How Do You Spell TARGET INCOME?

1. Target income refers to the desired level of profit or net income that a business or individual aims to achieve within a specified period. It serves as a financial objective or goal that provides a benchmark for planning and decision-making.

   In business, target income is an important component of the budgeting and forecasting process. It involves estimating and setting a specific income figure that the company intends to earn in order to cover costs, meet financial obligations, and generate a desired level of profitability. This figure is determined by considering various factors such as projected sales revenue, fixed and variable costs, desired return on investment, market conditions, and competitive dynamics.

   For individuals, target income typically relates to personal financial planning and retirement goals. It represents the level of income that an individual or family needs to sustain their desired standard of living, including expenses related to housing, education, healthcare, and leisure activities. Target income for individuals may also involve planning for retirement, aiming to accumulate a certain amount of wealth or income stream to support their lifestyle after they stop working.

   Setting a target income is essential for effective financial management, as it provides a tangible objective to work towards. By evaluating actual performance against the target income, businesses and individuals can make informed decisions and adjustments to their strategies, budgets, and spending habits. It also serves as a motivation to strive for increased efficiency, productivity, and revenue generation to reach or surpass the desired income level.

Common Misspellings for TARGET INCOME

The word "target income" does not have a specific etymology as it is a combination of two words: "target" and "income".

"Target" originated from the Old English word "targe", which referred to a circular shield used in combat. The term later evolved to mean a designated object that is aimed at or focused on.

"Income" comes from the Middle English "incomen", which was a combination of the prefix "in-" (meaning "into" or "upon") and the word "come". It was used to describe money or resources that came in or were received.

So, "target income" is an expression that has been created to describe the desired or planned amount of earnings or financial resources a person or organization aims to achieve.