1 of 26

SOURCES OF FAMILY INCOME

TLE6HE-0a-2

JUANITO S. BAMBILLA

Teacher

​

2 of 26

INCOME

​

​

​

​

- is money that an individual or business receives in exchange for providing goods or services.

3 of 26

FAMILY INCOME

​

​

​

​

- is the total income earned by all the members of the household.

​

4 of 26

SOURCES OF FAMILY INCOME

​

​

​

​

5 of 26

​

  • Salary earned for services

rendered

  • Bonuses, commissions, or

honoraria given by an

employer to employees

  • Profits earned from business
  • Rentals from owned

properties

  • Dividends from stock holdings

 

​

6 of 26

TYPES OF FAMILY INCOME�

  • Money Income
  • Real Income
  • Psychic Income

​

7 of 26

Money income maybe in the following forms:�

8 of 26

1. SALARY�

  • Monthly salary of all the members who are doing government or private services.

​

9 of 26

2. WAGES��

  • Daily, weekly or monthly wages

​

​

10 of 26

3. RENT���

  • Rent of the house and real estate

​

​

11 of 26

4. INTEREST���

  • Interest of the capital deposited in banks, post offices or from lending money.

​

​

12 of 26

5. PROJECTS�

  • Profits from investment either in business or any other sources.

​

​

13 of 26

6. Sick Benefits�

  • Medical Allowances

​

14 of 26

7. PENSIONS�

  • Money received by retired persons, old age widow and other pensioners

​

15 of 26

8. GIFT, DIVIDENDS, SECURITIES, ROYALTIES ETC�

  • Money income which provides additional comforts enjoyed by the family.

 

​

16 of 26

THE REAL INCOME OF THE FAMILY CONSISTS OF:

​

17 of 26

a. Inherited landed property, which yields crops for the family.

b. Food furnished by a kitchen garden.

​

18 of 26

c. Dairy farming and poultry farming.

d. Durable goods and commodities owned by the family.

​

19 of 26

e. Kneading, embroidery, tailoring, pickling, baking and activities carried out in home.

f. All types of knowledge and services (Household activities) provided by the members of the family.

​

20 of 26

g. Community facilities like parks, markets, hospitals, roads, schools, colleges, libraries, dispensaries, fire and police protection, community entertainments, social centres etc. Proper utilization of all these can increase the real income of the family.

​

21 of 26

PSYCHIC INCOME:�

  • This income is the flow of satisfaction derived by the family from the use of money income and real income. This income is also called as enjoyment income, experienced over a given period of time by the proper utilization of money income and real income. We must maximize psychic income, because our ultimate goal is to derive maximum satisfaction and peace from life. It is in the form of rewards (as in prestige, leisure, or pleasant surroundings) not measurable in terms of money or goods but serving as an incentive to work in certain occupations or situations a creative artist can reap a psychic income that money cannot match.

​

22 of 26

TOTAL INCOME:�

  • Total income consists of money income received over a certain period of time and the real income received during the same period from other sources without spending one’s own money income. The family utilizes this total income to obtain goods and services for the satisfaction of its needs and saves some unused money income for future use, gifts to other persons or payment of taxes.

​

23 of 26

Tips in Wise Spending of Your Income:

​

24 of 26

  • Make a lists of all the things needed at home and their specification.
  • Compare the prices of the products to be bought. Avoid buying things with higher prices than usual.
  • Buy in bulk the things that are needed everyday.

​

​

25 of 26

  • Buy fruits and vegetables in season.
  • Know the substitute ingredients for expensive items.
  • Be familiar with the stores offering lowest prices.
  • Go to a store where you can be assured of good quality and standard price.

​

26 of 26

THANK YOU!