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Syllabus

Managing Family Income — Syllabus

NIOS · Class 10 · Home Science

What Managing Family Income covers in NIOS Class 10 Home Science: 4 topics, for the 2026-27 session. Part of the NIOS Class 10 Home Science syllabus.

81 questions42 flashcards3 formulas & key relations5 concepts

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4 Topics · NIOS Class 10 Home Science · 2026-27

Topics in Managing Family Income

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1. Income, Expenditure, and Savings

  • Family income is the income from all sources like salary of family members, rents, interest received from banks, and savings from using skills of family members.
  • Income can come from salary from a job, part-time classes, rent from a house or shop, interest from bank, sale of shares and other investments, and use of skills.
  • Stitching clothes at home, growing vegetables at home, and knitting sweaters save money and add to family income.
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2. Spending Plan or Budget

  • A spending plan is a planned approach to spend money based on the total income of a family.
  • A spending plan is also called a budget.
  • It is a list of requirements of family members with money allocated for each item.
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3. How to Make a Spending Plan

  • There are five steps to make a spending plan.
  • Step 1: Keep in mind all the income and facilities available for the period.
  • Step 2: List all the requirements needed by the family members.
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4. Saving, Allocation, and Example Family Budget

  • As a guide, it is advisable to save about 10% of the monthly income.
  • In the example expenditure table, food takes 35% of expenditure, housing takes 20%, and saving is allocated 10%.
  • Other example shares are clothing 5%, family recreation 5%, household operations 6%, education 5%, transportation 8%, medical expenses 3%, and furnishing 3%.

Key Concepts

Central concept: Managing Family Income

Family IncomeExpenditureSavingsSpending PlanFactors affecting spending planBalancing the budgetGood budget characteristicsRecord of expenditure

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Frequently Asked Questions

What are the important topics in Managing Family Income for NIOS Class 10 Home Science?
Key topics in Managing Family Income include Income, Expenditure, and Savings, Spending Plan or Budget, How to Make a Spending Plan, Saving, Allocation, and Example Family Budget. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How should I revise Managing Family Income for the NIOS Class 10 board exam?
Learn the core ideas first, then work through the 81 practice questions on Managing Family Income. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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