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Income is money received by an individual or a household

• Regular
  • Wages
    • Payment received for work
  • Jobseeker's Benefit
    • Payment made by the government to those who are unemployed and looking for work
  • State Pension
    • Money the government pay to those who have retired over the age of 66
  • Child Benefit
    • Monthly payment by the government to guardians of children
  • Received at set intervals
• Irregular
  • Overtime
    • Payment to employees for any extra hours they have worked
  • Bonus
    • Payment given to employees at certain times of the year
  • Loan
    • Sum of money that is borrowed from a financial institution that must be repaid with interest
  • Dividends
    • When a person buys shares in a company, they receive payments
  • Received from time to time

Benefit In Kind

• Non Money Income

Needs and Wants

• A need is something you require for survival
• Something you can live without