Code: 1.2.2 · Adults
Understands the entries on a payslip and income statement
Understands how to access, store and keep track of relevant information regarding a person's income
Understands the difference between gross and net income
Understands that some automatic deductions from pay may be earmarked for building assets/providing rights or paying expenses
Checks payslips and income statements and files them for future reference
Checks actual income against expected income and seeks to analyse why they might differ
Uses gross or net income as appropriate when making decisions
Takes into account the full pay package, including contributions to savings or insurance where relevant, when comparing current income to alternatives