Income refers to the money that individuals or households earn over a specific period, typically from work, investments, or other sources. It can come in various forms, such as salaries, wages, dividends, or rental income. Understanding income is essential for budgeting and financial planning. Wealth, on the other hand, represents the total value of assets owned by an individual or household, minus any debts. This includes properties, savings, stocks, and other investments. Wealth accumulation often results from consistent income over time, allowing individuals to save and invest for future growth.