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Summary IEB Grade 10-12 Consumer Studies Notes! ENTIRE SYLLABUS!! CA$15.96   Add to cart
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Summary IEB Grade 10-12 Consumer Studies Notes! ENTIRE SYLLABUS!!

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  • Course
  • Consumers Studies
  • Institution
  • 12th Grade

IEB Consumers Notes ENTIRE SYLLABUS! GRADE 10-12 Boost your Consumer Studies marks with these top-notch IEB notes! Covering everything from Housing, Nutrition, Clothing, Design Elements and Principles and Finance. These notes helped me score 85% in Grade 11. They're clear, filled with helpful d...

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  • November 9, 2023
  • 52
  • 2023/2024
  • Summary

Subjects

  • grade 10 12 consumer studies

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  • 12th Grade
  • Consumers Studies
  • 200
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Consumer Studies
Notes
Grade 10-12




INDEX



1

,Finance…………………………………………………..pg 2-16


Nutrition……………………………………………….pg 17-38


Housing…………………………………………………pg 39-43


Clothing…………………………………………………….pg 43-44


Design elements and principles……………………..pg 45-49




2

, INCOME AND EXPENDITURE




HOUSEHOLD INCOME

DATA
Collection of raw information

Statistics
Interpreting data

Financial Income
Money earned over time

Non-Financial income
Products and services that someone receives without using money- bartering

Stats SA draw comparison between the income and expenditure of different races, ages,
income, groups, sexes and different provinces.

• Allows us to compare how different people spend their money and on what.

SOURCES OF INCOME

Non-financial income
• Doing own housework
• Cooking
• Public services
• Buying habits-sale




3

,Financial income


Income from labour Wages, salary, commission, bonus


Income from produce Farming


Income from investments Interest, dividends, rentals


Retirement income pension



Social security grants Foster child, covid, government pension


Fringe benefits Extra income from employer


Casual income Gifts, inheritance




4

, Expenditure patterns


WHAT INFLUENCES IT?

1) Socio-Economic Position
How much we earn.
• Low socio economic- essential items
• Middle- Education
• High- designer clothes, holidays, education

2) Type of household and family life cycle
Influences how much we spend due to household conditions
• Eg. Family with 2 kids over family with 4 kids (2x more expensive)

3) Age
Changes in buying habits and what you buy as you get older

4) Other factors
• culture and religion
• Inflation
• Cost of living
• interest rate
• residential area




5

, HOUSEHOLD BUDGET


• A budget is a detailed breakdown of all your income and planned expenses for a
specific period of time. This must include savings for that period of time.
• This helps you to meet your financial goals and allow you to plan ahead.

What to budget:
• See exactly how much money we have available
• Stay in control of our money
• Decide how much money there is to spend and prevent impulse spending
• create a savings plan
• Reach financial goals
• pay off your debt and live within you means

PRINCIPLES OF BUDGETING

1) Assess your needs
• needs versus wants

2) Set realistic goals
• Long term
• Short term

3) Control and record spending
• Record what you are spending your money on

4) Spend less than you earn
• Cut down
5) Prepare for the unexpected
• Covid
6) Make your money work
• Look how it can benefit you
• Interest rates and investment




6

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