Income
/ˈɪnkʌm/
Definitions
The money that a person, company, or government receives regularly from work, investments, or business.
/ˈɪnkʌm/
Money received, especially on a regular basis, for work or through investments.
Her income from her part-time job helps pay for college.
💡 Simply: Your income is all the money you earn or receive, like from your job, investments, or even a gift. Think of it like the money that comes *in* to you.
👶 For kids: Income is the money you get, like when your parents get paid for working or when you get money for doing chores.
More Examples
The company's income increased significantly last quarter.
They are living on a fixed income after retirement.
How It's Used
"Tracking your income is essential for budgeting."
"Income disparities are a major concern for social policy."
"Calculating your disposable income is crucial when planning to buy a house"
Idioms & expressions
disposable income
Income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes.
"After paying taxes and bills, families will have less disposable income."
fixed income
A regular, steady income that does not increase over time.
"Retirees often live on a fixed income from pensions and investments."
earn a good income
To get paid a good amount of money for the work or the services provided.
"The lawyer was able to earn a good income."
From Middle English *incume*, from Old English *incuma* (“incoming, revenue, produce, profit”), from Proto-Germanic *inkwemaną* (“arrival”), equivalent to in- + come. Compare German *Einkommen*.
The term 'income' has been used since the 15th century, initially referring to a person's revenue or earnings.
Memory tip
Imagine an 'in' 'come': money flowing *in* to your account is your *income*.