Pay Stubs Archives - MoneyWatch101

Did you ever think back and calculate what is the most you made in a day? Silly things like this can make financial matters into a fun game. Take a second and think back to what day in your whole life when you raked in the most dollars. Obviously this project will exclude windfalls like, sale of a home, inheritances, insurance payouts, and lottery winnings. Also regularly scheduled paychecks and bonus money do not count because it is usually divided into a specific time frame, thus not qualifying for a daily amount. In addition to the exclusions above also add in tax return money.

This game is only calculated by what you earned from working your blood sweat and tears to the ground. It can consist of 1, 2, or 3+ jobs or side hustles. If for example you made 3k in a week then you can take that amount and divide it by the number of work days to give you a daily figure.

It could have occurred in the year 1999 or 2013, the point I want to communicate with all of you is to remember that fun day and try to replicate or top the massive amount of dollar bills you placed in your pocket. If you set goals you will eventually exceed them, so this project will keep the big amount fresh in your mind and you will hopefully look to top it everyday from now on. Maybe next time we can touch on; What is the most you ever made in a week or month or year. Now after this post I will keep a eye on all the income sources to try and top this figure. See below for my figure.

What is the Most you made in a Day:

– 580 is the most I’ve made

I hope you can find the objective of this money exercise because we all can get motivation by this type of game. My figure consists of my day job money, sale of a sneaker, and a part-time job. Just imagine making that every work day. I took out my handy little calculator and that is about 11K a month or 140K a year. That is some serious paper right there. I have a little sense of what type of money big wig executives make. Guys you can also include any dividends or interest money you made in the stock market. Maybe at the end of December I can calculate my daily money average I made for 2013. I am hoping my website can get me some good side income to push my average up. I know some of you are going to share some fun and exciting amounts, especially all the night owls who do not sleep to make those dollars.

When you hustle you will reap great results – Rich Uncle EL

Comment on what is the most you made in a day?

Rich Uncle EL

I recently heard a story of a young person who after working for many years invests a percentage of pay in a 401K, but after all those years never actually cared to look at the pay stub to see how much money was exiting every pay period. Can you believe this? I look at every pay stub and analyze it to a tee. What did I want to find out? Basically to see all the amounts taken away by the government and how much is being deposited by my employer to my 401K, and I can not fathom a person not checking this or even knowing the amount on a monthly basis. This is the premise behind the What you Dont Know topic in the title.

If this is very shocking to all of you as it was to me when I heard the audacity going on in some people’s minds. But can you blame them for not caring or not being on top of this aspect of money in their life. Unfortunately yes they are partially to blame if for years the employer was not contributing the exact amount that should have been deducted from said person’s pay stub into retirement accounts. Maybe hundreds or thousands of dollars left in the laps of the employer because people were too lazy to check a simple pay stub. Do you think the employer will fix the issue voluntarily? Maybe but I wouldn’t leave it in their hands.

There has been countless stories of employer financial mismanagement where the pay stub amounts were incorrect or the stories of retirement money not being deposited. Granted some of those stories involve simple easy to fix payroll errors, but if the employee is not aware of it who will catch those errors? It is a simple fact of life we cannot disregard because of all the other things we have to deal with in life.

Simple Pay stub Research:

-Check your exemptions on the pay stub

-Multiply the weekly or bi-weekly amount and make sure it adds up to annual income.

-See how much is going to the government in taxes

-See how much is going to your retirement accounts.

-Analyze the difference between gross and net ( Amount should be equal to tax deductions and 401K contributions)

-Make sure your Social Security number is accurate. ( Social Security Retirement figures depend on this)

The simple easy check list above will help you avoid major errors with your money later. I know it can be hard to take time out for things that might not be of interest to you, but pay stubs should always be analyzed with every new job you get.

What you Don’t Know can hurt you in the long run.

Become Informed with Finances.

Simple Pay stub Research:

What you Don’t Know can hurt you in the long run.

Comment and let us know if you have caught any errors on your pay stub?

RichUncle EL