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What is a Paycheck and Pay Stub? A Simple Explanation for Kids, Teens & Beginners

What is a Paycheck and Pay Stub? Finance 101: Easy Peasy Finance for Kids and Beginners

Introduction to Paycheck & Pay Stub for Kids and Teens

This video explains the concept of a paycheck in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about paycheck and paystub, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum.

What is a Paycheck and Pay Stub - A Simple Explanation for Kids Teens Beginners
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Suitable for students from grade levels:

  • Kindergarten
  • Elementary School
  • Middle School
  • High School

The topics covered are:

What is a paycheck?

A paycheck is money that an employer pays an employee on payday, in exchange for work they have done.

Pay Stub and Paycheck for Kids Teens Beginners
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It could be in the form of a physical check that needs to be deposited in the bank account by the employee in order to cash it. Or it could be money directly deposited in the employee’s bank account.

What is included on a paycheck / pay stub?

The name of the employer and employee, the amount of money being paid, the date, and the employer’s bank account number are some of the things that are included on a paycheck.

Usually, something called a pay stub or a pay slip is also attached to the paycheck. It shows the pay period, the gross and net earnings, as well as any withholding and deductions – like income tax, medicare and social security tax, 401k contribution, insurance premiums, etc.

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Who gets a paycheck?

All employees get paychecks. An employee earning a fixed salary generally gets the same amount of money every paycheck.

On the other hand, for employees who are paid by the hour, each paycheck amount can change depending on the number of hours worked. 

Paycheck and Pay Stub for Kids Teens Beginners - Frequency
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What is a Pay Period? How often do employers give paychecks?

Depending on the terms of the employment, a paycheck can be paid weekly, bi-weekly, or monthly.

This is called the Pay Period.

Download Transcript: Ideal for Use by Teachers in their Lesson Plan to Teach Kids & Teens

Podcast: What is a Paycheck and Pay Stub

What is a Paycheck and Pay Stub
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