When we use the word income. We are referring to any form of cash flow. The most common type of income is having and working a job. This job will pay you one of two different ways:
B. Money by the hour.
C. Residual Income
a. A salary is a set amount of pay that you would get either by monthly, bi-weekly or weekly that stays the exact same no matter how much time your work (either overtime or undertime). In a salary form of pay you get a set amount and that is it.
b. A Money by the hour compensation plan your pay is in direct proportion of the amount of hours you work. If you work more hours you get more pay, if you work less hours you get paid less.
In either two of these examples, the only way you make money is by doing your work/job. If you decide to quit, not go to work, or otherwise not do your job you income stops.
There are better alternatives. That alternative is a residual income. A residual income does not require you to work a set amount of hours for your to earn money. A residual income usually is made by setting up a system for your to create money without your direct input or job. Meaning if you set up the system correctly one time, you can continually make money from that system indefinitely regardless of you going to work or not.