Why should I give them an interest free loan?

I teach and am paid on a ten month calendar. Apparently some people can’t handle this, and wish to be paid on a twelve month calendar. Of course the school isn’t going to give us our pay before we work, so they are generously offering to hang on to our money. They will dole it out every month, so we don’t have the onerous task of saving two-twelfths of each paycheck for the two months we aren’t paid. I realize interest rates are terribly low, but I don’t want to give away that small amount. I also want access to my money as soon as possible, so I can spend it or invest it.

I would be more sympathetic to people who are not well educated, but we are supposed to have post graduate degrees. Sadly, there will be teachers who need this convenience because they are not responsible enough to save for the two months they aren’t paid. I certainly hope there is no one who does it because they cannot calculate how much they are supposed to save.



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