6

TECHNOLOGY & LIVELIHOOD

EDUCATON (TLE)
QUARTER 2 – MODULE 1

“RESOURCES AVAILABLE IN THE FAMILY AND

HOW TO PROPERLY MANAGE THESE
RESOURCES”
 Republic of the Philippines
DEPARTMENT OF EDUCATION
Region I
Division of Pangasinan II
Binalonan, Pangasinan

TLE- HOME ECONOMICS 6

QUARTER 2- WEEK 1 (MODULE 1)
Objectives:
a. Identifies family resources and needs (human, material, and non-material) lists of
family resources
b. Enumerates sources of family income
c. Allocates budget for basic and social need such as:

I. INTRODUCTION
This lesson will help you learn to identify the resources available in the family and how
to properly manage these resources to provide sufficiently for the family’s different
needs.
Apart from money, family resources also include things non-working members of the
family may possess. These are energy, time, and skills. Like money, these resources are
finite. This should be instilled in the minds of the members of the family.

II. READINGS/LECTURES
Types of family resources
 Human Resources
Every able-bodied member of the family is considered an important human resource.
People who can contribute their time, effort, skills, strength, and expertise is considered
part of the family’s human resource.

Capabilities, Intelligence, and Skills

Every person has his or her unique ability and intelligence in a way that improves not
only himself or herself but also others. It is important to identify the talents and skills
that each person has and utilize them for the common good.

Strength/Energy
The strength of a person does not only mean having good health and strong body. It
also means having emotional stability, mental alertness, and having reasonable
commitment and positive outlook in life, especially in work that improves self and
society. Strength is also needed to accomplish tasks on time in order to play, entertain,
and relax with the family afterwards.

 Material Resources
Tangible assets such as house and lot, furniture and appliances, jewelry,
automobiles, and cash are referred to as the family’s material resources.
Every family must invest wisely in material resources, making sure that they consider
quality, durability, and appreciation value when choosing what to purchase.
Real properties and jewelry increase in value over time while the value of furniture,
appliances, and automobiles depreciate or go down as they get old and worn out.
 Non – monetary material resources are valuable too because they can be sold for a
certain amount of cash.

 Non-material Resources

Time, health, and experience are intangible resources but are also important. Without
non-material resources, family members will be unable to perform their duties and
responsibilities at home, in school, and at work.

Time
Time is very important. This is the resource that cultivates cooperation, fulfilment of
the prescribed duties, and smart maintenance of homes.
This is used to start and finish the work without giving burden to the body or
resentment to the person.

Health
The health of family members is important. When family members are in good health,
they can do their duties without delay.

Experience
The more experience a family member has, the more likely he or she will get hired and
be paid a good amount for his or her services. So, job or work experience is an
important non-material resource to have.

Time /Energy management

There are some tasks that require only little time and energy to accomplish. Take these
things into consideration when scheduling activities.
Household activities should be managed properly to lessen unnecessary labor and help
speed up work and reduce stress.

Basic needs – are requirements for sustaining life and promoting physical and mental
growth for the children within the family.

1. Food, water, shelter, and clothing. These needs are provided by parents to their
children
since birth, to keep them alive.
2. Security and safety needs. The parents provide security and the safety needs of
their children to make them comfortable and to keep them free from fear. This
includes healthcare and education.

Food – fuels the human body. Without it, the body cannot grow or perform at its
best, the organs will stop working properly, and the body eventually dies. Food
supplies nutrients, which are used by every cell in the body as building materials and
fuel.

Water –is vital to life, humans, plants and animals are made up of mostly water. All
living things would die if it weren’t for water. We use water for drinking, washing,
cleaning, cooking, and watering plants.
Shelter -Human beings need shelter for protection against natural threats, such as
extreme weather and dangerous creatures, and even as security against other human
beings.

Clothing – is a fiber and textile material worn on the body to enhance personal
appearance and protect it from extreme temperatures and elements of various climate.

Education – boosts self-esteem, gives the confidence to pursue dreams and alleviates
poverty.

Social needs - are things such as acceptance, appreciation, belonging and

companionship. Essentially, social needs are met by forging relationships with other
people. Social needs are also considered to be deficiency needs or something that is
essential for growth and development. According to Maslow's theory, social needs are
important because forging emotional relationships is essential for preventing anxiety,
depression and loneliness. Social needs are met in a variety of ways. Families meet the
social needs of children, but later in life, romantic partners, friends and co-workers
further meet social needs. Joining groups, such as a church or athletic team, also meets
social needs.

Income - is money that an individual or business receives in exchange for providing

goods or services.
Family income – is the total income earned by all the members of the household.

Sources of family income

 Salary earned for services rendered
 Bonuses, commissions, or honoraria given by an employer to employees
 Profits earned from business
 Rentals from owned properties
 Dividends from stock holdings

Types of family income

1. Money Income
2. Real Income
3. Psychic Income

Money income maybe in the following forms:

a. Salary
Monthly salary of all the members who are doing government or private services.
b. Wages
Daily, weekly or monthly wages
c. Rent
Rent of the house and real estate
d. Interest
Interest of the capital deposited in banks, post offices or from lending money.
e. Projects
Profits from investment either in business or any other sources.
f. Sick Benefits
Medical Allowances
g.Pensions
Money received by retired persons, old age widow and other pensioners
h. Gift, dividends, securities, royalties etc.

The real income of the family consists of:

a. Inherited landed property, which yields crops for the family.
b. Food furnished by a kitchen garden.
c. Dairy farming and poultry farming.
d. Durable goods and commodities owned by the family.
e. Kneading, embroidery, tailoring, pickling, baking and activities carried out in home.
f. All types of knowledge and services (Household activities) provided by the members
of the family.
g. Community facilities like parks, markets, hospitals, roads, schools, colleges, libraries,
dispensaries, fire and police protection, community entertainments, social centres etc.
Proper utilization of all these can increase the real income of the family.

Psychic Income:
This income is the flow of satisfaction derived by the family from the use of
money income and real income. This income is also called as enjoyment income,
experienced over a given period of time by the proper utilization of money income and
real income. We must maximize psychic income, because our ultimate goal is to derive
maximum satisfaction and peace from life. It is in the form of rewards (as in prestige,
leisure, or pleasant surroundings) not measurable in terms of money or goods but
serving as an incentive to work in certain occupations or situations a creative artist can
reap a psychic income that money cannot match.

Total Income:
Total income consists of money income received over a certain period of time
and the real income received during the same period from other sources without
spending one’s own money income. The family utilizes this total income to obtain
goods and services for the satisfaction of its needs and saves some unused money
income for future use, gifts to other persons or payment of taxes.

Tips in Wise Spending of Your Income

 Make a list of all the things needed at home and their specification.
 Compare the prices of the products to be bought. Avoid buying things with higher
prices than usual.
 Buy in bulk the things that are needed everyday.
 Buy fruits and vegetables in season.
 Know the substitute ingredients for expensive items.
 Be familiar with the stores offering lowest prices.
 Go to a store where you can be assured of good quality and standard price.

Budget- is the amount of money set aside for planned expenses. It is a plan specifying
how much money will be spent or allocated during a particular period.

Budgeting is related to the wise use of family resources. It is based on the system by
which wages or salaries are received and how these are to be spent by itemizing the
needs of the family and how much money is needed to meet such needs.

Components or elements of a family budget

 Food – groceries, raw and cooked food, staples, condiments, and spices
  Shelter – if not renting, includes taxes, repair, and maintenance
 Clothing – uniforms, clothes, and accessories
 Education – tuition fees, books, daily food, transportation allowance of children
 Household operations – things needed in the house, beddings, curtains, furniture,
and other paraphernalia to make members comfortable
 Utilities – electric, water, and telephone bills, gas, salaries of helpers
 Health – medicine, check-up
 Recreation – family outings, outside dining, watching movies.
 Savings – the amount set aside or deposited in the bank

Allocation of Family Budget

A family budget may differ from one family size and composition, family values and
standards of living. Some families may spend more on food, others on clothing and still
others on education.
The values of the family influence its priorities.

Sample of Monthly Budget

Monthly Income: Php 25, 000.00
Family Members: 4

Item % of Budget Allotted Amount

Food 40 10,000.00
Education 16 4,000.00
Shelter 15 3,750.00
Utilities 12 3,000.00
Household Operation 6 1,500.00
Clothing 3 750.00
Recreation 3 750.00
Savings 5 1,250.00
Total 100 25,000.00

How to manage family resources efficiently

 Inform all the members of the family about the budget.
 Make adjustments to your budget as necessary. Keep within the amount allocated for
budget items.
 Choose a simple lifestyle that you can sustain with your earnings.
 Buy only things that are needed.
 Schedule your expenses.
 Follow a shopping and marketing schedule.
 Avoid making unscheduled, unplanned purchases especially at a store you are not
familiar with.
 Teach the children to spend their allowance wisely.
 Conserve energy and other utilities.
 Recycle or reuse materials.
 Repair appliances and furniture as needed.
 Take good care of your belongings.
 Buy products that are of good quality and reasonable price.
  Develop the habit of walking short distances.

Factors affecting the family budget

The following are some factors that can affect a personal or family budget.
1. Amount of Income – the higher the income of the family, the greater the amount that
the family members can spend for their needs and wants. But, the greater the income,
the more savings the family can have for the future. On the other hand, the smaller the
income of a family, the more it needs to spend for what is most important and
immediate needs. Food, shelter, clothing, education, and utilities are some of the
immediate needs of most families today.
2. Size and Composition of the family – the more family members are there, the bigger
amount of income is spent on food, schooling, clothing, and for their other basic needs.
Also, when family members are still young and growing up, the more expenses are
needed for their food, health and medical expenses, clothing and other basic needs.
3. Values of the family – different families and different individuals have different
values so they have different priorities on how to spend their money.
4. Needs and wants of the family – needs are materials which the family members need
to survive on a day to day basis. Food, shelter, and clothing are basic needs. Today,
however, education, transportation, lights, and water are also considered needs. Wants,
on the other hand, are materials that the family members desire to have. They can be
postponed if the budget is not enough but can be purchased if the budget allows it.
Jewelry, new dresses, cell phones and other electronic gadgets, appliances, and cars are
some of the wants most families would like to buy.

Needs and Wants

Our needs and wants motivate us to work hard. They encourage and inspire us to get
involved in productive endeavors that will help our families live better.
It is important for family members to distinguish clearly their needs from their wants.
In family budgeting, we must prioritize our needs and not wants.

III. ACTIVITIES/EXERCISES
A. Directions: Encircle the letter of the correct answer.

1. The wise use of means to accomplish or achieve one’s purpose.

A. Energy B. Resources C. Time D. Management
2. It is in the category of non-material resources. It is short and once lost, cannot be
regained.
A. Energy B. Time C. Work D. Savings

3. Something that a person must have in order to live.

A. Needs B. Wants C. Money D. Foods
4. It is a resource that comes from within the people. It includes skills, knowledge, talents,
etc.
A. Human resources C. Material resources
B. Non-material resources D. Cultural resources
5. A source of supply, support, or aid, especially one that can be readily drawn upon when
needed.
A. Management B. Resources C. Salary D. Money
 6. An example of material resources is…
A. Energy B. Time C. House and Lot D. Talents
7. This are the needs provided by parents to their children since birth, to keep them alive.
A. Food C. shelter and clothing
B. water D. all of the above
8. It refers to those fundamental requirements that serve as the foundation for survival.
A. Basic Needs B. Demands C. Wants D. Market Demand
9. These are the social obligations, needs wherein a person is obligated to have or perform
in order to be part of a group.
A. wants B. needs C. social needs D. budget
10. It is defined as a supply of something that can be used or drawn from.
A. resources B. finances C. budget D. all of the above

IV. SUMMATIVE EVALUATION:

A. Directions: Encircle the letter of the correct answer on your answer sheets.
1. A source of supply, support, or aid, especially one that can be readily drawn upon when
needed.

A. Management B. Resources C. Salary D. Money

2. The wise use of means to accomplish or achieve one’s purpose.

B. Energy B. Resources C. Time D. Management

3. An example of material resources is…
A. Energy B. Time C. House and Lot D. Talents
4. It is in the category of non-material resources. It is short and once lost, cannot be
regained.
A. Energy B. Time C. Work D. Savings
5. It is a resource that comes from within the people. It includes skills, knowledge, talents,
etc.
A. Human resources B. Material resources
C. Non-material resources D. Cultural resources
6. These are the things we do not really need but would like to have.
A. Money B. Wants C. Needs D. Foods
7. These are the factors that need to be considered when budgeting, except for one. What
is it?
A. Size of the family B. Family income
C. Talents and abilities of each member D. Friends

8. These are the social obligations, needs, wherein a person is obligated to have or
perform to be part of a group.

A. wants B. Needs C. Social needs D. Budget

9. Something that a person must have in order to live.
A. Needs B. Wants C. Money D. Foods
10. It is a current medium of exchange in the form of coins and banknotes.
A. Money B. Income C. Salary D. Cheque
B Directions: Make a sample family budget. Use the pattern indicated below
(10 points)
Items of Expenditures Percentage Allotment Equivalent in Peso
A. Food 25%
B. Shelter (house repair and 10%
maintenance)
C. Clothing 8%
D. Education 16%
E. Utilities (water, electricity, 8%
internet)
G. Allowance 12%
H. Transportation 9%
I. Recreation 4%
J. Medicines 8%
TOTAL 100%
Note: Assuming that the family income is only Php 20,000.00

C. Directions: Arrange the jumbles letters to form the correct answer in each item.
IBLETANG 1. An asset capable of being appraised at an actual or approximate value.
YMIFA 2. A group of people who are related to each other.
CESOURRE 3. A supply of something (such as money) that someone has and can use when
it is needed.
INGCLOTH 4.The things that people wear to cover their bodies.
MTIE 5. A particular point at which an event takes place.
Key Answer: (Activities)
A.
1. D 6.C
2. B 7. D
3. A 8. A
4. A 9. C
5. B 10. A

A. REFERENCES
https://hubpages.com/money/The-Importance-of-a-family-budget
https://www.google.com.ph/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-
8#q=types+of+family+income&*
http://www.farnellfamily.com/cfarnell/why/uses.html
https://www.reference.com/world-view/need-shelter
https://www.google.com.ph/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-
8#q=Clothing&*
https://www.google.com.ph/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-
8#q=reason+why+is+education+importance&*
https://www.reference.com/world-view/social-needs-8e3901f003c9203e