When learning how to manage your money, it is first important to understand how much money you have, where it comes from, whether you are paying taxes, and, if so, what you are being taxed for. This money that you are receiving (either from a job, investments, or through the government or your family) is called your income.
Your income can come from a number of places. For many people, most of their income comes from their job. Other sources of income may be the money you earn, such as interest, from your savings or investments. Still other sources of income include money from the government, such as disability, social security, or unemployment insurance.
Many people have questions about their income. Here are answers to some commonly asked questions coming up next in this class.