Definition
Take-Home Pay (Net Pay)
The money that actually lands in your account after taxes and deductions.
Take-home pay, also called net pay, is what is left of your paycheck after taxes, insurance premiums, and retirement contributions are withheld. It is the real number your budget should be built on.
Budgeting off gross pay (your salary before deductions) is one of the most common reasons the numbers never add up, because you plan to spend money you never actually receive.