← Back to Classroom Launch · Grades 9–12

These are sample pages from the full workbook. The complete printed book has 36 pages. Free class sets available for teachers — request kits.

Grades 9–12 🎓

Launch

Real-World Money Before You Go
A Fort McClellan Credit Union Workbook
Lesson 1

Reading Your First Paycheck

Your gross pay is what you earned before anything is taken out. Your net pay (take-home) is what actually lands in your account after deductions. The difference is mostly taxes: federal income tax, state income tax, and FICA — the 7.65% that funds Social Security and Medicare.

Sample pay stub

Study this two-week paycheck

LineAmount
Gross pay$1,000.00
− Federal income tax$100.00
− Social Security & Medicare (FICA)$76.50
− State income tax$40.00
= Net / take-home pay$783.50
Do the math

Answer using the stub above

  1. How many dollars total were withheld from the $1,000 gross pay?
  1. What percent of gross pay did all the deductions take? (dollars withheld ÷ 1,000 × 100)
  1. If you worked the same amount for a full year (26 paychecks), estimate your yearly take-home pay.
Reality check: A $15/hour job is not $15 in your pocket. Always budget from your net pay, never your gross — that gap is why your first check can feel smaller than expected.
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Lesson 2

Your Credit Score

A credit score is a number (roughly 300–850) that lenders use to guess how reliably you repay borrowed money. A higher score can mean easier approvals and lower interest rates on cars, apartments, and loans. Five things shape it:

The five factors

What goes into a score

Payment history — paying on time (biggest factor)
Amounts owed — how much of your limit you use
Length of credit history — how long you've had accounts
New credit — how many accounts you've opened lately
Credit mix — the variety of accounts you manage
All five together build one number
Habits

Which side is each habit on?

Helps your scoreHurts your score
Paying every bill on time, every timeMissing a payment or paying late
Using only a small part of your limitMaxing out a credit card
Keeping old accounts openOpening lots of new cards at once
Tip: A good rule is to keep your balance under 30% of your credit limit — so on a $500 card, try to stay below $150. You can check your credit report free once a year at annualcreditreport.com.
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Lesson 3

Paying for What's Next

The sticker price is never the whole cost. A $6,000 used car still costs you every month in insurance, gas, and maintenance. And when it comes to college, the smart order is simple: free money first (grants and scholarships), then borrow only what you truly need.

Cost worksheet

The real monthly cost of a first car

CostYour estimate (per month)
Insurance$
Gas / fuel$
Maintenance & repairs$
Loan payment (if any)$
Total monthly cost$

The sticker price buys the car once. This total is what it costs to keep it.

Borrow smart

Paying for college without overborrowing

Add up your free money and grants first, then figure out the real gap you'd need to borrow:

Total yearly cost of school$
− Grants & scholarships (free money)$
− Savings & what you can earn$
= Gap you'd actually need to borrow$
Reflection

What's your next big money goal, and one step you'll take toward it?

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🚀

You're ready to launch.

This was a peek at Launch. The full 36-page workbook digs into renting your first apartment, opening checking and savings accounts, filing a simple tax return, and building an emergency fund.

Teachers can request free printed class sets from Fort McClellan Credit Union.

Request free class sets →
Fort McClellan Credit Union · Since 1953