Family economy
Family economy is like the way your family manages their money. You know how your mom or dad has a job and gets money in return? Well, that money is used to buy things like food, clothes, toys, and pay bills like electricity and water.
Sometimes your family might have a lot of money and can buy whatever they want, but other times they might have less money and need to make choices about what they can afford. Decisions have to be made about what to do with the money, like save it for the future or spend it on things you need right now.
Just like how you save up your money to buy toys or candy, your parents save up their money to buy things for the family. It’s important for families to work together to make sure the money they have is being spent wisely and that everyone is taken care of.
Sometimes your family might have a lot of money and can buy whatever they want, but other times they might have less money and need to make choices about what they can afford. Decisions have to be made about what to do with the money, like save it for the future or spend it on things you need right now.
Just like how you save up your money to buy toys or candy, your parents save up their money to buy things for the family. It’s important for families to work together to make sure the money they have is being spent wisely and that everyone is taken care of.