Over 93 percent of Americans get paid via direct deposit.
This is super convenient for them (who want to wait in line to cash a check at the bank?). However, it can also present challenges if you don’t receive a pay stub every time you get paid.
If this is the case for you, consider generating your own pay stubs. Listed below are 5 benefits you can enjoy by doing so.
1. Rent an Apartment
Often, when you’re applying to rent an apartment, you need to provide proof of income.
If you get paid by direct deposit, you might not have this information readily available. Generating your own pay stubs ensures you have the documents you need to verify that you can afford the rent.
2. Stay on Top of Your Earnings
Generating pay stubs also makes it easier for you to manage your finances and keep track of your earnings.
When payment information is right in front of you in an easy-to-read pay stub, you’ll be able to pick up on potential issues and correct them sooner. You may also be able to budget better since you have a clearer idea of what you’re bringing in.
3. Qualify for Loans
You can also create pay stubs to apply for an auto loan more easily. When you generate your own pay stubs, you can present them at the bank or car dealership and get approved for a loan faster.
4. Pay Employees Faster
If you run a business, you definitely ought to consider generating pay stubs yourself. This helps you to get your employees paid faster since you can print the stubs right there in the office, rather than waiting for them to be mailed to the employees’ houses.
5. Avoid Employee Payment Errors
More than 82 million workers have experienced paycheck errors at some point in their lives.
When you use a pay stub generator that comes with an accurate pay stub calculator, you’re less likely to make errors and pay your employees an incorrect amount. This makes life simpler for everyone at the company, including you.
How to Make Your Own Pay Stubs
You get to enjoy all these benefits when you make your own pay stubs. As a bonus, it’s also easy to make pay stubs online.
There are lots of tools out there (many of them are free) that you can use to create pay stubs for any purpose. When looking for a pay stub generator, consider the following:
- Ease of use
- Template options
- Customer support
Consider whether or not the generator provides a pay stub example, too. This gives you a chance to see what the pay stub will look like and ensure it doesn’t leave out any important information.
Start Generating Pay Stubs Today
As you can see, there are lots of reasons to make pay stubs yourself. If you want to experience these benefits, follow the tips outlined above and start using a simple pay stub creator today.
Do you need more help managing your money or making plans for the future? Check out some of the other resources on our site today.