
How many paycheques are in a year?
Weekly: 52 (sometimes 53). Every two weeks: 26 (sometimes 27). Twice a month: 24. Monthly: 12.
Is my information saved or sent anywhere?
No. The calculator runs entirely in your browser. Nothing you type is stored or sent to us.