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Take-Home Pay
FinanceSource: Standard payroll / personal finance
The money paid to you after deductions have been subtracted.
Example
A job pays $100 before $15 is subtracted. The take-home pay is $85. That is the amount paid to you.
How it fits in
Take-home pay, also called net pay, is the figure a budget can use. Gross pay shows the starting amount. Deductions explain the difference. Take-home pay must still cover commitments before saving and spending decisions are made.
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.