Definition of Family Income

The concept of family income designates all those income economic that has a family, this obviously includes salary, salary, of all those members of the same who work and who therefore receive a salary and all those others income that can be considered extras, such is the case of, for example, a “changa”, the income that is obtained for entrepreneurship that any of the family members carry out, or that sum of money that is received monthly in concept of rent of some property that is owned.

All that family income will be the one that the family in question will have to cover their basic needs and the rest of the expenses that a family normally has.

It should be noted that family income turns out to be a very important and relevant economic indicator that scholars who produce statistics on levels of life in the different countries they study because it precisely allows us to know the standards of life that exist in this or that geographical place.

But not only here and when it comes to statistics does it matter, it also turns out to be of great importance at the request of loans, since when a company or an entity

financial must answer the request loan of money that someone makes you will study the level of family income before deciding whether to grant it or not.

And not to mention how important it is to know the family income of the different segments of the population for companies that produce goods and services, because precisely through this value they will know to whom to offer their products on time. That is, knowing this value in advance allows companies that produce a certain service to develop a promotional campaign directed directly to the public who will be able to acquire it without problems because it has that income to do it.

Those companies that produce luxury goods will allocate all promotional efforts to reach those high-income families because it is precisely these that will be financially trained to buy them.

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