Now- a- days human society is passing through a very hard time. People gather more resources to get the modern comforts. In this context income source of the family, stands in forefront for all-round development. Therefore each individual of the family is keen to earn.

Income, literarily means money sources or capacity to earn. The family is a social structure consisting of hereditary members living under one roof with a composite living style. But the family definition now has been radically changed to a great extent. People want to maintain a small family of European style consisting of husband, wife and one or two children. Therefore, family income in a large way differ from different families.In the Indian context family earnings are directly linked with the resources such as human and non-human resources. For a steady family income it is necessary to utilize the human and non-human resources properly for example- Literate and educated members of the family should have been utilized properly in the money generating process either employment or business etc. Similarly, non-human resources like agriculture and animal resources if available should be handled properly to add to the family income. Besides, home made things like handicrafts, stitching, designing art and printing and small scale industry should be started in the family level as per the knowledge, skill and aptitude of the members to add the family income.

In case of surplus balance money can be properly invested with some financial institutions to get additional income of money in regular manner. Hence now –a-days capital investment in proper ways can add to the family income.

Off time management can be possible to add the family income. It depends upon the attitude and skill of the members. Home made items like “PAMPAD”, “BADI”, “PICKLE” etc. can be prepared and marketed to add the earnings by utilizing the off time available to family members. Processed milk products can also be made at home and sold to add the income.

In 21st century, with concept of Globalization the people of the world are nearer to each other. By this, we can learn the pattern of living habits very much suitable to mankind for better survival from the people of developed countries.

As per Europe and American concept, family income is very much job oriented than anything else. Therefore, they always prefer to provide their children with fail start by maintaining the CDF (CHILDREN DEFFENCE FUND) family income that work to strength every families to provide better education, so that better jobs will be available to their children for fetching more money. In this way the family income will be a sustainable and fitting one to the Modern society.

Family income as per (N.C.H.S) National council of Health statistics emphasized an wages, salaries, rents from properties etc, under the prospectives of family income. Improved family income is directly linked with normal health, improved educational sphere, better earnings through wages and salaries. Statistically, it is estimated that, in business sphere if better knowledge and shill will be applicable, there will be better turn over. In this way money flow to the family will be steady and sustainable. So, that welfare and developmental process will continue.

From above information’s in the present day modern society, we must give importance to HRD-Human Resources and Development to improve the financial resources of the family. Actually income is a technical term derives from Economics depend upon the resources on which a family is set up. In these resources on which a family is set up. In these resources, Human resources is a major item, which based an knowledge, skill and ability of the family members for a steady and sustainable growth of family income. Family income is directly linked with the family welfare.

PROBLEMS OF LOW INCOME

In comparison to European countries, our nation is struggling hard to rebuild for the betterment of its individuals. Still we see people are living below poverty line in our country due to lack of desirable income. At the result of low income process different social problems arise in sphere of education and knowledge, health matters and unstable liking pattern. Therefore, thinking of welfare for these class of people or families is difficult affair for the Government and social organization.

Under such circumstance Government and social organizations should think of and formulate effective plans and programme, for development of these groups of individuals.

1. Effective survey and proper identification of families.

2. Health care for parents and children should be provided.

3. Applied nutrition program and necessary feeding management should be provided.

4. Skilled, knowledge and aptitude should be developed by providing off campus training. In this way human resources can be developed to certain extent.

5. Side by side efforts should be made to increase and developed the non-human resources with Government or non-Government enterprises, so as to create employment generation for low income groups.

6. Effort should be made to create working days for labourers for the entire year.

These are some of the proposals for increasing income sources for lower income category.

FACTORS RESPONSIBLE FOR STEADY INCOME

1. Activities facilitating supplementing family income are to be identified and worked out properly.

2. Knowledge and skill are to be developed for different types of employment opportunities.

3. Vocational education should be provided.

4. Basic and Primary education should be available to all at free of cost.

5. Proper health care services should be provided.

6. Everyone in the family should explore and utilize his/her skill, knowledge and aptitude to earn and add to the family income.

7. Income and expenditure ratio should be maintained in a balance manner.

Therefore, it is needed to rebuild a better nation. In a sustainable and fair family income the child power is safeguarded and proper education for better job is provided. This condition is vice-versa in case of children of lower income group.

In this manner family income is most important for Human Development; by which all round social development is possible. Apparently family income is a combination made by the resources like Time Scale, Energy and Abilities of the family members which converts to money, comes directly as cash to the family. By this way utilizing the money power we provide welfare to the family and its members.

* We can meet the inflation by diminishing certain expenditures.

o In a sustainable income growth we can achieve the individual and family goals.

o We can improve our standard living par with any welfare family with a steady income.

o We can save money for the future unforeseen causes, if we have a growth of income.

In certain conditions for the growth of family income we may try and tap the following points, which are mentioned below :-

* Encouraging part time employment as per the knowledge, skill and aptitude.

o We can utilize idle man power in the family by engaging them to earn some thing from “Kitchen Garden, poultry farm, cottage Industries. In this manner we can add some earning to our family income.

At this age of development every individual should try to improve himself and monetary help to the family so that all round development of the society is possible.

1. Create a personal trading journal. Write in this journal every trading day to record your trades, a brief explanation of what caused you to place the trade, and an assessment of that particular trade performance. Make notes about any upcoming major economic events or news that can cause market volatility for a particular day and avoid trading until you have a clearer picture of the day market action.

2. Determine your risk / reward ratio. A risk / reward ratio of 1:2 means that you can risk a certain amount to get at least double that amount in return, if everything goes according to plan.When you are new to FOREX, it is sometimes better to trade conservatively and use a very strict ratio closer to 1:1 and not risk more than 2-3% of your total capital per trade execution. In this struggle, survival everything.3. Not burn yourself out, take breaks from trading. Although it is important to examine as many FOREX resources as possible when you start trading on the foreign exchange does not kill you makes. It’s a good idea to take a break from trading ever now and then. Remember that FOREX is open 24 / 7, so there are always good opportunities out there, and they will still be there waiting for you when you take some time out for yourself. All that great knowledge you have is useless if you are under stress to effectively use it. Set daily goals, such as X-grains per day up or down and then stop for the day. This helps fight greed and chasing losses, two of the most powerful enemies! Follow these important tips and apply them to your daily trading routine and do not forget the golden rule in Forex trading … Take advantage of probabilities, maximize your profits!

Coins are extremely easy to handle and store, in contrast to bars or bullion, which is not. They are manageable in size. They are easy to hide for the sake of security, and they are not heavy, so are easy to carry from place to place. This makes their sale much easier than bullion.

Coins are also very easy to buy. The buyer only has to check the karat and percentage. These should be 24 k and .9999 percent, respectively. When buying or selling bars, they must be assayed. This means involving transport and a third party, all which make for a security problem. This is not true for coins.Collectible gold coins are not only a beautiful acquisition; they have a history behind them. They have been in circulation for some period of time. The following coins are not all that are collectible, but are the major ones.

American Gold Eagle Coins

These coins are beautiful, one of their pluses. They are considered possibly the most beautiful of all coins. A nest of eagles is on the reverse side, and a walking liberty on the obverse side. They were minted and issued as $20 with a $20 face value. They can be bought directly from coin dealers or at auction, such as at Ebay. Of all coins collected and traded, they are the most traded. They consist of 91.67% gold and are 22K. This is below the desired standard, but because of their beauty they are still much desired.

Canadian Gold Maple Coins

These coins rival the Gold Eagle coin for beauty, and are even considered the most beautiful in the world by some. They are the most pure, consisting of .9999% 24 karat gold. They are inscribed on the obverse side with a bust of Queen Elizabeth II and the maple leaf on the reverse side. They are legal tender in Canada, and can be purchased from most coin dealers.

Gold Krugerrand Coins

The South African president, Stephanus Johannes Paul Kruger is the figure depicted on this coin. Due to several adventure movies featuring the coin, it became very famous. It contains a full ounce of gold, one of the first to do so. It can also be obtained in one-fourth, one-half, and one-tenth ounce sizes. Though they are not beautiful like the Gold Eagle and Maple Leaf, they are nevertheless at a premium due to their popularity. They can be gotten at most coin dealers, but demand a high price.

Silver Collectible Coins

These coins have all the advantages of gold coins, except the beauty. Most of the silver coins are not considered nearly as beautiful as the gold coins. Most investors actually collect the junk dime, because it is so cheap, readily available, and result in the best investment. Silver has risen in price much more lately than has gold; making these silver coins the better investment. Still, the beauty of the gold coins can’t be discounted. Collectors tend to collect them for their beauty as well as their investment. In a time of great economic catastrophe, though, beauty might not be such a consideration.

In summary, the advantages of coins are that they are relatively easily obtained and have almost nonexistent buying and selling costs. They can be stored locally and handled with ease. They are readily available to the collector to admire. Coins are also easily recognizable and can be assumed to have certain known traits, though if they have been tampered with, this won’t hold true. Tampering will probably be evident, however.

When thinking about your retirement income one of the first things to research is your entitlement to a State Pension

The amount you will receive from your State Pension can differ depending on your circumstances.

The Department of Work and Pensions will be able to provide you with a forecast in regards to your State Pension. This will allow you to see how much State Pension you can expect.

Company Pensions

Your employer may offer you a Company Pension. Once again there are different Company Pension schemes and the Company Pension you are offered will depend on your employer.Your employer may offer:

A Final Salary Company Pension Scheme

With this type of Company Pension scheme the benefit amount that your Company Pension will pay out will be based upon your final salary and also the number of years that you have worked for your employer

A Defined Contribution Company Pension Scheme

With this type of Company Pension scheme the benefit your Company Pension will pay out will be dependent on contributions made to it throughout your employment

With both of these types of Company Pension your employer will make contributions and you may also be required to do so.

With a Company Pension it is usually possible for you to make voluntary contributions if you wish to do so.

Due to the complex nature of Company Pension schemes you may find it useful to talk to an Independent financial adviser for Pension advice

Personal Pensions

A Personal Pension can be used by people wanting to ensure that they have the necessary income upon retirement.

A Personal Pension can be taken out by any UK resident under the age of 75

Commonly a Personal Pension are used by people who are Self-employed.

Usually a Personal Pension operates on the basis of Defined Contributions. In short the amount of benefit you would receive from a Personal Pension will depend on the amount you contribute to it among other factors

Your Personal Pension would have an Investment element and the performance of this investment can have a significant effect on the income you will receive from your Personal Pension. If you are looking for a Personal Pension, you will find they are offered by many different providers from banks to Supermarkets. However, given the importance of this investment, it may be an idea to get independent advice

Stakeholder Pensions

Once again a Stakeholder Pension may be taken out by any UK resident below the age of 75 and are available to purchase from various outlets.

A Stakeholder Pension usually operate on a Defined Contribution basis and the income you acquire from a Stakeholder Pension will be based upon your contributions as well as a number of other factors

It is worth noting that from April 2012 employers will be required by law to make contributions to Stake Holder Pensions

Preparation is Key

Obstacle to Achieving Financial Independence The lack of a plan is why many dentists who earn a tremendous amount of income fail to secure their financial futures. I often meet with dentists who have not established specific goals that identify how much they will need to retire and, therefore, have not yet projected a date when they can do so.Time is of the Essence Now” is an ideal time for a financial examination. You cannot afford to fall through the trapdoor of procrastination. Because of your compressed earnings cycle, you cannot continue to risk substantial investment losses like we have seen in this current recession. While the potential for investment losses cannot be eliminated, it can be mitigated by prudent and strategic planning with the assistance of the “right team” of trained professionals. You don’t have the time to start over again without solid plan.