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  • StubBuilder
  • Mar 25, 2020

What to do with your first check stubs online?

It is likely to get overwhelmed seeing check stubs online, especially when it is your first time. This usually happens when a college graduate receives his first salary. That feeling of getting paid for the first time cannot be explained.

Why anyone can make real check stubs online?

As you get indulged in this feeling, you should also be conscious of what to do with your printable pay stubs. Before thinking about where to spend this amount, give some stress on saving habits and start preparing for eventual retirement. Developing good money-management habits will make you responsible.

4 Things to think upon receiving Paycheck Stub Online

As you receive paycheck stub online, the following things should click your mind.

  1. Clear Debts First

Edward Kohlhepp, Jr. has this to suggest “If you’re a recent grad with college debt, dedicate a large portion of your earnings toward eliminating the debt”.

In case, if you were not financially strong at the time of graduation then you have debts to pay. Don’t delay paying debts. The more you delay, the longer you will feel burdened. Managing bills is a great way to track and ensure that your money is spent right.

Believe it or not, planning has no substitute. You can invest somewhere or pass on money only if you know how much comes in and where it is spent.

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  1. Tax Withholding

You should know that your employer is required to withhold money from a paycheck for taxes but employees have some flexibility. As a concerned employee, you can reach out to the HR Department and ask for explanations on each exemption. After all, you have all the rights to know the impact of amounts that are being deducted from your paycheck.

Besides knowing the tax deductions, you should know that withholding paycheck amounts may drive you to an expensive tax bill later. So make sure to strike a balance to have the adequate cash flow to pay off bills and manage monthly expenses too.

It takes no time to see circumstances changing and so you should ask your accountant or tax professional before you make any important decision.

  1. Health Insurance

Health insurance is deducted from paychecks by default and you are well aware of this if you have known check stubs generator closely. Don’t be a person who only checks the gross and net pay. Learn to evaluate healthcare deductions to plan for health insurance.

Depending on your health conditions, you can choose the plan that works best for you. Do you know? FSA (Flexible Spending Amount) is a great option to save some tax-free for medical expenses.

  1. Retirement Fund

You may not be able to work with the same energy and efficiency 30 years later and so it is mandatory to start saving for the post-retirement period. The ideal percentage of retirement fund sparing is 10% of your current salary.

The bottom line is, don’t just prepare for today but think of tomorrow i.e. retirement period too.

It seems like you have had a good dose of ‘to-dos’ as you get first printable pay stubs on hand. Make one now!