LESSON 3

1. SOURCE OF
FAMILY
INCOME

2. FAMILY INCOME – as the money earned plus the goods and
services received and created by family
members during a specific period of time.
MONEY INCOME – is the type of income that is in the form of
currency, bills, coins and cheques usually
received in the form of wage or salaries.
REAL INCOME – is the type of income that is in the form of flow
of goods and services available.
TYPES OF INCOME

3. • 1. fresh fruits and vegetables from a farm or backyard garden;
• 2. eggs from raising poultry.
• 3. meat from livestock farm.
• 4. goods received from rendering services; or
• 5. goods received as gifts or donations.
• 1. Carpentry, Plumbing, Painting or Electrical installations;
• 2. Tutorial services or
• 3. Baking, Cooking or Catering services.
SOURCES OF REAL INCOME FOR GOODS
SOURCES OF REAL INCOME FOR SERVICES