Key Financial Concepts Explained (Income, Expenses, Assets, Liabilities, Debt) Income Income is the money you earn by working, selling goods or services, or investing. Income comes in two types: - Active income is money you earn by working. For example, if you have a job, you earn a salary or wages. If you run a business, you earn a profit. - Passive income is money you earn by investing. For example, if you invest in stocks...