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Income Sources Chart

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Income Sources Chart worksheet preview

Income Sources Chart

Income sources illustration

💰 Part 1: Identifying Income Sources

1. Which of the following is an example of earned income?

Birthday money from grandparents

Wages from a part-time job

Money borrowed from a friend

Finding $5 on the ground

2. Check all the income sources that must be paid back:

Loan from the bank

Christmas gift money

Money borrowed from parents

Pocket money for chores

3. Circle the most reliable income source for budgeting:

Birthday gifts once a year

Weekly pocket money for chores

Finding money occasionally

Borrowing from friends when needed

4. Match each example to its income type by writing the letter:

A) Job B) Gift C) Loan

____ Babysitting money

____ Money from Nan for good grades

____ Borrowing $20 from your brother

____ Paper delivery wages

📊 Part 2: Create Your Income Sources Chart

5. Complete this chart by filling in the positive and negative aspects of each income source:
Income Source Type Positive Aspect Negative Aspect
Part-time job Earned _________________ _________________
Birthday money Gift _________________ _________________
Loan from parents Loan _________________ _________________
6. List two more income sources you might have and categorise them:

Income source: _________________________ Type: _____________

Income source: _________________________ Type: _____________

🤔 Part 3: Budget Impact Reflection

7. Imagine you receive $50 from these different sources. How would each affect your spending decisions?

$50 from a weekend job:

$50 as a birthday gift:

$50 borrowed from family:

8. Why is it important to know whether money is earned, gifted, or borrowed when planning a budget?
9. Which type of income source would be best for saving money for a long-term goal? Explain your answer.

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