Money vs. Income — What's the Difference?

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.For households and individuals, income is a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a given period of time. (also known as gross income).

A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.

Money received, especially on a regular basis, for work or through investments

The official currency, coins, and negotiable paper notes issued by a government.

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.

Assets and property considered in terms of monetary value; wealth.

The act of coming in; entrance.

Pecuniary profit or loss

Money one earns by working or by capitalising on the work of others.

One's salary; pay

Money coming in to a fund, account, or policy.

An amount of cash or credit

(obsolete) A coming in; arrival; entrance; introduction.

Often moneys, monies Sums of money, especially of a specified nature

A newcomer or arrival; an incomer.

A wealthy person, family, or group

(obsolete) An entrance-fee.

A legally or socially binding conceptual contract of entitlement to wealth, void of intrinsic value, payable for all debts and taxes, and regulated in supply.

(archaic) A coming in as by influx or inspiration, hence, an inspired quality or characteristic, as courage or zeal; an inflowing principle.

A generally accepted means of exchange and measure of value.

A disease or ailment without known or apparent cause, as distinguished from one induced by accident or contagion; an oncome.

A currency maintained by a state or other entity which can guarantee its value (such as a monetary union).

That which is taken into the body as food; the ingesta; sometimes restricted to the nutritive, or digestible, portion of the food.

Hard cash in the form of banknotes and coins, as opposed to cheques/checks, credit cards, or credit more generally.

A coming in; entrance; admittance; ingress; infusion.

The total value of liquid assets available for an individual or other economic unit, such as cash and bank deposits.

That which is caused to enter; inspiration; influence; hence, courage or zeal imparted.

Wealth; a person, family or class that possesses wealth

That gain which proceeds from labor, business, property, or capital of any kind, as the produce of a farm, the rent of houses, the proceeds of professional business, the profits of commerce or of occupation, or the interest of money or stock in funds, etc.; revenue; receipts; salary; especially, the annual receipts of a private person, or a corporation, from property; as, a large income.

An item of value between two or more parties used for the exchange of goods or services.

That which is taken into the body as food; the ingesta; - sometimes restricted to the nutritive, or digestible, portion of the food. See Food. Opposed to output.

A person who funds an operation.

The financial gain (earned or unearned) accruing over a given period of time

A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.

Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.

Any article used as a medium of payment in financial transactions, such as checks drawn on checking accounts.

Any form of wealth which affects a person's propensity to spend, such as checking accounts or time deposits in banks, credit accounts, letters of credit, etc. Various aggregates of money in different forms are given different names, such as M-1, the total sum of all currency in circulation plus all money in demand deposit accounts (checking accounts).

In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.

To supply with money.

The most common medium of exchange; functions as legal tender;

Wealth reckoned in terms of money;

The official currency issued by a government or national bank;