How do I calculate my monthly income?

Your monthly income is how much money you take home each month after taxes. 

Your income includes: 

  • Current or expected salary
  • Wages
  • Bonus pay
  • Tips/commissions
  • Dividends
  • Rental income
  • Retirement benefits 

You may also include other sources of income if you’d like, such as: 

  • Alimony
  • Child support
  • Public assistance
  • Separate maintenance

Please note - you do not have to include these other sources of income. 

How to check your monthly after-tax income:  

  1. Look at your paystub(s) for the last month.  
  2. Find the box or line called “net pay.” Your net pay is how much money you make after taxes. 
  3. If you get paid more than once a month, add up the net pay amount for each of your paychecks for the month to get your total monthly income. 
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