What's a paystub? by Robert
Robert's entry into Varsity Tutor's November 2021 scholarship contest
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What's a paystub? by Robert - November 2021 Scholarship Essay
I saw the net and then I saw the gross and I had no idea where my money went. It was my first paycheck as an ocean lifeguard for the City of Huntington Beach. While it was still more money than I ever earned, I still didn't understand where the difference went.
I think an important class that should be taught in the beginning of high school is a finance class. It should start with an explanation of a paycheck stub, tax brackets, and where your money goes. The next step should be budgeting - budgeting for bills and needs. The last portion of the class should be about saving and investing or how money can earn interest.
I know I'm young and we've learned a little about this in my high school Economics class. But it doesn't help me understand how to fully budget my money. My parents have helped and explained what they do, but their way doesn't work the best for me. If I could know different styles or options of how to budget and especially how to save, I would be able to choose what works best for me.
I'm working really hard to graduate college with no debt. I know I will need help from my parents. But a class that would help me understand how to budget and save money over the next four years I think would be more beneficial as a lifelong skill than just a class to meet a requirement for graduation.