For employees and payroll departments alike, understanding the remaining biweekly pay periods in 2024 is essential for financial planning, tax management, and budgeting. A biweekly pay schedule means that workers receive a paycheck every two weeks, totaling 26 pay periods in most years. However, depending on when the first paycheck of the year falls, some years can have 27 pay periods. Knowing how many paychecks remain in 2024 and when they will be distributed helps individuals and organizations prepare effectively for expenses, savings, and payroll operations.
Understanding the Biweekly Pay Schedule
What Is a Biweekly Pay Period?
A biweekly pay period refers to a recurring two-week span in which employees earn their wages, usually ending on a Friday or another consistent day of the week. Employees are paid for those two weeks on a scheduled payday, typically one or several days after the period ends. In most years, this results in 26 paychecks, but leap years or specific start dates can sometimes cause a 27th pay period to appear.
Why Biweekly Pay Is Common
Many employers opt for a biweekly pay schedule because it strikes a balance between monthly and weekly payroll. It offers employees more frequent income than monthly pay, while saving administrative costs compared to weekly pay. In 2024, a biweekly pay calendar is especially helpful for forecasting net income and planning retirement contributions, insurance premiums, and other deductions.
Biweekly Pay Periods Remaining in 2024
Assuming a Standard Friday Pay Schedule
For companies that follow a biweekly pay schedule with paydays falling every other Friday, and assuming the first paycheck of 2024 was issued on January 5, the remaining biweekly pay periods for 2024 are as follows:
- July 19, 2024
- August 2, 2024
- August 16, 2024
- August 30, 2024
- September 13, 2024
- September 27, 2024
- October 11, 2024
- October 25, 2024
- November 8, 2024
- November 22, 2024
- December 6, 2024
- December 20, 2024
This list shows that as of mid-July, there are 12 remaining biweekly pay periods left in the calendar year. If your employer follows a different payday, such as every other Thursday or Monday, the specific dates may vary slightly, though the total number of pay periods will generally be the same.
Implications of Remaining Biweekly Paychecks
Budget Planning
Knowing the exact number of paychecks left in the year can help employees align their budget goals. Whether you’re saving for year-end holidays, repaying debt, or managing day-to-day living expenses, recognizing that you have 12 more paychecks in 2024 lets you plan with confidence and precision.
Tax and Deduction Considerations
Pay periods influence how taxes, retirement contributions, and benefits are withheld. For example, if you’re trying to max out a 401(k) contribution before the end of the year, dividing your target by the number of pay periods remaining helps set the right per-paycheck contribution amount.
Similarly, some benefits like health insurance premiums are calculated based on a per-paycheck basis. If 2024 had included a 27th pay period (which it does not for most standard Friday pay schedules), some deductions might not be taken during that final paycheck, affecting take-home pay.
Extra Paycheck Months
Months With Three Paychecks
In a biweekly schedule, most months contain two paydays. However, because 26 paychecks are spread over 12 months, two of those months will contain three paychecks. For 2024, the months with three biweekly paychecks (based on a Friday schedule) are:
- March 2024
- August 2024
This occurrence presents an opportunity to build savings or pay off additional debt since monthly expenses typically remain constant while income temporarily increases during these months. For individuals on tight budgets, this ‘extra paycheck’ can provide welcome relief.
Employer Considerations for Remaining Pay Periods
Payroll Processing
Payroll departments must prepare accurate schedules for processing wages, tax withholdings, and compliance reporting. Knowing the remaining pay periods in 2024 allows companies to align their payroll calendar with holidays, accounting deadlines, and employee expectations. Any inconsistencies or misalignments can lead to delays in salary payments or incorrect withholding amounts.
Year-End Planning
Year-end reporting, such as issuing W-2 forms in the United States or other income statements globally, depends on the accurate tracking of gross income, tax deductions, and contributions. The remaining biweekly periods also impact planning for annual bonuses or performance-based incentives, which are often distributed near the end of the year.
Common Questions About Biweekly Pay Periods
Do all employees have the same number of paychecks in 2024?
Not necessarily. While most employees on a biweekly schedule will receive 26 paychecks, those hired mid-year or whose employers started their payroll cycle on different days may experience a different number. Additionally, hourly workers might receive variable pay even on a fixed schedule, depending on their hours worked.
What if payday falls on a holiday?
If a payday falls on a public holiday or a weekend, most employers will either issue paychecks on the preceding business day or deposit them electronically according to direct deposit schedules. Companies must communicate these changes clearly to avoid confusion or hardship for employees.
How do deductions work in a three-paycheck month?
Some deductions, like health insurance or union dues, are taken only twice per month, even on a biweekly schedule. That means in a month with three paychecks, the third paycheck may have fewer deductions, resulting in higher take-home pay. However, this varies by employer, so it’s wise to confirm with your HR or payroll team.
Tracking Remaining Pay Periods
Tools and Resources
Many employees and HR departments use digital calendars, payroll software, or mobile apps to track remaining pay periods. These tools can automate reminders for paycheck dates, set budgeting goals, and estimate net income over the remainder of the year. It’s also helpful to manually mark paydays on a physical or digital calendar for quick reference.
Communicating With Your Employer
If you’re unsure about your specific pay schedule, reach out to your payroll department. Understanding your exact schedule helps you make better financial decisions, avoid overdrafts, and ensure your benefits are being withheld appropriately.
As of July 2024, there are 12 remaining biweekly pay periods left in the year for those following a standard Friday pay schedule. This knowledge is key for employees who want to manage their money wisely and for employers preparing payroll and financial reports. Whether you’re budgeting for the holidays or targeting financial goals, mapping out each of your upcoming paychecks can lead to smarter financial choices and greater peace of mind. Biweekly pay remains one of the most predictable and manageable income arrangements knowing what’s left in the calendar year only enhances its benefits.