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INCOME by Mind Map: INCOME

1. INCOME= Money received by an individual or household

2. REGULAR INCOME = Income received at set intervals eg. wages

3. IRREGULAR INCOME = Income received from time to time eg overtime

4. JOBSEEKERS ALLOWNCE = Payment made by the government to people out of work who are actively looking for a job

5. CHILD BENEFIT = Paid monthly to parents of children under 18 in full time education

6. GRANT= Sum of money that does not need to be repaid given by government or EU

7. BENEFIT IN KIND [BIK]= Non money income given to employees eg company car health insurance

8. NEED= Something required for survival eg food water WANT=Something we would like but can live without eg smartphone