The Good and the Bad of Leap Year

Today is February 29th, leap day. The day that happens only once every four years. I was thinking about leap year the other day and I thought up some good things and bad things about leap year related to your finances.

The Good

  1. If you rent, you get an extra day in your monthly rent compared to other Februaries.
  2. The money in your bank account has an extra day of interest.
  3. For those who are paid by the hour, you get another workday in the month to earn some money.
  4. For those who like to procrastinate, you get an extra day to file your income taxes!

The Bad

  1. For those of you who paying off your debt, you get to be in debt a day longer. 😦
  2. If you get paid at the end or beginning of the month you have to wait a day longer until you get your paycheck.
  3. Salaried workers have to work an extra day and get paid the same amount.
  4. If you base your budget on a normal 28 day February, then you have to stretch your budget one more day.

So that is what I have come up with as the good and the bad of leap year. Am I missing anything?

Also use today as a reminder to check your finances more than once every four years. You need to check your net worth more than once every four years to see where you are. Figure out where your money is going each month by doing a budget. Set goals and dreams for your family. But the main thing I want to get across to you this leap year is to care enough to pay attention to your finances. You have all the tools so there is no excuse not to get your finances in order!

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About Jon White

Giving people hope and seeing them win with their finances is something I have a strong passion for. Because of this passion I started JW’s Financial Coaching in the summer of 2010. Financial coaching has allowed me to combine my passions of finances, teaching, and helping others by helping people get on the right track financially. I'm interested in hearing your story so please do not hesitate to interact with me through social media.
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