Prepares Feasible and Practical Budget

GOOD
MORNING!
Chapter 1- Family Resource
Management
Lesson 1: Identifying Family Resources

* Classification of Family Resources
* Use of Resources to Achieve Goals
*Sources of Family Income
1.Money earned from
working as
employees.
____ ____ L ____ ____ ____

2. Money earned from
selling insurance,
appliances,
educational plans and
Life plans
C __ __ __ __ __ __ __ __ __
3. Money given as
addition to regular
income as a
recognition,
a reward or incentive.
__ __ __ __ s
4. Money granted by
the government or
private companies
upon one’s retirement
from service
__ __ __ s __ __ __
5. Money earned
from operating a
business.
__ R __ __ __ __
5. Dividends from
shares of stocks and
bond that add
income for the
family.
I __ __ __ __ __ __ __ __ T
Sources of Family Income
1.Salaries/Wages
2.Pension
3.Commission
4.Profit from business
5.Bonus
6.Lease of Property
7.Royalty and copyright
Making a budget
of your family’s
income
Chapter 1- Family Resource
Management
Lesson 1: Identifying Family Resources

* Classification of Family Resources
*Use of Resources to Achieve Goals
*Sources of Family Income
Lesson 2: Allocating Family Income and Budget
* Components of a Family Budget
* Efficient Management of Family Resources
* Preparing the Family Budget
LESSON 2
Prepares Feasible
and Practical
Budget
LESSON 2
Principles_of_Budgeting_and_its_Importance_-(T.L.E_Module)_Home_Economics(360p).mp4
BUDGET
•List of items of
expences that
one plans to
spend in a given
time with a given
income.
BUDGET
•It is not only a
plan for
spending, it is
also a plan for
saving.
COMPONENTS OF
A FAMILY
BUDGET
*1. FOOD
*The biggest share in the
allocation of the family
income.
*2. CLOTHING
*Item that you do not
need to buy
everyday.
*3. SHELTER
*Some families allocate
payment for rent or
apartment. Some are on the
process of owning the
house.
*4. EDUCATION
*It include expenses for
children’s allowances,
tuition, uniforms, books,
and other school supplies.
5.UTILITIES
This is paid on a monthly

basis. It includes electricity,
water, and other bills.
6. HOUSEHOLD
OPERATIONS
*It is used when your parent or
helper go to the market or grocery
to buy supplies and food.
*Also used as payment for home
repairs and improvement.
7. MEDICAL AND
DENTAL CARE
*Expenses for medical and
dental appointment and
medicines.
*Includes vaccinations of
the baby.
8. REST AND RECREATION
*Refers to the activities that

provide relaxation and
entertainment.
9. SAVINGS
*A separate amount of
money that is set aside for
emergency.
10. SOCIAL AND MORAL
OBLIGATIONS
*Allocating budget for the
family who attend personal
events like birthdays,
weddings and etc.
PREPARING
THE FAMILY
BUDGET
Things to remember:
1. Know the actual
family income.
2. Know the needs and
wants of the family.
NEEDS - things that help
us survive.
WANTS -things that make
our life comfortable and
enjoyable.
3. Determined the fixed
and flexible expenses.
FIXED – expenses that are paid
regularly on a more or less the
same amount.
FLEXIBLE– expenses that come
irregularly or paid in varying
amount.
4. One family’s budget is
different from another
family’s budget.
• Size of the family
• Income of the family
• Location of residence
5.Family should
live within the
budget.
Budget Component Allocation (%) Amount
Food
Shelter
Education
Household Operation
Medical and Dental
Utilities
Clothing
Recreation
Savings
Total 100%
FAMILY INCOME 20,000.00
Component
FOOD 25% ___________
Food 25%
Shelter 8%
Education 15%
Household Operation 12%
Medical and Dental 8%
Utilities 15%
Clothing 8%
Recreation 5%
Savings 4%
Total 100%
ACTIVITY
Divide the class into six

groups. Let them
prepare a
budget and present it to
the class.
Situation:
Fathers -with fixed income
Mother- plain house wife
With 2 kids studying in a public
school (age 8 and 6)
FAMILY INCOME 1: For
Group 1 and 2
Monthly income of the Family

Php 25,000.00
Group 3 and 4

Php 15,000.00
Group 5 and 6

Php 10,000.00
Food
Shelter
Education
Household Operation
Medical and Dental
Utilities
Clothing
Recreation
Savings
Total 100%
Is budgeting
important?
Why?
At your young age, do you
think this topic is
necessarily be included in
the competencies that you
have to learned?
What values is being
instill in the lesson ?
EVALUATION
Making a family budget is highly
dependent on how much the family
income is. Below is a sample family
situation. Compute the monthly
allocated budget of the Cruz Family.
Write your answers in a coupon bond.
EVALUATION
Situation:
Monthly income of the Father Php 30,000.00
Mother is a plain housewife
Daughter is in third year college
The family is renting an apartment
ASSIGNMENT
Seek the help of your parents in
making the monthly budget for the
family. Show your own family budget
depending on your family’s income.
Indicate your budget components, its
percent allocation and the amount per
item.

Prepares Feasible and Practical Budget

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What are the different sources of family income mentioned?

What are the components of a family budget?

GOOD

Lesson 1: Identifying Family Resources

L

Lesson 1: Identifying Family Resources

This is paid on a monthly

*Refers to the activities that

Medical and Dental

Household Operation 12%

Medical and Dental 8%

Divide the class into six

Monthly income of the Family

Monthly income of the Family

Monthly income of the Family

Medical and Dental

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