Payslips, tax and interest
Financial documents make more sense when you separate gross pay, deductions, net pay, principal and interest.
Lesson overview
What you'll learn in this lesson
Explain pay, tax, interest and credit
Key learning points
- • Read a payslip
- • Understand credit
This lesson at a glance
- 25 minutes
- 10 parts to scroll through
- 3 quick checks
- Marked quiz at the end
- Gentle pace: short sittings with pauses
Words to know
Scroll down — the lesson carries on below
Watch & discover
Part 1 of 10
Watch first
Payslips, tax and interest
An English teaching video on this topic from Finance Aligned. Watch it, then scroll down for the lesson.
In a nutshell
Explain pay, tax, interest and credit
Explore the idea
Part 2 of 10
Learn
Read a payslip
Gross pay is before deductions. Income tax, National Insurance, pension and other deductions lead to net pay.
Explore the idea
Part 3 of 10
Learn
Understand credit
APR helps compare annual borrowing cost, but fees and repayment timing matter. Compound interest charges interest on previous interest when debt remains.
Quick check
Part 4 of 10
Quick check
What is net pay?
Quick check
Part 5 of 10
Quick check
What does APR help compare?
Quick check
Part 6 of 10
Quick check
Compound interest is interest on…
Challenge round
Part 7 of 10
Game · Sort it
Which of these are true?
Drag each card into the right column. Tap a card first if dragging is fiddly.
True
Not true
Challenge round
Part 8 of 10
Game · Fill the gaps
Finish the sentences
Choose the word that belongs in each gap.
Compound ____ charges interest on previous interest when debt remains.
Mastery quiz
Part 9 of 10
Marked quiz
End of lesson quiz: Payslips, tax and interest
3 questions, marked with the reasoning shown. No timer.
1. What is net pay?
2. What does APR help compare?
3. Compound interest is interest on…
Lesson round-up
Part 10 of 10
Lesson round-up
Ready when you are
Quiz score
Not sat
Games
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Points this lesson
0
Best run
0 in a row
Luna: 0 out of 3 on the practice checks. Only if you feel up to it — one more?
Ask LunaDo the work
Your written work for this lesson
This is the part you'd do in your book at school. Pick the pieces below, write here or on paper, and photograph anything you draw or work out.
Should the town centre have a curfew for under-16s?
After a rise in reported vandalism, Harbrook council proposed that under-16s should not be in the town centre after 9 pm without an adult. Police recorded 62 incidents last year, most between 9 pm and midnight. Shopkeepers signed a petition supporting the plan.
A youth council objected. They pointed out that most young people in town at night were going home from sports clubs or work, that the plan punishes a whole group for the acts of a few, and that the library and the bus interchange are in the town centre. They asked instead for a late bus and a youth space.
The council voted to trial the curfew for six months and to publish the crime figures at the end.
Written for Good Learning Co.
Reading questions
- Give the strongest point on each side of the argument, using a fact from the case.
- Whose rights and whose responsibilities are involved here? Explain both.
- Write your own view on the curfew with reasons and one example.
Reading and response
ReadingRead the case in the lesson again and write what you think should happen, and why it is fair. Use one fact from the case as evidence.
2 paragraphs (PEE)
Extended writing
WritingWrite your answer to the lesson's big question in full: the strongest point on each side, then your own view with reasons and an example.
250–350 words
Reading log
ReadingFind one news story this week that links to this lesson. Note the headline, where you read it, and how it connects.
1 story, 4–5 sentences
Two sides of the argument
WritingWrite the strongest point for, the strongest point against, and then your own view with a reason.
3 paragraphs
Poster or leaflet plan
DiagramPlan a leaflet that explains this right or responsibility to someone your age, then photograph it.
1 planned page
Saved as you type.
Part 1 of 10 · Watch & discover