Payment frequency refers to how often payments are made in a financial agreement. Common payment frequencies include weekly, bi-weekly, monthly, quarterly, and annually. The choice of payment frequency can affect budgeting and cash flow for both individuals and businesses. For example, a salary paid monthly provides a larger sum at once, while a contractor paid bi-weekly receives smaller amounts more frequently. Understanding payment frequency is essential for managing expenses and ensuring timely payments in various financial arrangements, such as loans, rent, or subscriptions.