Getting a paycheck gives you a sense of accomplishment. It’s time to take pride in how hard you’ve worked—not to mention an excuse to head to the mall! But the numbers you see on your paystub may be a little bit of a shocker. That’s especially true of the cash you can actually pocket, also called your take-home pay.

If you get paid by the hour, or if you are on a set salary, not all the money you earn goes home with you.  Varying amounts are deducted to pay for income taxes, Social Security, and Medicare taxes. Money also comes out so your employer can pay for your healthcare and other benefits.  And if you’re putting money into a retirement savings plan (a smart thing to do), that’s also money that will never make it into your wallet.

A W-4 is a form you fill out when you start work, and the info you give determines how much money is withheld from your paycheck. One of the key questions you answer is how many allowances you claim. As a young person, you probably don’t have any dependents—so you only have to claim 1—yourself!