Family Income

Wage- Is the money amount receive daily for rendering

service. Received by unskilled semiskilled, and skilled
workers or blue-collar workers. A salary is the amount of
money received monthly by professionals or white-collar
workers.
IN ADDITION TO WAGES OR SALARIES, SOME FAMILIES
HAVE OTHER SOURCE OF INCOME THIS INCLUDE THE
FOLLOWING:
1.
2.
3.
4.

Dividends from investments in bonds & stock.

Gifts from relatives & friends.
Inheritance.
Rentals from apartments, jeeps, carabaos, and other
properties.
5. Interests from bank deposit.
6. Sales from goods produced in backyard, gardens,
poultry, piggeries, and the like.
7. Royalty from the books and the like.
8. Pension from retirement.
9. Sale of properties.
10.Prizes from raffles and sweepstakes.
Money is not the only form of income in the family there
other forms such as good services are called real income.
While that which comes in the form of satisfaction is called
Psychic income.
Not all times of real income are in the forms of goods
received by te family. One type comes in the form of service
rendered by the members of the family augment the money
income.

Psychic income comes in the form of satisfaction. This is the

most important income received by the family. Good children
give satisfaction to their connection with their study or daily
activities in and out of the home. Comfortable home & good
education and recreation are some of their needs.
The process by planning, organizing, controlling and
evaluating use of the sources to satisfy the family needs and
desire is called income management.
The 1st step in income management is planning this step
involved organizing or prioritizing. The needs of the different
members of the family it should keep all the members well
fed, adequately clothed. and comfortably house. With
necessary attention to health recreation & education.
The next step is the execution of the plan controlling is a
separate step in income management, it is also part of
execution which is through study of how the planned was
followed and the result of the following plan.
Evaluation- the plan may result in the items it contains.

The Family Budget

Planning how to use and spend the money income to get
satisfaction of all Family members is called budgeting. To
have an effective budget there are many factors to
considered. But the 1st is the income the family income
determines the type of expenditure of the budget. The 2 nd
factor is needs of the family values. The 3 rd factor occupation
of the family members. Health is the 4th factor a family
whose members are healthy spend less for medicine than
one with sickly members. The 5th factor is the climate
expenses during the rainy days. The 6th factor is the time of
the year expenses of the family during summer & Christmas
vacations the 7th factor is the social status of the family. The

8th factor is the age of the members. A family composed of

growing members. The 9th factor is the sex of the members
family composed of females.
Food- listened the cost of all food eaten inside the home.
Clothing- includes the cost of all really made clothes and
other materials.
Shelter- meant the money paid for rent or in case of home
ownership.
Operating expenses- include the money spent for fuel,
electricity, water, telephone & other cleaning supplies.
Advancement- includes the money spent driver or
laundress.
Savings- refers to the money deposit in the bank premium
paid for insurance.

Preparation for Budget

The 1st step in the preparation of the budget list probable
sources of money income.
The 2nd step lists your fixed obligations.
The 3rd step gets the net income by subtracting income
expenses.
The 4th step a record of your daily spending on food clothing
shelter operating expenses advancement and savings.
The 5th step preparing a budget allocat the net income for
the different Items.

 There are 2 general investments ownership & creditor.

OWNERSHIP= family receives the title or legal.
CREDITOR= secured by a legal instruments. Whatever forms of
investments the family may decide on the FF. Should be
considered.
1.
2.
3.
4.
5.

Safety of principal.
Income yield.
Anticipated growth.
Base, which considered can be sold.
Amount of management & care required.

Allowance= amount of money given by your parents to meet your

personal needs.
Earnings= came from some income generating activities you may
engage in during your free time.
Gifts= another source of money especially among high schools
student like you.
TIP= other hand money received after rendering an
extraordinary service.
Money= management is a way of spending and saving the money
you have to meet your needs & wants.

FAMILY INCOME

Group 10

Members:
Cathrice B. Flores
Chedelle Fatima Florido
Mark Anthony Orduna
Gadi Brent Pantaleon
Submitted to:
Ms. Shirbenly Yu
II- Persistence