Money Scale
Kids & Teens
Lesson 6 of 244 min35 XP
Kids & Teens · Earning & growing it

Your first paycheck (why it's smaller than you thought)

The number on your pay stub almost never matches what hits your bank. Here's why — in plain English.

Say you got hired at $15/hour and worked 10 hours. You'd expect $150, right? Nope. Your real check is closer to $125–$135. The missing money went to taxes — money the government uses for roads, schools, and other things we share.

What gets taken out

  • Federal income tax — varies by income; for most teens, very little or zero.
  • Social Security & Medicare (FICA) — flat 6.2% + 1.45% = 7.65% of every paycheck. Always there, no matter your bracket.
  • State income tax — depends on where you live (TX, FL, WA, NV, TN have none).

7.65%

FICA — the unavoidable part

Even if your federal income tax is $0 (because you earn under the standard deduction), FICA is still pulled from every paycheck.

Key idea

'Gross pay' = the big number before taxes. 'Net pay' = what actually lands in your bank. Always plan around NET.

Real life: meet Jamie's first stub

Jamie made $150 (10 hours × $15) at a smoothie shop. The stub showed $11.48 in FICA, $0 federal (under the standard deduction), and $4.50 state. Net: $134.02.

Gross $150 · Net $134.02 · ~10.7% gone

Takeaway

When you start earning real money, ignore the 'big number' and look at what shows up in your account. That's the number you can spend.

Quick check · 35 XP

Which payroll tax always comes out, even if you owe $0 federal income tax?

For parents & teachers

Takeaway: Net is the only number that matters for what you can actually spend.

Try together: Pull the learner's last paystub (or print a sample). Together, label each line and calculate the net-to-gross ratio.