Yes, in many cases, new research says. Workers who get paid daily, whether through their normal salary arrangement or by accessing their wages in advance through an app, often spend more money than workers who receive their salaries in the more traditional one- and two-week installments.
The rise of new personal-finance technology and the gig economy have meant that workers increasingly can access their wages more frequently. Some fintech apps such as DailyPay—whose customers include large corporations like
Big Lots Inc.
—make it possible to get paid daily, though such apps often charge fees for this service. Some gig-economy companies also give workers the option to be paid daily. Uber, for instance, gives its workers the option of being paid up to five times a day.
Advance access to one’s salary and daily salary payments are often…
