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Income
Money coming in to you or to a business. The first number on any budget.
Example
Your friend earns $20 a week from babysitting and another $5 a week from helping at the family shop. Their total weekly income is $25. That is the number their whole budget has to fit inside.
How it fits in
Income shows up in different shapes: wages, salary, freelance fees, business profit, interest, dividends, and capital gains. Each is taxed and timed differently. The healthiest household budgets are eventually built on more than one income type, so a wobble in one source does not break everything else.
Where this is taught
Related terms
When the money you earn from saving starts earning its own money on top.
Interest paid only on the original amount, never on the interest you have already earned.
Needs are the things that keep you safe and well. Wants make life nicer. Mixing them up is what empties most budgets.