Income refers to the money earned or received by an individual or organization from various sources, such as employment, investments, or rental properties. It is typically the primary source of funds used to support daily living expenses, make purchases, and save for future goals.

Income can be categorized as either earned or unearned. Earned income is the money earned from working, such as wages or salaries, while unearned income is the money earned from sources such as investments, rental income, or government benefits.

Understanding and managing income is an important part of personal finance, as it can help individuals or organizations make informed financial decisions and achieve their financial goals.