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Gross Pay
FinanceSource: Standard payroll / personal finance
Your pay before anything is taken out.
Example
You work ten hours at $10 an hour and earn $100. Even if $15 is later subtracted, your gross pay is still $100.
How it fits in
Gross pay shows the starting amount. It is not the amount you can spend. Take-home pay is what remains after deductions and is the figure to use before making a budget.
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.