MONEY THOUGHT:

Gross Pay. Ew.

Gross pay vs Net pay. Bet you’ll never forget which one’s which now.

Gross income is your total salary. It’s what you earn before taxes, benefits, and withholding.

Net income is your compensation after income taxes, insurance payments, contributions to retirement accounts (very important!!), Social Security, unemployment, & Medicare payments (the blasted FICA and FUTA), and any other legal obligations. It’s how much of the pie you get after everything is taken out. Remember, most of those withholdings are benefits that you get back in some way other than straight cash.

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Wisconsin CERTIFIED FINANCIAL PLANNER™ professional and educator Sarah Paulson

THE AUTHOR

Meet Sarah Paulson, your
CERTIFIED FINANCIAL PLANNER™

Although I’m a born-and-raised Wisconsinite – living in Appleton, Wisconsin –

I consider myself more of a world citizen.

True story: once when going through international customs in Amsterdam, the officers asked why they couldn’t find a Dutch residency permit in my American passport.

I bring a big world picture to my money management advice so you can view the wider world, too.
About Sarah

All written content on this site is for information purposes only.
Opinions expressed herein are solely those of Valkyrie Financial, unless otherwise specifically cited.

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