Tatawwar

Course Modules

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Module 1	Financial Literacy
Unit 1	Financial Literacy PreTest
Unit 2	5 Reasons Why You Need a Financial Plan
Unit 3	5 Common Sources of Income in a Household
Unit 4	3 Main Categories of Expenses in a Household
Unit 5	3 Steps on How to Create a Yearly Budget
Unit 6	4 Ways to Implement Good Budgeting
Unit 7	4 Essential Formal Financial Services that you Should Know About
Unit 8	Financial Literacy PostTest

Unit Video

Unit Summary

Any source of money received by a household, usually on a regular basis, is called “Income”.

Five common kinds of income in a household:

Salaries
Sales of products or services
Pensions
Profits from investments
Gifts or Remittances

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What are my yearly sources of income and how much is the total? Is there any way I can increase that income?

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Transcript

Hi. In this video, you will learn about the 5 common kinds of income sources in a household.

Where is money entering your household coming from? Your daily job, maybe extra cash you receive from after school tutoring, spouse’s income or a long distance family member helping out with your expenses.

Any source of money received by a household, usually on a regular basis, is called “Income”. A household needs income to meet its basic needs and to enjoy the wants it desires.

Here are the five common kinds of income in a household:

Salaries: a fixed sum of money, usually received every month, for doing a particular job.
Sales of products or services: making your own money by selling products or services. It can also be money received from selling handmade goods or providing vocational services in your free time. This can be a side income received in addition to your main salary.
Pensions: money received regularly, during years of employment, to be saved for retirement.
Profits from investments: for example, buying a property; hoping its value increases over time giving you profitable returns. Also, buying bonds or stocks can help you gain money from their profits (to be explained later in the coming courses).
Gifts or Remittances: rewards or money received without an effort. Usually money received from family working abroad to help in household expenses.

Without income we cannot survive and the more income we make the more chances we get to live life in our own way. So start working on increasing your income levels!

5 Common Sources of Income in a Household

Financial Literacy

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Course Modules

Course Modules

Unit Video

Unit Summary

Any source of money received by a household, usually on a regular basis, is called “Income”.

Five common kinds of income in a household:

Salaries

Sales of products or services

Pensions

Profits from investments

Gifts or Remittances

Build Your Action Plan

Dig Deeper

Transcript

Hi. In this video, you will learn about the 5 common kinds of income sources in a household.

Where is money entering your household coming from? Your daily job, maybe extra cash you receive from after school tutoring, spouse’s income or a long distance family member helping out with your expenses.

Any source of money received by a household, usually on a regular basis, is called “Income”. A household needs income to meet its basic needs and to enjoy the wants it desires.

Here are the five common kinds of income in a household:

Salaries: a fixed sum of money, usually received every month, for doing a particular job.

Sales of products or services: making your own money by selling products or services. It can also be money received from selling handmade goods or providing vocational services in your free time. This can be a side income received in addition to your main salary.

Pensions: money received regularly, during years of employment, to be saved for retirement.

Profits from investments: for example, buying a property; hoping its value increases over time giving you profitable returns. Also, buying bonds or stocks can help you gain money from their profits (to be explained later in the coming courses).

Gifts or Remittances: rewards or money received without an effort. Usually money received from family working abroad to help in household expenses.

Without income we cannot survive and the more income we make the more chances we get to live life in our own way. So start working on increasing your income levels!