A common challenge many young adults face during their first year out of college is accurately estimating what their actual take-home pay (also known as net income) will be. Understanding the distinction between gross and net income will be important as you begin building the rest of your budget. If you are already working and receiving a steady source of income, you may already be familiar with how much of your gross salary is withheld for taxes, 401(k) contributions, health benefits, etc. However, if you are not yet employed, there are many online tools that can help you estimate what your take-home pay will be.