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Gross Salary
FinanceSource: Standard payroll / personal finance
Your pay before anything is taken out.
Example
A payslip says $100 at the top. Then $15 is taken off. The gross salary is still $100, because it is the amount before the $15 comes off.
How it fits in
Gross salary is useful because it shows the starting amount. It is not the amount you can spend. The number learners should use for budgeting is net pay, because that is what reaches the wallet after deductions.
Where this is taught
Practise it on the platform
Related terms
Compound Interest
When the money you earn from saving starts earning its own money on top.
Simple Interest
Interest paid only on the original amount, never on the interest you have already earned.
Needs vs Wants
Needs are the things that keep you safe and well. Wants make life nicer. Mixing them up is what empties most budgets.