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Income Sources Chart

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Income Sources Chart

Read each question carefully. Use the chart to help you answer. For questions asking for an explanation, give a sensible reason.

Recognising Income Sources

1.Which example is earned income?

Aisha receives a $10 birthday present.
Charlotte earns $18 for mowing a neighbour’s lawn.
Ruben borrows $15 from her cousin.
Talia finds a $2 coin at the beach.

2.Select every source of money that the receiver is expected to pay back.

A bank loan
A cash gift from an aunt
Money borrowed from a parent
A regular allowance for feeding the cat

3.Which option is usually the most predictable source to include in a weekly budget?

A possible prize from a competition
A set amount paid every Friday for regular chores
An occasional gift from relatives
Money that might be found while walking

4.Match each example to its income category: job, gift or loan.

Walking a dog and being paid
Receiving money for a celebration
Taking $12 now and agreeing to return it
Earning money delivering community newspapers

Gift
Job
Loan
Job

Read and Complete the Income Chart

Income source

Income and Budget Choices

6.Suppose you receive $50 from a weekend job. Give one reason you might make a different spending choice with this money than with $50 borrowed from a family member.

7.Explain why a budget should distinguish between earned money, gifts and loans.

8.Sione wants to save for a goal over several months. Which source is generally easiest to plan around: a regular paid job, a one-off gift, or a loan? Explain your choice.