How to Calculate How Many Pay Stubs is 30 Days Worth

Budgeting your hard-earned money is easy if you know how to manage your salary and prepare your expenses each month. A strategic way to do that involves figuring out just what 30 days' worth of pay stubs looks like.

Dividing your hard-earned money for 30 days can be exasperating, especially when you begin itemizing your daily expenditures such as transportation and food, utility bills, and basic necessities, then compare your expenses with your monthly earnings.

Read on to get a better grasp of what 30 days of pay stubs mean for your budget plan and how you can adjust your expenses for each type of payroll cycle.

Key Takeaways

• The total number of pay stubs issued within 30 days depends on the pay schedule used by a company or business.
• A monthly pay schedule yields one pay stub, and a semi-monthly pay schedule generates two. There are 2.14 pay stubs in a bi-weekly pay schedule, 4.29 in a weekly pay period, and 30 in a daily pay cycle.
• For employees paid irregularly, figuring out how many pay stubs are equivalent to 30 days will not yield an exact and consistent number.

5 Different Types of Payroll Schedules

To understand how many pay stubs fit into 30 days, you first need to know the different payroll schedules used by most employers, and the number of pay stubs may vary for each.

#1. Monthly Payroll

A monthly payroll consists of 12 pay cycles per year. Employers who follow this pay schedule disburse employee pay stubs once every month.

On average, paying employees on a monthly basis yields a total of 173.33 work hours. Out of all the different pay cycles that are commonly implemented in most US-based companies, monthly payroll is the most cost-effective and easiest to manage.

In contrast, not all employees are huge fans of getting paid once a month, considering the challenge of having to regulate their daily expenditures for an entire month. This proves to be quite a challenge for workers who earn just enough for their basic necessities.

#2. Bi-Monthly Payroll

Also referred to as a semi-monthly payroll, a bi-monthly payroll has 24 annual pay cycles, where employees are paid twice a month.

Since there are two pay dates each month in a bi-monthly pay cycle, employees are paid either on the 1st and 15th or on the 15th and the last day of the month.

Semi-monthly pay cycles are great for exempt or salaried employees, but not for hourly workers. Calculating overtime compensation is more challenging because of the possibility of overtime hours spilling over to the next pay period.

#3. Bi-weekly Payroll

In a bi-weekly pay schedule, employees receive a total of 26 pay stubs annually. They also get paid every other week, often every other Friday.

Small businesses and companies employing hourly employees are more inclined to adopt a bi-weekly payroll because calculating overtime hours is simpler, and preparing employee paychecks is more manageable.

Bi-weekly pay cycles also increase the possibility of employees receiving three paychecks in some months. However, when pay periods overlap, it can cause confusion for the accounting department when calculating employees’ work hours, deductions, and net salary.

#4. Weekly Payroll

A weekly payroll consists of 52 pay cycles or 52 paychecks in a year. Employees paid weekly get their pay slips at the end of each week, with at least 40 hours of work reflected on their gross and net pay.

This pay schedule is also ideal for hourly employees and employees who follow an irregular work schedule.

For employees, earning their weekly pay at the end of each week helps them balance their expenses better since they do not need to stretch their budget for a couple of weeks until the next salary day.

Paying employees on a weekly basis tends to be more costly and work-intensive for employers since they have to prepare payroll four times each month.

#5. Daily Payroll

Out of all the different types of pay cycles, a daily payroll is the most expensive and impractical for businesses. This means employers must prepare pay stubs every single day.

For that matter, only a select number of industries implement a daily payroll system. These industries include construction and delivery services. Workers hired to complete temporary jobs are also usually paid daily or for the duration of work hours dedicated to completing their tasks.

5 Main Ways to Calculate How Many Pay Stubs is 30 Days Worth

Now that you are more familiar with the different types of payroll schedules, it’s time to learn and understand how many pay stubs you get in 30 days.

Enumerated below are the different formulas to help you calculate just how many pay stubs you can expect for each pay schedule:

1. Monthly Pay Schedule

The formula for calculating 30 days’ worth of pay stubs in a monthly pay schedule is the simplest and easiest. Since there are 30 days in a month, all you have to do is divide 30 days by 30.

That will yield answer 1, which means you can expect one pay stub in a monthly pay schedule.

2. Semi-Monthly Pay Schedule

Employees are paid twice a month in a semi-monthly pay schedule, which also means that each month is divided into 15 days to accommodate both pay periods. That said, you must divide 30 days’ worth of pay stubs by 15 days.

Using the said values as your guide, 30 divided by 15 is 2. As such, 30 days’ worth of pay stubs in a semi-monthly pay cycle is equivalent to two paychecks.

3. Bi-weekly Pay Schedule

For those who are paid bi-weekly, take note of the number of days in each pay period. Bi-weekly pay schedules consist of 14 days in each pay period. That means if you divide 30 by 14, then 2.14 pay stubs are 30 days worth for employees paid every other week.

4. Weekly Pay Schedule

For a weekly pay schedule, there are 7 days in each pay covered by a weekly payroll. Similar to all the previous examples above, divide 30 days by the number of days in each pay schedule.

In this case, 30 days divided by 7 is equal to 4.29 paychecks for 30 days.

5. Daily Pay Schedule

A daily pay schedule is quite straightforward, as it yields 30 days’ worth of pay stubs since employees get paid every single day each month.

How to Calculate 30 Days Worth of Paystubs if You’re Paid Irregularly

Understandably, 30 days of pay stubs is a number that varies if you are paid irregularly. You may be earning money through project-based work or getting paid in commission.

While it may be more challenging to have a clearer picture of how many pay stubs you get in 30 days when you are not paid through a regular schedule, there are specific steps you can take to manage your expenses and salaries more effectively:

• Track all of your payments. Record all of your monthly expenses, from the essential expenditures down to the not-so-important items and transactions that take up a percentage of your hard-earned money. Then, create a pay stub budget to ensure you have enough to pay your utilities and afford your basic needs. If possible, leave a small portion of your pay to save for a rainy day.

• Generate pay stubs. You may not yield a consistent value when measuring how many pay stubs are equivalent to 30 days with an irregular pay schedule. But you can document all your earnings to keep your financial documents organized. Use an online paystub generator to create your own pay stubs and monitor how much you earn monthly or for each project.

• Create an emergency fund. An emergency fund comes in handy if you are still in the middle of finding a client or if you recently completed a project and are yet to land a new freelancing gig. An emergency fund is similar to your savings; the only difference is that you can shell out money from your emergency savings whenever the need arises.

• Find other sources of income. One of the advantages of working as a freelancer or independent contractor is that you have more flexible work hours. If possible, sign up for more than one freelancing project or accommodate more clients, depending on your field of expertise. The key is to create a safety net that secures your stream of income once a project or contract with a client ends.

Final Thoughts

Now that you know what 30 days’ worth of paystubs looks like for different pay schedules, you can plan your monthly budget according to your daily expenses and needs.

Regardless of whether you belong to the low-income or high-income bracket or if you fall somewhere in between, handling your earnings wisely will help you maximize your finances and be ready in case of an emergency.