The word annual means "happening once per year," or "covering the period of a single year," so an annual income is the amount of money received over the course of a year.
If you divide the annual income by 12, assuming a steady rate of pay, you will get the monthly income.
So if the annual income were $60,000 it means that $60,000 would come in over the course of one year, and dividing that by 12 we find that each month $5,000 would be received.
One of the best ways to increase your income is through salary negotiations, either when you're first offered the job or during a performance review. It may make you uncomfortable, but it's extremely important. Here's how to get what you want out of a negotiation shared by Lifehacker.com.
Budgets and penny-pinching are all well and good, but if you're looking to give your income a serious lift, there is no substitute for entrepreneurial grit. Check out 6 ways on how to boost your income in a big way at Bankrate.com.