Income & Assets

Income refers to the money you earn regularly, usually through employment, investments, or other sources. It’s the flow of money into your possession over time, like your salary or rental income.

Assets, on the other hand, are items of value that you own. They can be tangible, like real estate or a car, or intangible, like stocks or savings accounts. Assets represent your wealth at a specific point in time.

In summary, income is the money you earn periodically, while assets are the items of value you possess at a given moment.