PAYROLL SYSTEM TO FACILITATE EMPLOYEE BUDGET CONTROL AND METHODS THEREOF

摘要

Embodiments of the present invention generally relate to a system for administering and managing an employee's compensation by virtue of enabling the employee to implement measures to create a budget and implement such budget through controlled distribution of the employee's compensation. In one embodiment, the method comprises: receiving employee data regarding the employee's compensation from an employer, the employee data comprising an employer pay schedule and an ordinary pay amount each pay period of the pay schedule; enabling the employee to create a customized periodic payment plan; and managing implementation of the customized periodic payment plan, whereby the employee is compensated based on the customized pay schedule at a modified pay amount for each pay period of the customized pay schedule.