SOURCES OF

FAMILY INCOME
FAMILY INCOME
 refers to the money
earned by the family
members from their
employment which the
family uses for their
foods, shelter, clothing,
and education of the
children, health and
dental check-up and care
and also for some other
needs.
 It also refers to the
monetary payments
received by all family
 members for the goods
and services rendered.
Therefore “Income “is the
money that comes in the
family.
The most familiar form of
income is “money”.
Money is what the family
use to purchase their
needs and wants.
 Money is an example of
Non-human resources.
The family or an
individual can have their
money or income from
the different sources.
Source of Income of the
Family :
1. Employment wage or
salary - (work) public or
private employment.
Some parents or members
of the family are private or
public employees.
2. Profits from business
and investments – from
share of stocks, and
bonds that add income for
the family. This also
includes profit made from
operating business.
3. Rentals – lease from
properties leased like
apartment, owned real
estate properties.
4. Dividends - from
investment or savings,
share of stocks or from
Money marketing.
5. Pension – money
came from GSIS or SSS or
Veterans pension, Senior
Citizen Pension.
6. Commission or
Bonus –some family
income came from reward
or incentives from selling a
product or properties
7. Royalty and
copyright -a member of
a family got money from
writing a book, writing a
song or invented of a thin.
8. Planting / Farming -
vegetables farming or Rice
farming can bring income
to the family even planting
an ornamental plants can
also be a source of
income.
9. Fishing – fishing is the
common source of income
of those families who are
living along the coastal
areas or along the sea
some are having their fish
ponds and became the
source of their income.
10. Animal Raising -
piggery/swine/chicken/co
w/goat raising bring
money also into the
families.
EXPENSES - refers to the
money paid by a family for
goods and services they
get or payments, or
reimbursement for services
rendered and goods
purchases made by a
family or a person.
Expenses takes money out
of the family.

Two types of expenses:

1. Fixed expenses
-these are the expenses
that occur regularly within
a period of time and more
or less the same amount.
Examples:
 school fees
 rentals
 water bills
 electricity bills
 food
 transportation
2. Flexible expenses
- are the expenses that do
not come regularly
Examples:
 Clothings
 Recreation
 Entertainment
  Donation
 Medical
 dental care
 other emergency
expenses.
Points to remember:
➢ There are two
important things when we
speak Family finance
Income - brings money
in the family while
Expenses - takes out
the money from the
family
A. Fill in the blank/s with
the correct information:
___________1. Income
and expenses means.
___________ 2. It brings
money in the family.
___________ 3. It takes
out money in the family.
___________ 4. The
expenses that occurs
regularly is called.
___________ 5. Expenses
for clothing and recreation
is an example of
B. Enumerate at least 5
main or common
sources of family
income:
1. ___________________
2. ___________________
3. ___________________
4. ___________________
5. ___________________
C. In a few words what is
the difference between
income and expenses?