In order for us to subtract these, they need to have the same denominators, then we can subtract like we usually do.
$${\frac{{\mathtt{2}}}{{\mathtt{3}}}}{\mathtt{\,-\,}}{\frac{{\mathtt{1}}}{{\mathtt{4}}}}$$
Now I can multiply both the top and bottom of the first fraction by 4, and the top and bottom of the second fraction by 3. We know this works because 8/12 is the same thing as 2/3 and 3/12 is the same thing as 1/4
$${\frac{{\mathtt{8}}}{{\mathtt{12}}}}{\mathtt{\,-\,}}{\frac{{\mathtt{3}}}{{\mathtt{12}}}}$$
$${\frac{{\mathtt{5}}}{{\mathtt{12}}}}$$
Now I just subtracted to tops from each other. This can't be reduced, so 5/12 is our answer!
If this didn't make any sense at all, let me know and I can try to explain it differently!