Income & Expenses

Where money comes from and where it goes

Where Money Comes From and Goes

Income is money that comes IN — from jobs, businesses or grants. Expenses are money that goes OUT — for rent, food, transport and bills. If your income is more than expenses, you can save. If expenses are more than income, you have a problem (debt).

Example

A Family's Money

Income (money IN): • Mom's salary: R8 000 • Dad's wage: R6 000 • Child grant: R500 Total income: R14 500 Expenses (money OUT): • Rent: R3 500 • Food: R3 000 • Transport: R2 000 • Electricity: R800 • School: R500 Money left for saving: R4 700

Note

Remember

Income – Expenses = Savings (or Debt if negative). Most South African families receive income from wages or government grants (like the child support grant). It's important to keep track of all income and expenses to manage money well.

Key Vocabulary

IncomeMoney received from work, business or grants

ExpensesMoney spent on goods and services

SalaryRegular payment received for doing a job

DebtMoney that you owe to someone else

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Income

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