The document discusses non-money income, which includes productive income produced within families and hidden income derived from community resources and fringe benefits. Productive income encompasses household production, where family members contribute by performing tasks for their own use, and service income from the use of family-owned durable goods. Hidden income includes community services, employee benefits, psychic income, and consumer savings, all contributing to a family's overall economic situation without being direct monetary income.

1. Non-money Income
Prepared by
Mr. Eugene Adu Henaku

2. Non-money Income
 Apart from money or cash income (rents, profit, interest, wages and salaries), there are
other forms of income.
 These kinds of income are important because they free money income to purchase other
goods and services that are needed by the family.
 Non-money incomes can be classified into two, they are
 Productive and
 Hidden Income.

3. Productive Income
 This refers to the value of goods and service which are produced within the family
or by individuals for use by the family or themselves as well as the value of goods
owned by the family.
 Productive income includes household production and service income.

4. Household Production
 This refers to the goods and services that are produced by family members within
the family for their use OR they are goods and services that are provided by the
family members for themselves and the family as a group.
 Each time you do some work which uses your labour, time and talent instead of
paying someone outside the family to do it, you are contributing income.
 Examples of household production: the father preparing the family meals, the
mother cleaning the home.

5. Service Income
 This comes from the use of services obtained from the family’s durable goods or
property such as the family car, sewing machine, the house, radio, television etc.
 These give you and the family services that last over a number of years.
 They contribute indirectly to increase income.
 They can also serve as cash reserves as the items can be sold second-hand.
 The prices may not be as when they were purchased but the potential of income to be
obtained can be assessed from time to time.

6. Hidden Income
 Hidden income, income in kind or non-money income include
 Community Income
 Fringe benefits from employment,
 Psychic income and
 Consumer saving

7. Community Income
 It refers to the value of public facilities in the community which are available for use by
the individual and the family.
 These are schools, health clinics, and hospitals, roads, banks, shops, libraries, markets,
police protection, Soldiers that keep peace etc.
 Families pay for these service in small amounts through taxes.
 The government provides these services for our benefits. These free services are part of
our income because we would have had to pay for them if we were to provide them
ourselves.

8. Fringe Benefits
 These are the various kinds of benefits that employees gain from their employer or come
with their jobs. Examples are:
 free medical and health care; paid holiday or leave; free housing or car, educational or
training benefits for themselves, scholarships for their children
 Employee benefits help to increase purchasing power because otherwise the individual
would have to allocate part of his or her cash income to acquire the items or pay for the
facilities.

9. Psychic Income
 This is the feeling of satisfaction obtained from the use of resources.
 This type of income is not tangible and difficult to measure because it
is rather subjective in nature.
 Example: The satisfaction children from the use of the family’s car.

10. Consumer Savings
 This is the money individuals and families are able to save when shopping for goods and
services because they are good at bargaining, they know the market, the quality and
know how to obtain what they want at reduced prices.
 Strategies used by individuals and families to save money when purchasing goods and
services at reduced prices include:
 Bargaining, bulk purchases and seasoning purchases.
 Purchasing second-hand items and clothing and
 Seasonal purchasing; during the periods that goods are reduced for sale.

11. Thank you
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