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Business
Househole income
Question | Answer |
---|---|
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 |