Why is psychic income important

Money income is one of the important material resources of the family. Money income controls the basic standard of living and the additional comforts enjoyed by the family. Money income may be converted into goods and services, whenever required by the family.

Some parts of money income may be diverted into savings for future use. Money management includes the management of family income. As money is a limited resource it must be managed properly in order to achieve family goals. Money income is called a flow as it is received regularly. Real income is the flow of goods, services and community facilities available for a specific period of time. All types of knowledge and services Household activities provided by the members of the family.

Community facilities like parks, markets, hospitals, roads, schools, colleges, libraries, dispensaries, fire and police protection, community entertainments, social centres etc. Proper utilization of all these can increase the real income of the family. Another concept of real income is that it is the goods and services that money income will provide. The potential quantity of Real income available for any family is impressive. The way families make use of all forms of real income is important.

It depends upon the managerial ability of the home maker. It means a family receives different facilities without paying for them. For example, free well furnished house, telephone at residence, vehicle for private use, hospital facilities etc. It refers to the commodities and services received by the family members on payment. For example, vegetables from the kitchen garden, milk from the diary farm etc. These things can be used by the family or may be sold in the market.

This income is the flow of satisfaction derived by the family from the use of money income and real income. He was doing well in all aspects and thus gained good name and fame among all the people in the town. In the same town there was an old man who wanted to make fun of him and spreads rumors on him.

The negativity spreads wildly within a short time. The young man identifies the person who started the negative comments and files a case against him for spoiling the name.

The accuser was called to the court and was enquired about passing the comments on him. The old man agrees that he has done it. The judge warns him and fines him. The old man says why should I pay him? What loss did I make to him? I just made comments for fun. The judge scribbles something on the white paper and gives to the old man asks him to tear the paper and throw outside the court and come.

He obeys without any hesitation. The court was adjourned for the day and re called on the next day. When everyone reassembles on the next day, the judge asks the old man to collect all the pieces of paper which he had thrown yesterday. The old man says how I can do that they are shattered. They have damaged the personality of the good man. It takes lot of time or may not be possible to rebuild the same status.

Though the accusation did not cost him anything, though there is no change in the physical or demographics, the young man may not be having the same psychic income as he had before the stigma made by the old man.

A latest survey that was executed in an organization explained us that most employees derive their psychic income from non-monetary milestones. In this competitive business world Psychic income at work place refers to power, prestige, respect, recognition, challenge, love of the work itself, opportunity for autonomy, location in a particular community, technologies that make work less drudgery, flexible hours, fame, etc.

This word can be alternatively used as intrinsic motivation. It is the satisfaction that an employee derives from the work for its own sake. Interestingly, the Psychic Income is absolutely tailor-made to each individual. For some it could be power, while for some other it could be position. I ask Atefeh and Monir if they see dancing as a form of income in the future, a potential career. The former provides entrepreneurial training and educational programs for youths from low-income urban areas around the world.

Government grants amount to about two-thirds of the income, the balance being raised by public subscription and from fees. Oh, but surely if we have to call ourselves Wurzel-Flummery it would count as earned income.

They are raised on the strictest scientific principles and yield me the greater part of my income. Nine-tenths of those who have a competence know what income they have, and are careful not to spend more.

With his vast income, acquired from the spoils of nearly every country in Europe, he maintained his high rank in lordly fashion.