Household Income and Expenditure First Years

What is income?

• The money a household

  spends and can use to buy

  goods and services

• Regular money into the household

• The money a household

  receives and can use to buy

  goods and services

• Jobseeker’s Benefit

Irregular Income is?

• Money that arrives in different currencies

• non-cash forms of income

• Income received every week or month.

• Income received now and again, or maybe only once in your life.

Restaurant employees receiving free food for their lunch and dinner plus a Salesperson receives a company car, free motor insurance and fuel are examples of what?

(a)  

Do people have to pay taxes on Benefits in Kind?

• They do

• They don't

If Evie has an income of €180, and has expenditures of Bus fare €30, Mobile phone €25

and Credit union savings €40 how much will she have left?

• 85

• 90

• 80

• 75

Which one of these is not a way of increasing your income?

• Extra work/overtime

• Borrow money

• Selling belongings

• Rent a room

Once you have calculated how much income you expect to earn over a

certain period of time, you can begin to plan how much you can spend

during the same period.

This is known as what

(a)  

Which of these is not a type of household expenditure

• Fixed

• Discretionary

• Irregular

• Regular

Long-term or once-off spending is what type of expenditure?

(a)  

Day-to-day or short-term spending is what type of expenditure?

(a)