1. This is combined money earned by, the father and mother (if she is working). and other working members of the family. 2. money earned from working as employees of a commercial/ industrial services companies. 3. money earned from selling real estate, insurance, appliances, educational plans, life plans, and the like. 4. money given as addition to a regular income as a recognition for a number of years of service in a company. 5. money granted by the govemment or private companies upon one's retirement from the service. 6. money earned from operating a business. 7. One of the most effective tools to handle money wisely. 1. family income 2. salaries/wages 3. commission 4. bonus 5. pension 6. profit 7. budget

2. OBJECTIVES
At the end of the lesson, you are expected to:
1. Define family income;
2. Enumerate the resources of family income;
3. Define budget;
4. Discuss the components ( basic and social needs) of the budget;

3. Today's lifestyle has
changes- from a
home-centered life
to a life practically
spent outside the
home.

4. This is combined money earned by
the father and mother (if she is
working). and other working
members of the family. It represents
the total amount of money that goes
into the family treasury at the end of
a period. Also it comes from the
family business.
Family Income

5. 01
Family income can be derived from one or a combination
of these sources.
1. Salaries/Wages-money earned from working as
employees of a commercial/ industrial services
companies.
2. Commission- money earned from selling real estate,
insurance, appliances, educational plans, life plans, and
the like.

6. 3. Bonus- money given as addition to a regular
income as a recognition for a number of years of
service in a company.
5. Pension-money granted by the govemment or
private companies upon one's retirement from the
service.
6. Profit money earned from operating a business.

7. MANAGING THE FAMILY INCOME
Today's family income has become
bigger and bigger with more
members of the family earning a
living. With the increase in income,
there is a corresponding increase in
expenditures. Expenditure should be
planned so that it does not exceed
the income. To be able to do this,
preparing a budget is necessary.

8. BUDGET
One of the most effective tools to handle
money wisely is a budget. A budget is a list
of Items of expenditures that one plans to
spend in a given time with a given income or
amount. It is not only a plan for spending it is
also a plan for saving. Some say that a
budget is spending for the future. This
includes savings and investments intended
for the future of the children or the family in
general.

9. Why is a budget important? Why does one need to list
down all expenses for the future?? Having a list helps
you to:
1. Balance your income and expenditure. If your
expenditure is greater than your income, you end up in
debt. If your income is greater than your expenditure,
then you have savings.
2. It gives a feeling of comfort and satisfaction knowing
that your income is enough for the expenses of the
family

10. 3. It enables the family to list down its needs and wants
and to prioritize the needs more than the wants.
4. It gives the family a full and better knowing that the
needs are satisfied first before the wants.
5. It is constant reminder that you are in control of the
firiances, thus reducing worries, tension, and stress.

11. Thank you