Like most things in life, calculating the number of weeks isn’t as straightforward as it should be. With an inconvenient average of 4.34 weeks in a month, you’re probably wondering what months have five weeks.

Look no further. Welcome to the glorious and complicated world of five paycheck months.

For most employees, five paychecks in one month can be the key to hitting your financial goals. For employers, extra paycheck months can be more complex, leading to financial strain if unprepared.

Did you know that in the year 2021, there were 53 Fridays? The change in the number of Fridays in a year is due to the misalignment between the calendar week and the solar year. Unfortunately (or fortunately, depending on how you look at it), pay periods and payroll schedules will fluctuate because of this misalignment.

How do months with five paychecks work? If you receive weekly paychecks, you’ll have an extra payment compared to your typical four paychecks. For most, these payments will occur on Fridays (as it’s the most common payday).

The question is, which months have five weeks in them? We did the research to account for leap years, pay frequency, and a slew of other conditions to help you deal with these confusing outliers. Read on for a full breakdown of which months have five weeks in the upcoming years. 

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Which months will have an extra paycheck?

Looking for a quick answer to this question? We won’t bore you with a long answer, here is a summary of the months with five Fridays in the upcoming years:

  • 2024: March, May, August, November 
  • 2025: January, May, August, October 
  • 2026: January, May, July, October 
  • 2027: January, April, July, October, December 
  • 2028: March, June, September, December 
  • 2029: March, June, August, November

To make the most of these months with an extra Friday, let’s look deeper into this issue and learn how both employees and employers can plan their schedules accordingly.

Five paycheck months from 2024-2029

Get ready for some financial boosts. We’ve created a visual representation of each extra paycheck month in the Gregorian calendar year through 2029. Bookmark this page or save these graphics so you can reference them next time you’re working on your long-term budget.

Here are the months with extra paychecks from 2024 to 2029.

How many months will have 5 paycheck weeks in 2024?

Five paycheck months in 2024

In 2024, the months with five weeks are March, May, August, and November.

How many months will have 5 weeks in 2025?

Five paycheck months in 2025

In 2025, you’ll get extra paychecks in four months: January, May, August, and October.  

How many months will have 5 weeks in 2026?

Five paycheck months in 2026

Get ready to receive five extra paychecks in 2026, as January, May, July, and October each have five Fridays. 

How many months will have 5 weeks in 2027?

Five paycheck months in 2027

Like 2021, 2027 is a rare year where there are 53 Fridays. Instead of the usual four months, you’ll get five extra paychecks. January, April, July, October, and December are the five months to circle on your calendar.

How many months will have 5 weeks in 2028?

Five paycheck months in 2028

In 2028, four months will have five Fridays: March, June, September, and December.

How many months will have 5 weeks in 2029?

Five paycheck months in 2029

Finally, in 2029, you’ll get extra paychecks in March, June, August, and November.

Why a 5-week month matters for your business

A five-week month can have meaningful implications for your business. These special months impact financial planning, cash flow, and overall operations. Luckily, you’re thinking ahead and can plan for these issues before they arise.

Here’s why a five-week month matters:

  • Cash flow management: Managing monthly cash flow needed becomes especially critical during a five-week month. The extended period means businesses may need to bridge the gap between income and expenses. This might require additional working capital or careful cash flow management to avoid liquidity issues.
  • Payroll: For businesses that pay employees weekly or biweekly, a five-week month can lead to an extra payroll cycle, impacting labor costs. Employers must plan for this additional expense and use a payroll tool to ensure it aligns with their budget.
  • Sales and revenue: Depending on the nature of the business, sales and revenue patterns may fluctuate during a five-week month. Understanding these variations is crucial for accurate financial forecasting and adjusting sales strategies to accommodate the extended operating period.
  • Production and inventory: Businesses involved in production or retail may need to adjust production schedules and inventory management to meet increased demand during the extended month.

Understanding the unique challenges and opportunities a five-week month presents allows businesses to proactively address financial and operational aspects for sustainable growth. 

How to handle extra paychecks as an employer

For employers, handling extra paychecks months requires thoughtful planning to ensure financial stability for the company. 

Ensure compliance with labor laws and regulations regarding salary deductions. Some jurisdictions have specific rules about the timing and amount of deductions, so adhering to these regulations is essential.

  • Fair Labor Standards Act (FLSA) sets the national minimum wage and overtime rates, payroll recordkeeping requirements, and child labor laws.
  • Federal Insurance Contributions Act (FICA) mandates Social Security and Medicare payroll taxes to fund these federal programs. Employees need to be aware of these potential increases in FICA taxes during extra paycheck months. Employers pay half of this tax and should also be aware of this increase.

Budgeting

No matter what tax bracket you’re in, it’s never a bad idea to start saving.
Planning and creating a budget for the entire year that accounts for the months with extra checks is crucial. Allocate the additional income toward a savings account, credit card debt repayment, or specific financial goals.

Use software to automate the process

Carefully tracking time and being aware of extra paychecks doesn’t have to be a manual process. A time tracking system with payroll integrations is the best way to automate this process. At Hubstaff, we’ve saved money on payroll for our distributed team using our software.

Payroll tax considerations

It’s easy to underestimate how much taxes are affected by payroll anomalies. Evaluate potential tax implications of five paycheck months. If needed, consult professionals for guidance on how varying payroll will impact taxes for your team. You’ll also have to take into account tax considerations like:

  • State income tax
  • Federal income tax
  • Local income taxes

Payroll adjustments

If feasible, adjust withholding amounts to distribute extra money evenly. This ensures that the additional earnings from extra payroll weeks don’t lead to a disproportionate tax impact. This makes for a smoother financial experience for employees and employers.

By proactively addressing payroll issues, employers can promote transparency, support employees in managing their finances, and maintain a positive work environment. 

How a 5-week month impacts different payroll schedules

Five paycheck months only happen for employees on a weekly payroll schedule. Those extra weeks in certain months affect each payroll schedule differently. Here’s a breakdown of what this will look like for the most common payroll schedules.

  • If you get paid bi-weekly: As the name suggests, bi-weekly payroll means that employees get paid every two weeks. But, in the event of a five-week month, sometimes employees will receive three paychecks. This happens a few months a year when one’s payday coincides with the first Friday of a month with five Fridays. If your first payday falls on the second Friday of those months, you won’t receive a third paycheck.
  • If you get paid bi-monthly: Employees will receive two paychecks each month on a bi-weekly schedule. A five-week month means employees work more days. To accommodate for this, employees will still receive their usual two paychecks, but one or both of their paychecks will be larger.
  • If you get paid monthly: The impact is subtler for those on a bi-monthly or monthly pay schedule. While your monthly income remains consistent, you may need to stretch it further to cover the additional week’s regular expenses.

There are undeniable benefits to each payroll schedule. Extra payroll months or weeks are just one piece of this complicated financial pie. For those who get paid weekly, let’s examine why this matters and what you can do during months with five paychecks.

Why a 5-week month matters as an employee

A five-week month can significantly impact your personal finance goals. Sure, you have an extra paycheck, but with an additional week, monthly expenses like utilities, bills, and groceries may also increase.

Savvy spenders know this surplus can be leveraged for various purposes, such as bolstering savings, paying debts, or investing in personal and professional development.

While extra paycheck months feel like they bring in extra cash, it’s essential to understand that this doesn’t necessarily result in higher net pay, as increased wages may also lead to higher deductions for taxes and other withholdings.

How to handle the 5 paycheck months

Months with extra paychecks can feel like bonus money hitting your bank account — but be wary. As mentioned above, these extra paychecks aren’t an increase to your annual earnings. Here are some smart ways to make the most of that extra income while keeping your financial game strong.

  • Budgeting: Plan and create a budget for the entire year, considering the months with extra paychecks. Allocate the additional income toward a savings account, credit card debt repayment, or specific financial goals.
  • Financial goals: Use the extra pay to make progress on financial goals. Plan ahead by contributing to your retirement account, building an emergency fund, paying down high-interest debt, saving for potential car maintenance, or contributing to long-term savings.
  • Debt reduction: If you have outstanding debts, use the extra paycheck to make additional payments. Accelerating debt repayment can save on interest and expedite the path to financial freedom.
  • Financial review: Use extra paycheck months to review your overall financial situation. Assess your financial goals, adjust your monthly budget as needed, and ensure you’re on track for long-term financial success.

By approaching extra paycheck months with a strategic financial mindset, you can make the most of the additional income and enhance your overall financial well-being.

Key takeaways

Mapping out your finances during months with extra paychecks empowers employees to save more, bolster emergency funds, and contribute to their retirement savings. For business owners, strategic planning for five-week months is critical for effective cash flow management, aligning payroll schedules, meeting sales goals, and maintaining optimal inventory levels. 

Leveraging the advantage of months with extra funds is not just about financial planning; it’s a proactive step towards achieving personal and professional financial goals. 

Whether you’re an employee looking to save or a business owner managing cash flow, these strategic moves can significantly impact your financial success. Stay financially savvy, spend money wisely, and make those extra paycheck months work for you.

Category: Management, Workforce Management