For all of you newcomers who are just joining us, this video is part of a series called #BrokeUniversity where we break down the most important personal finance basics in 90 second videos.
On Friday, we talked about how wealthy people think about income differently than everyone else. We even discussed a few ways you can boost your income starting today.
But your income doesn't equal your take-home pay. You need to pay several parties before you get your paycheck. Here's a breakdown of who you need to pay and how much they're ultimately getting.
Did you miss the first five #BrokeUniversity classes? Check them out!