Tax Time: Scavenger Hunt
Objective
Students will apply math skills to calculate the total amount of taxes paid through their Bankability income. Through this activity, students will identify and interpret information on a pay stub, distinguish between gross and net pay, and practice real-world financial literacy skills.
Directions for this Extension Activity:
To begin the lesson, explain that everyone who earns income pays taxes, and those taxes help fund important services like schools, roads, and public safety. Students will explore this concept using their own Bankability pay stubs. After reviewing the difference between gross pay (the total earned) and net pay (the amount received after taxes), students will complete a scavenger hunt by locating specific details on their pay stub. They’ll use the information to calculate how much they’ve paid in taxes and reflect on how those deductions add up over time. This engaging, hands-on activity will help students better understand the impact of taxes on their income and build practical money management skills.
Duration: ~15 minutes* [will vary based on students' level of need]
Digitability Curriculum Concepts: Financial Literacy, Communication, Social Skills
Incorporating Bankability:
Throughout this activity, students can earn dollars for staying on task, completing their tax reflection, presenting to the class, and helping their peers during the activity. This encourages participation, positive behavior, and peer support. Current Bankability users can integrate these earnings into their classroom economy. No Bankability account? Use the templates provided and click here to learn more about bringing Bankability to your program.
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