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The income profile helps in examining the income of the family throughout the year. The income profiles are shown in graphs.
(a)The regular income from wages or salary which is constant throughout the year. Such income is perfectly predictable and this kind of income is simplest to plan and control.
(b)This profile is an increase in income at one point and carried out the rest of the year. Next year, unless another increase is forthcoming the streams would return to the first profile.
Similarly a cut in salary would be represented by a drop in the profile line. This would require adjustments in the expenditure plans. The flow of income would still remain predictable; hence the planning and controlling would be simple.
(c) These figures represent the wages or salary cut for part of the year. It may be only once or more during the year. Such irregularity of income may present serious problem of management. If the wages/salary is very high during employment period may help the family to plan and control the expenditures.
(d)This profile presents the income of the professional men or business men who are not an salary or set wages. When the family has an income thatflows in this manner, a definite amount can be declared for family use and the fluctuating income over the said amount may be put into investments. Her minimum monthly earning can be relatively predictable.
(e)Here there are two major peaks and they may be either more or less further. This represents the income of farming families, when the sale of the farm produce is done. There is a baseline income shown throughout the year which includes the money value of the real income obtained and used by the family.
(f) This profile shows the probable income pattern of groups like artists, writers, inventors, Promoters etc. Who may have one or a few sales in a year. There is only one point of productivity when large sum enough for the whole year is received and used through out the year.
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