"2 Truths and a Lie" Paycheck Deductions Net & Gross Pay Error Analysis Activity

This financial literacy error analysis activity will make your consumer math students really think about paycheck deductions, net pay, gross pay, and different pay schedules. Students identify incorrect statements about paychecks given a gross income, a pay schedule, and paycheck deductions. Students are then asked to fix each error.

On each card there is a paycheck with deductions, and a gross pay amount given various pay schedules (weekly, biweekly, semimonthly, monthly), along with 3 statements. Statements include:

• net income amount
• total paycheck deductions
• state & federal income tax rates
• health insurance cost as a percentage of gross pay

Students need to figure out which of the 3 statements is false (the "lie"), then correct the false statement on their answer sheet.

This activity gives students practice analyzing paychecks, calculating percentages, calculating deductions, and determining net pay from gross pay, along with recognizing errors when they occur. There are 10 cards, a student answer sheet and an answer key included.

This activity is also on TPT, if you prefer shopping there.