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Business

Househole income

QuestionAnswer
Income Money recieved by household
Regular income Irregular income Recieved every wk month wages Now and again over time
Example of regular and irregular Employed Unemployed income Retired person Student Wages child benifit -R. Christmas bonus or overtime- IRR R-job seekers benefit or child benefit IRR- lottery win casual work Pension free travel R. Win at bingo r presents IRR GRANT R pocket money R. Presents casual work IRR
Benifit in kind Non cash form of income company car ex
Grant Payement made to students while studing in college paid by department of ed and skills
Child benefit Payment made every month to parents or guardians of children while they are still in education paid by dept of social protection
Jobseekers benefit Weekly payment made to unemployed ppl paid by dept of social protection
Overtime Extra time a person works after complteted normal working hours
Why is it important for household to work out a planned estimated imcome ? So u can begin plan spending for that period otherwise u could end up spending more then u can afford
WhT might an unemployed person recieve for benifit in kind Medical card
WhT mite an eldery petson recieve for benefit in kind Free telephone or free elrctricity
What might sales person tecieve for BIK Company car Free motor insurance or free fuel
Created by: Chloeg99
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