Banks that advertise getting your paycheck 2 days early, what’s the benefit to this?

Question

Instead of Friday’s being pay day now Wednesday’s are. It seems like the same thing to me.

In: Economics

Answer 1

Time-value of money is a real thing.

2 days early may not be a huge deal, but it beats 2 days late.

Answer 2

It is the same. It’s psychological marketing. I forget the actual name. People who live paycheck to paycheck usually can’t wait to payday. By marketing that you’ll get it 2 days early without thinking people assume they benefit from it when really it’s exactly the same situation.