Getting to know payslips

This lesson contains content from a lesson previously titled Money and work.

The suite of LifeSkills money skills content has recently been updated. Responding to insights from teaching professionals and the benefits of building key topics over time we’ve made changes enabling clearer sequencing through the content. This will support your students to deepen their knowledge as they progress through education and help embed skills to support with financial independence.

To see an overview of the updates and where key topics can be found please visit Money Skills resource updates. The wider suite of Money Skills content has been developed to engage your pupils with a mix of resource types including interactive tools and films, aligns to the Young Money Financial Education Planning Framework and has been awarded the Young Money Quality Mark.

The Getting to know payslips lesson explores payslips, encouraging students to become familiar with reading a payslip and calculating pay. They will also explore loans and pensions and identify employee benefits beyond a salary.

Resources

• Getting to know payslips: Lesson plan - for use with a group of students in the classroom.
• Getting to know payslips: Presentation slides - to display to students and use alongside the lesson plan.

Lesson learning outcomes

By the end of the lesson students will have:

• Been introduced to what payslips are and how to read them.
• Identified the main features of a payslip and be able to explain some key terms.
• Identified how to calculate income tax and National Insurance deductions.

Enhance your students' knowledge of the topic further by heading to BBC Teach and watching films which cover topics such as budgeting, saving, debt and understanding credit.

Why not include financial capability as a focus in your students’ wider curriculum? Refer to our Content guide to find out how LifeSkills resources can be used in PSHE or Maths lessons.

If you want to increase your own confidence to teach young people about money, Young Money provide free e-learning training to teachers across Primary and Secondary education. In addition, National Numeracy has a free website which helps you practise and refresh your everyday maths skills.