Walter van der Merwe
2 minute read
2 Oct 2019
1:20 pm

The importance of unpacking your payslip

Walter van der Merwe

Payslips are some of the most important documents that you’ll receive, so it is imperative to understand what the various deductions and items on it are.

Picture: iStock

Getting a job is the first step towards financial freedom, but – as anyone who has ever received a salary will know – your cost-to-company salary and what gets paid into your account are two different figures. The road to financial freedom requires hard work and discipline. It also requires being on top of all your money affairs. Understanding your payslip is the start of that journey. Let’s look at what the most common items on your payslip mean. Cost to company (CTC): This is the total amount of money your employer spends on you. This figure is the starting...