SOURCE O F FA MI LY

INCOME
INCOME
Regular Income Irregular Income

Source
of
Family
Income
 Mang Greg and Aling Dora have several
sources of income. Both of them are government
employees. Mang Greg has a meat stand at their
local market, Teodoro Arcenas Trade Center
while Aling Dora has a small vegetable garden in
their backyard which she harvests weekly to be
sold in the market every Sunday.
WHAT IS FA M I LY I N C O M E
 A family income is a combined money earned
by all the members of the family who are
working. The income is used to buy goods and
services required for daily living.

Family income can be classified as regular

and irregular income.
REG U L A R I N C O M E
 Regular income is received on an ongoing basis
and timing and amounts involved tend to be
predictable.

1. Wages and Salaries

Salaries are paid fixed amount per period like
30th day of every month while wages are money
received for a pay rate per hour from rendering a
service.
2. Pensions
Pensions are money granted by the
government or private comprises upon one’s
retirement from service.
3. Short Time Work Support
Short time work support is a form of
Jobseeker’s Benefit and an income support
payment if you have been temporarily placed on a
shorter working week.
4. Fees from Services
Fees from services are money paid to a
professional person or group of people in exchange
for advice or services.

5. Fees from Rent

Fees from rent are money paid by a lessee on a
regular basis and in the same amount.
I R R E G U L A R I N C OM E
 Irregular income is far less predictable and
will only be received from time to time. There is
also less certainty about the amounts involved.
1. Overtime Payment
Overtime payment is the amount received by a
worker for working beyond regular hours. This
depends on the agreement between the employer
and the employee.
2. Bonus Payment
Bonus payment is an amount of money given
in addition to a regular income as a reward for
good performance or for a number of years of
service rendered.
3. Commission
Commission is an incentive pay to certain
individual from insurance, selling real estate,
appliances and educational plans.
4. Profit
Profit is a financial gain earned from operating
a business.
Directions: Study and analyze each sentence. Copy
and box the correct answer. Do these on a separate
sheet of paper.

1. It is a financial gain earned from operating a

business.
(profit, salary, bonus)
2. It is fixed regular payment typically paid on
daily, monthly or biweekly basis.
(commission, salary, pension)

3. It is a payment made during a person’s

retirement as a government/ private employee
during his/her working days.
(pension, salary, profit)
4. It is the amount of money given as addition to a
regular income or as reward for good performance.
(bonus, profit, wage)

5. It is an incentive pay to certain individual from

insurance, selling real estate, appliances and
educational plans.
(commission, wage, profit)