If your not familiar with gross month income, we will describe it right here.

What is the main difference when comparing net and gross month income?

If your not familiar with gross month income, what it is and how it is used, we will describe it here for you briefly. In summary gross is your real income, and your actual earnings. It is the aamount you get to see but not keep and your take-home is whats left after all the deductions from taxes, medical benefits or anything else that is be garnished from your wages. Now just how the banks see your income is a very different than just looking at the net amount. Here is just how financial institutions see it.

Spending a lot of years in the trenches selling cars get down and dirty on the line has taugh me a couple of skill that I can take with me anywhere. You would be suprised at how many people do not comprehend exactly what they really make at their day jobs. I do not believe these individuals are dumb, they just lack solid information and wisdow in finance and how money really works.

Lets take Kenny, Kenny doesn't know what he really makes. I ask Kenny and he replies he doesn't know what his gross monthly income is, which is fine. Here is what I ask Kenny to figure it out.

Kenny what do they pay you for every hour you work? He respond with "$15 per hr" and then I would certainly replied with "how many hours each week do you work?" Kenny reply maybe something like "30 hrs a week", "Any over time Kenny?" "NO" he would respond. This means his gross would look something like this...

Here is the method of how a financial institutions may calculate you gross monthly income.

$15 each hr times 30 hrs every week, = $450 weekly times 4.3 weeks in the average month would certainly appear to be $450 times 4.3 equals = $1,935 is what he was creating for his gross monthly income. And this is exactly how big bank organizations do it.

This is exactly what you need to knwo to be prepaed for those huge decisons. Like buying a house or a car that you need to finance, because that is one of the main factors the banks are going to ask you about?  What is your gross monthly income, now you have an answer to such a question!