Your first paycheck, explained.
A pay stub is a record of what you earned and what was taken out. Start with these four pieces.
1. Check the basics
Confirm your name, pay period, hours, and pay rate. Compare the hours with your own records. If something looks wrong, ask your employer or payroll team.
2. Find your gross pay
Gross pay is your earnings before deductions. For a simple hourly example, 15 hours at $16 per hour is $240 in gross pay. Other pay arrangements can work differently.
3. Review deductions
Your stub may list taxes and other deductions. The labels and amounts depend on your situation. Ask payroll to explain any item you do not understand.
4. Locate net pay
Net pay is what remains after deductions—your take-home pay. Use that amount when planning your spending and saving, and check that it matches your payment.
Write down necessary expenses, a savings goal, and what you want available for everyday spending. There is no single percentage split that fits everyone.
General educational information. Specific withholding and employment questions belong with payroll or a qualified professional.
Your First Paycheck, Explained
Read the original 3-page First Earnings Project guide, including the fictional pay stub and paycheck checklist.
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