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2 cards from this section. Quick, good the night before a test.
Define money income in your own words.
Think about all types of income in a family.
List two examples of real income.
Consider services that don’t require money.
What does money income refer to?
Think broadly about every way money can come into a family.
True or False: Psychic income is the satisfaction derived from money income.
Consider what makes you happy beyond money.
Create a monthly financial plan for a family with varying income sources. Consider income stability and the impact on budgeting decisions.
Start by listing all monthly income sources.
Evaluate a family scenario where they face job loss. How would their budgeting and satisfaction adjustments reflect real and psychic income changes?
Consider necessary vs. luxury expenditures.
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