What is take home pay everfi?

Take home pay, also known as net pay, is the amount of money an individual receives from their employer after deductions such as taxes, retirement contributions, and other withholdings have been taken out. It is the amount of money that is deposited into the employee's bank account or given as a physical paycheck.

Everfi is an education technology company that provides digital learning resources on a variety of topics, including financial literacy. They offer modules and courses that cover important financial concepts such as budgeting, saving, investing, and understanding paychecks. One of the topics they cover is take home pay, helping individuals understand how their gross pay is calculated and how deductions impact their net pay.

Understanding take home pay is important for managing personal finances and budgeting effectively. By knowing how much money you actually take home after taxes and other deductions, you can better plan for expenses, save for the future, and make informed financial decisions.