What is income?

Income is the money you get when you do something that others want or need.

Imagine you have a lemonade stand. Every time someone buys a cup of lemonade from you, they give you some coins or paper money. That’s your income, it's like the treats you earn for sharing your lemonade with friends and neighbors.

When you help someone out, like mowing their lawn or delivering newspapers, they might give you money as a thank-you. That money is also your income. It’s like getting extra candies after doing a chore that makes your parents happy.

Income can come from many places, just like how you get treats from different people, sometimes from your mom, sometimes from your dad, or even from a neighbor who likes your lemonade.

Having income means you can buy more lemonade, save some coins for later, or even buy a new toy. It's like having a piggy bank that fills up when people say "thank you" with money!