For some folks, Leap Day is the rare chance to celebrate their birthday on the date it actually happened. For others, February 29 is a mere curiosity.
But if you're planning to make money moves in 2024, Leap Day can have some implications for your finances. Here are some fun financial facts about the extra day you might not know.
If you’re over 50, take advantage of massive discounts and financial resources
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.
The extra day boosts U.S. GDP
Having another day in the year actually contributes quite a chunk of cash to the U.S. gross domestic product (GDP).
In 2016, CNBC noted that having an extra day in the year boosted U.S. GDP by about $50 billion. That was more than the annual GDP of several states.
Some employers get a free workday from employees
If you work on salary, Leap Day can be a bit of a bummer. After all, you're giving your employer an extra day of work without your annual salary reflecting an extra day of pay.
Employers likely won't adjust your annual salary for the extra day, so you just have to accept the freebie you are giving them with good cheer.
Hourly workers get more money
On the other hand, you might pick up some extra cash if you’re an hourly worker.
Working that extra day means another day on the calendar for you to earn income. Perhaps that additional cash will help you save more this year.
Resolve $10,000 or more of your debt
Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.
National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1
How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.
Some of your costs go up for the year
This month's extra day means an extra 24 hours when you'll use electricity, natural gas, and water.
You may not notice too much of a change in your utility bill after just one day, but be aware that it might be slightly higher than it would be during a typical February.
Leap Day also means you have an extra day to feed yourself, so your food costs might be slightly higher.
It probably doesn't mean much for your stocks
If history is any guide, Leap Day won’t have much of an impact on your stock returns.
The 10 Leap Days leading up to 2016 were split, with five of those days seeing the market increase and five seeing it decline, according to CNBC.
The tie was broken in 2016 when stocks fell on Feb. 29. The last Leap Day was in 2020. That Feb. 29 fell on a Saturday when markets were closed.
Trending Stories
You get an extra free day for things that are billed at the end of the month
If you have a bill normally due on the last day of the month, you'll get an extra day to pay it compared to most Februarys.
So, you might have a little more breathing room for bills for your monthly gym membership or monthly parking. You might also get an extra day to pay if you subscribe month by month to some streaming services, for example.
You get an extra day to pay bills due on March 1
In addition to getting more time to pay bills due at the end of February, Leap Day gives you an extra day before March 1 rolls around.
So, if you have bills that are always due on the first day of the month — such as rent — Leap Day will also help you there.
It may be cheaper to plan a wedding
Some countries — including Greece, Italy, and Spain — have traditionally viewed a year with a Leap Day as bad luck. So, couples have been more reluctant to marry in those years.
That could be good news for you if you want a destination wedding in one of those countries, as it might not be as competitive or expensive to celebrate.
Here’s another Leap Day twist associated with marriage: It’s a tradition in some European countries (notably Ireland) for women to propose marriage to their partners on Leap Day.
Remember, it’s still February
While Leap Day does give you an extra day in February to get ahead financially, the month remains the shortest of the year.
That means whether it's Leap Day or not, you'll still pay more for things such as rent per day during February than you would during other months.
Earn cash back on everyday purchases with this rare account
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2
With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!
This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.
Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.
Bottom line
Leap Day can be a fun thing to celebrate. For example, those who work an hourly job might get some joy from knowing they have an extra day to boost their income.
Whether you celebrate Leap Day or ignore it, make 2024 the year you crush your debts and get your financial house in order so you will be better positioned in 2025 and beyond.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Subscribe Today
Want extra-cash moves to come right to you?
Stop browsing endlessly. Get proven ways to earn pocket money, help cover rent, and crush your debt — sent to your inbox daily.