Banking and your first paycheck
Understand a sample pay stub and compare account features.
Skill 5.3 · About 25 minutes to begin
The amount you earn and the amount deposited may differ. Practice with fictional numbers and documents so you can ask useful questions when you receive your own paycheck.
Before you begin
Bring along
- Fictional budget or sample documents
- Calculator
- Notebook
Support & boundaries
Use fictional examples. Keep private financial records out of group activities and review real accounts or employment decisions with a trusted adult.
01 / Learn
Understand the skill
- Gross pay is earnings before deductions; net pay is what remains afterward.
- Account fees, minimum balances, access, and overdraft terms can matter more than a promotion.
- A guardian may need to help a minor open an account; requirements vary by provider.
- Do not put account numbers, passwords, or personal pay records into a group worksheet.
02 / Practice
Try it, step by step
- 1
On a fictional stub, locate the pay period, hours, rate, gross pay, deductions, and net pay.
- 2
For a simple practice example, multiply 10 hours by $12, then subtract $15 in fictional deductions. Explain the $105 net result.
- 3
Compare two sample accounts for fees, access, and overdraft terms with a trusted adult.
- 4
Plan how part of a deposit will cover spending and part will go toward a goal.
- 5
Explain how you would report a pay discrepancy to the employer or an unfamiliar transaction to the bank through a verified contact.
Common mistakes to avoid
- $120 because that is what was earned.
- Treating a successful practice attempt as permission to skip the supervision or checks for a real task.
Your call
A sample stub shows $120 gross and $15 deductions. What is available to allocate?
03 / Demonstrate
Show what you can do
Use these prompts with a mentor. This practice checklist resets when you leave; record your overall stage below in the signed-in manual.
0 of 3 reviewed together
Mentor notes & sources
Help someone learn
- Use invented documents and avoid asking anyone to share family income.
- Invite questions without treating unfamiliarity as a failure.
Start together, then let the learner take responsibility at an appropriate level. Offer a shorter task, a different role, or more practice time when useful. Review the demonstration criteria together; advanced practice never removes supervision requirements.
Reference shelf
Original program lessons informed by these references. Equipment manuals, current local rules, and qualified instruction govern technical practice.
- CFPB: youth financial capability ↗
Planning, money habits and decision-making
Edition updated 2026-09-28. Program learning material; not a professional qualification.
04 / Apply · In Action
Follow a fictional paycheck
Use a sample of 10 hours at $12 with $15 in fictional deductions. Allocate the net amount among spending and savings.
What success looks like
Show the gross-to-net calculation and compare two sample account fee schedules.
Talk it through
Which account feature matters most for how you would use it?
05 / Teach · Take it further
Explain the sample stub to a partner using no private financial information.