1401454
Description
Mind Map by francesca-parrot, updated more than 1 year ago
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Created by francesca-parrot
over 10 years ago
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Standard of living
- defined as a measure of the
goods, services and luxuries
available to an individual or
household once the basic
necessities are met
- FINANCIAL RESOURCES AVAILABLE
- financial resources could include inform from
employment, welfare benefits and investments.
- the cost of running a home
means that many
households & family groups
require more than one wage
to maintain an acceptable
standard of living.
- the reliance on two wages to buy and
maintain a home means many households
are increasing the risk of financial hardship
should one of the wage earners become
unable to work
- the reliance on two wages to buy and
maintain a home means many households
are increasing the risk of financial hardship
should one of the wage earners become
unable to work
- financial resources could include inform from
employment, welfare benefits and investments.
- THE NUMBER OF PEOPLE
- The number of people in a
household or family group can
influence the standard of living.
- Large houses need large incomes to
maintain a high standard of living.
- The collective income of a large number of
people living together could allow for a high
standard of living.
- The collective income of a large number of
people living together could allow for a high
standard of living.
- Large houses need large incomes to
maintain a high standard of living.
- The number of people in a
household or family group can
influence the standard of living.
- THE NUMBER OF DEPENDANTS
- The dependant members in a household or
family group could include children, the
elderly the unemployed or the disabled.
- These individuals may only make a limited financial contribution
but require a greater proportion of the resources.
- A household with many dependant members can have
a lower standard of living if the financial resources do
not meet their needs.
- A household with many dependant members can have
a lower standard of living if the financial resources do
not meet their needs.
- The dependant members in a household or
family group could include children, the
elderly the unemployed or the disabled.
- THE PROFESSION OR OCCUPATION OF INDIVIDUALS
- A household or family group with one
or more high earning members may
have a relatively high standard of living.
- Certain professions or
occupations command
greater salaries than others.
- The level of education may contribute towards the
standard of living.
- Graduates can earn more than
non-graduates although this can be
moderated by the repayment of student
loans.
- The level of education may contribute towards the
standard of living.
- A household or family
that depends on it's
income from unskilled
manual work or
part-time work may
not have a high
standard of living,
particularly if there
are dependants in the
groups.
- Certain professions or
occupations command
greater salaries than others.
- A household or family group with one
or more high earning members may
have a relatively high standard of living.
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