Jobs and Money Lesson 3: What’s Yours and What’s Not: Paychecks and Deductions

Overview:

In this lesson, students will analyze a pay stub and think about how net income and gross income can fluctuate. The primary purpose is to think about which deductions are voluntary, which are involuntary and why. The second purpose will be to get them to use the rational decision-making process to evaluate the different retirement savings options: 401K and IRA. If the teacher wants to make the lesson more challenging, students can also think about Roth 401Ks and Roth IRAs.

NBEA Standard(s):
  • Personal Finance, I. Personal Decision Making
  • Personal Finance, II. Earning and Reporting Income
  • Personal Finance, IV. Saving and Investing

Lesson Plan Details:

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