Unit III: Money Management and Consumer Education
Family Income: various sources of family income: (i) money income, (ii) real income, direct and indirect; Supplementing family income-need & ways; need and procedure for keeping household accounts.
Savings and Investment: meaning and importance of savings; ways/methods of investment banks, post-office, LIC, Units, PPF, PF; basis for selection of the method of investment risk, security, profit, tax saving.
Consumer Protection and Education: meaning, problems faced by consumer, Consumer Protection Act (1986) and Services; Consumer aids: labels, standardization marks, advertising, guidebooks/ leaflets, Consumer redressal forum.
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