{"id":7123,"date":"2019-10-30T10:35:17","date_gmt":"2019-10-30T14:35:17","guid":{"rendered":"https:\/\/www.ucf.edu\/financial-aid\/?page_id=7123"},"modified":"2020-02-26T09:04:57","modified_gmt":"2020-02-26T14:04:57","slug":"earnings","status":"publish","type":"page","link":"https:\/\/www.ucf.edu\/financial-aid\/financial-literacy\/earnings\/","title":{"rendered":"Understanding Earnings"},"content":{"rendered":"<h2>Tips To Help Better Understand Your Earnings<\/h2>\n<ul>\n<li>State and local taxes may be very different. Your net pay in one location may be significantly greater than another even if the offered salary is the same.<\/li>\n<li>Consider the costs of benefits such as health care or a retirement plan for every job opportunity.<\/li>\n<li>The cost of living varies by state and city. In order to make a fair comparison of the job offers you are receiving, you should consider the cost of living in each location.<\/li>\n<li>Filing out your W-4 tax form correctly with your employer is important. Underpayment of your federal tax obligation will result in you owing the Internal Revenue Service (IRS).<\/li>\n<li>If you are having difficulties making payments, contact your student loan servicer immediately. Defaulting on federal student loans can easily be avoided.<\/li>\n<\/ul>\n<blockquote class=\"blockquote\">\n<p>\u201cTry to save something while your salary is small; it\u2019s impossible to save after you begin to earn more.\u201d<\/p>\n<footer class=\"blockquote-footer\">\u2013 Jack Benny<\/footer>\n<\/blockquote>\n<p>When considering your employment opportunities it\u2019s important to understand what you will be earning and what you will bring home each paycheck. There are specific costs associated with being employed. A $60,000 a year job does not mean that you will have $5,000 in take-home pay monthly. When looking at job opportunities, you should calculate what your net or take-home pay will be monthly. Your gross pay is the salary amount offered to you. However, after taxes, health care, retirement and other deductions, your net pay will be less than your gross pay.<\/p>\n<h2 class=\"h5 text-uppercase mt-4 mb-2 pt-3\">Earnings Resources<\/h2>\n\t\t\t<ul class=\"nav d-flex flex-column align-items-start\"\n\t\t\t\t\t\t\t\t\t>\n\t\t\t\t\n\t\t\t<li class=\"nav-item \"\n\t\t\t\t\t\t\t\t\t>\n\t\t\t\t\t\t\t<a class=\"nav-link \"\n\t\t\thref=\"https:\/\/www.bankrate.com\/calculators\/savings\/moving-cost-of-living-calculator.aspx\"\t\t\t\t\t\ttarget=\"_blank\"\t\t\t\t\t\trel=\"noopener\"\t\t\t\t\t\t>\n\t\t\t\tCompare Salaries by Location\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\n\t\t\t<li class=\"nav-item \"\n\t\t\t\t\t\t\t\t\t>\n\t\t\t\t\t\t\t<a class=\"nav-link \"\n\t\t\thref=\"https:\/\/www.bls.gov\/ooh\/\"\t\t\t\t\t\ttarget=\"_blank\"\t\t\t\t\t\trel=\"noopener\"\t\t\t\t\t\t>\n\t\t\t\tAverage Salaries by Profession\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\n\t\t\t<li class=\"nav-item \"\n\t\t\t\t\t\t\t\t\t>\n\t\t\t\t\t\t\t<a class=\"nav-link \"\n\t\t\thref=\"https:\/\/www.paycheckcity.com\/calculator\/salary\/\"\t\t\t\t\t\ttarget=\"_blank\"\t\t\t\t\t\trel=\"noopener\"\t\t\t\t\t\t>\n\t\t\t\tNet Pay Calculator\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\n\t\t\t<\/ul>\n\t\t\n","protected":false},"excerpt":{"rendered":"Tips To Help Better Understand Your Earnings State and local taxes may be very different. Your net pay in one location may be significantly greater than another even if the offered salary is the same. Consider the costs of benefits such as health care or a retirement plan for every job opportunity. The cost of&hellip;","protected":false},"author":4,"featured_media":0,"parent":6823,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-right-sidebar-child.php","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-7123","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding Earnings | Â鶹ӳ»­´«Ã½ Office of Student Financial Assistance<\/title>\n<meta name=\"description\" content=\"Tips To Help Better Understand Your Earnings State and local taxes may be very different. Your net pay in one location may be significantly greater than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ucf.edu\/financial-aid\/financial-literacy\/earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding Earnings | Â鶹ӳ»­´«Ã½ Office of Student Financial Assistance\" \/>\n<meta property=\"og:description\" content=\"Tips To Help Better Understand Your Earnings State and local taxes may be very different. Your net pay in one location may be significantly greater than\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ucf.edu\/financial-aid\/financial-literacy\/earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Â鶹ӳ»­´«Ã½ Financial Aid\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-26T14:04:57+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ucf.edu\\\/financial-aid\\\/financial-literacy\\\/earnings\\\/\",\"url\":\"https:\\\/\\\/www.ucf.edu\\\/financial-aid\\\/financial-literacy\\\/earnings\\\/\",\"name\":\"Understanding Earnings | Â鶹ӳ»­´«Ã½ Office of Student Financial Assistance\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ucf.edu\\\/financial-aid\\\/#website\"},\"datePublished\":\"2019-10-30T14:35:17+00:00\",\"dateModified\":\"2020-02-26T14:04:57+00:00\",\"description\":\"Tips To Help Better Understand Your Earnings State and local taxes may be very different. 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