Is there a way to have a date field update automatically every Friday?

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I have an employee's app that has all employee records and we are setting up a way to do timesheet's along with it. I have everything pretty much going except to make thing's easier, on our "Timesheet" app we have a field "Pay Date", right now that field is set as a date field. Is there any way that I can make it a formula-date field and have it automatically update the date to the next coming up Friday every Friday night at midnight (going into Saturday). 

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Will this date be the Friday of the week of Today?  Or the Friday of the week that the time was worked.

But in any case, you can use the following and insert the correct Anchor Date.

var date AnchorDate = Today();

FirstDayOfWeek($AnchorDate) + Days(5)