TLE 6 Allocation of Family Income and Budget

Management of income and expenses that affects the family

• Family Feud

• Family Finance

• Family Planning

• Family Assets

Monetary payment received by family members for goods and services offered.

• income

• expenses

• assets

• liabilities

Refers to the money paid by the family for goods and services that it gets.

• income

• expenses

• assets

• liabilities

This gets the biggest share in the allocation

of your family income.

• utilities

• shelter

• food

• savings

These are paid on a monthly basis such

as electricity, water, telephone, and internet bills.

• utilities

• shelter

• household operations

• savings

Families renting a house or apartment should have a fixed monthly budget for mortgage.

• utilities

• shelter

• food

• savings

This includes expenses for allowance,

tuition fees, uniforms, books, and school

supplies

• utilities

• household operation

• education

• savings

A separate amount of money for

emergency purposes or for something that will

be bought in the future

• utilities

• household operation

• education

• savings

Budget allocated for

house helper, household supplies, home repairs,

and improvement.

• utilities

• household operation

• education

• savings

Allocated for medical

and dental appointment, medicines, and

vaccinations.

• rest and recreation

• social and moral obligations

• medical and dental health

• clothing