Income is money received for a work or from investments.

For a company to survive, its income needs to be more than its expenses.

People who earn a good salary can buy what they need to survive.

A receipt is given to you after you have paid for something.

A receipt is a proof that you have paid for something.

A receipt shows that something has been paid for.

After paying for something, be sure to get a receipt.

An invoice is a request for payment.

An invoice lists the prices and products being bought.

To invoice someone means to give them a bill for products or services.

Once an invoice is paid it can be used as a receipt.

Taxes are what we pay to the government for government services.

Taxes pay for many services such as education, police and health care.

An income tax is a tax on your income.

In some countries, income taxes are very high.

Interest is what we pay to lenders when we borrow money.

If someone lends you money, you pay interest for the use of that money.