Why does the family budget reflect the socio-economic status of the family?

A family’s budget is a reflection of its level and quality of life, socio-economic status, business activity and education of its family members. The family’s budget is made up of its income and expenses, therefore, the more income the family has, the more family consumption can afford. The family’s budget forms expenses not only for vital expenses, but also for secondary expenses. One of the indicators of the social status of a family is the consumer basket, the higher the family income, the more expenses the consumer basket requires. Summing up, we can say that the larger the family budget, the higher the socio-economic status of this family.

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