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y=\frac{1}{4}-\frac{2}{3}
Subtract \frac{2}{3} from both sides.
y=\frac{3}{12}-\frac{8}{12}
Least common multiple of 4 and 3 is 12. Convert \frac{1}{4} and \frac{2}{3} to fractions with denominator 12.
y=\frac{3-8}{12}
Since \frac{3}{12} and \frac{8}{12} have the same denominator, subtract them by subtracting their numerators.
y=-\frac{5}{12}
Subtract 8 from 3 to get -5.