If you get a $1500 paycheck every 15 days, as opposed to a $3000 paycheck every 30 days, then you earn 15 days of interest on $1500 that you would not otherwise earn. At Ally bank, that could be 1.85% in savings accounts. This two-paycheck cycle would repeat 12 times a year, so for half the year you earn interest you would not otherwise earn, totaling to roughly (compounding negligible) 1500*.0185/2= $14.
If you assumed you could get 9% in the stock market, the time value would be $68.