Income

Income is the money a person or business earns over a specific period. For individuals, it often comes from wages, salaries, or investments. For businesses, it includes the revenue from selling products or services. Income is essential because it helps cover living expenses, savings, and investments. It also reflects financial health—higher income typically provides more financial stability and options. Understanding income helps in budgeting, planning for the future, and assessing economic well-being. In essence, income is the flow of money that supports daily life and long-term financial goals.