Economics: This has never been explained to me, how is income = expenditure?

Posted on 2016-11-17 18:29:00 in Economics by LARA

I still don't get it, and here's why I don't get it... Correct me if I'm wrong. 

Isn't income, money earned? 
And isn't expenditure, money spent? 

They're both different things, Expenditure is the money spent out of income. 

I earned $100 as my income, and my expenditure is $40 a month. Therefore what is left for my saving is 60$. 

Why then say income = expenditure?

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