It’s almost payday again!

@bitsofjas

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SoundTikTok sound · original sound - bitsofjas

Why it worked

The video provides a transparent and detailed breakdown of a paycheck, which is highly relatable and informative for viewers interested in personal finance and financial literacy.

Summary

The creator breaks down their bi-weekly paycheck, detailing their gross pay, hours worked, and deductions for taxes and 401k contributions. After all deductions, their net pay is $1439.20.

Structure

1Introduction to paycheck breakdown
2Gross pay and hours worked
3Taxes deducted
4Post-tax deductions (401k)
5Net pay calculation

On-screen text

Paycheck Breakdown biweekly pay | 80 hrs

Transcript

It's almost payday again! Here's a breakdown of my paycheck. It's payday, let's do another paycheck breakdown. My gross pay this paycheck was $1775.20. That's for 80 hours of work. I actually worked only 40 hours and I got 40 hours of bereavement. This is bi-weekly. For taxes, I got a total of $264.99 taken out of my paycheck. That's $110.07 for Social Security. $25.74 for Medicare. And $129.18 for federal taxes. For post-tax deductions, I only got my 401k contribution taken out, which was $71.01. I don't have any state taxes and my employer pays for healthcare. So, those deductions out of my paycheck. So after all that, I'm left with a net pay of $1439.20.

Original caption

It’s almost payday again! Here’s a breakdown of my paycheck 🕺 #moneytok #PersonalFinance #financialliteracy #paytransparency #payday