Pay Stub Deductions and Net Pay
Written by Adi Ackerman, Head Teacher
"Pay Stub Deductions and Net Pay" is written for 7th Grade (Ages 12-13). A 6th grader who is already steady on Economics and Money can use it too, and an older student can use it as a short review.
2 pages in this set
7th grade social studies worksheet: read a sample pay stub to find gross pay, deductions and net pay, then fill in a second stub. Answer key included. Part of our personal finance economics and money collection.
How do I use this worksheet?
Run the budget sheet first, then the ledger and expense sheets. Use the pay stub last, because it connects to taxes and deductions.
What students will practice
- Students will tell gross pay from net pay.
- Students will calculate deductions such as Social Security and Medicare from percents.
- Students will find take home percent and complete a second pay stub.
Spending Choices in a Household Budget
Fixed and Variable Expenses Over Six Months
Income, Expenses and Savings on a Ledger
Cost-Benefit Analysis of a Town Decision
Opportunity Cost on a Production Graph
Scarcity and Ways to Allocate Goods
Economic Systems Through History
Inflation, CPI and Purchasing Power
Curriculum Links
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Browse the grade, subject, and topic this belongs to.
FAQ
How do I use this personal finance worksheet?
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Run the budget sheet first, then the ledger and expense sheets. Use the pay stub last, because it connects to taxes and deductions.
What does this worksheet teach?
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Read a sample pay stub to find gross pay, deductions and net pay, then fill in a second stub. The directions on the page read: Read the sample pay stub. Write your math on the Work line and the result on the Answer line for each question. An answer key is included.
Can I use this personal finance worksheet for homeschool or classroom?
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Yes, both. We made it for 7th grade Economics and Money, and it works the same at home or at school. At home, a student can work through it alone and then go over it with you, which shows quickly what is solid and what needs another look. In class it works as independent practice, homework or a warm-up, and you can print one copy or a full set.
What is the 50, 30, 20 guideline?
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It is a sample guideline of 50 percent of income for needs, 30 percent for wants and 20 percent for savings. The household budget sheet compares a family's bars to it.
What is a fixed expense?
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A fixed expense stays the same each month, like rent. A variable expense changes from month to month, like groceries.
What is net pay?
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Net pay is what is left of gross pay after deductions such as taxes, Social Security and Medicare.
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Worksheet Details
| Grade | 7th Grade |
| Subject | Social Studies |
| Topic | Economics and Money |
| Pages | 2 pages |
| Difficulty | Medium |
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Spending Choices in a Household Budget
Fixed and Variable Expenses Over Six Months
Income, Expenses and Savings on a Ledger
Cost-Benefit Analysis of a Town Decision
Opportunity Cost on a Production Graph
Scarcity and Ways to Allocate Goods
Economic Systems Through History
Inflation, CPI and Purchasing Power