UNIT 1- HOME ECONOMICS

Lesson 1: Home Management

1. What is home management?

Home management is the process of effectively running a household such us taking care of
children ,providing meals, making sure the house is clean and bills are paid and otherwise attending to
the needs of the house.

2. What are the two classifications of family resources?

There are two classifications of family resources.The first one is,human resources .These are general
characteristics possessed by a person. Abilities, skills, talents, attitudes, health, and energy are
considered human resources.The second one is,nonhuman resources these refer to things, objects, or
possessions which are used in our day-to-day living and also to satisfy our needs and wants. Nonhuman
resources include time, goods, equipment, and community facilities.

3. What are the principles in home management? Explain each.

1. Planning- involves the formulation or the setting of the goals based on the resources, values, and
needs of the family and the procedure to be followed to achieve them. It is identifying the priorities and
focusing on the resources effectively and anticipating future situation. How you want to do something
becomes a crucial questions and how best to achieve it is another. It is said that “those who fail to plan,
plan to fail.”

2. Organizing- refers to tasking family members in the execution of duties and responsibilities. It would
also mean that work is divide among those who are involved in the activity. Good scheduling and finding
ways on how resources can be utilized effectively would be very helpful. This principle will answer the
questions: What is to be done? Who will do it? When is it to be done?

3. Staffing-is the process of choosing the right people for the right activities. It means that the work
assigned to each individual or family member should fit the age, capability and skills for the job.

4. Leading or Directing- is the heart of the home manager’s role. This involves working with and through
others. A home manager must motivate and influence the family members to cooperate for the
realization of family goals.

5. Controlling-is reviewing and assessing all the activities performed to make sure that they are in
conformity with the family goals. This means that performance must be accurate, realistic, coordinated,
flexible and accepted by each family members.

Enrichment Activities
1. Is home management confined only to female family members? Explain clearly.

Home management is not only confined to female family members because male family members also
have the responsibilities.Because not all female family members are meant to be in their role and also
for the male.Like nowadays they are many men who have taken the role of women. There are men who
can do an amazing job like what women can do. I believe that each member of the family have a
different responsibilities in managing their home. Men and women should assist and contribute to each
other.

2. What are the skills and special talents of the members of your family? Are these considered
resources? How can they be utilized so that they can contribute to a satisfying home and family life?

Father - good at farming

Mother - good at house keeping

Me & siblings - good at teaching niece/nephew doing their homework

Yes,it is considered resources because it can help to support our daily needs.We can have our own
supply of rice and no need to buy on store because we can have it on my father's farm. Through the
ability of my mother on doing household chores,we have some money to support on our studies and on
daily expenses.

Lesson 2: Money Management (The Nature of Income and Expenses)

1. Differentiate income from expenses.

The difference between income and expenses is income is the money your business takes in and
expenses are what it spends money on.Income may also be in the form of bonuses, commissions, or
honoraria given by an employer to employees.Expenses could be in fixed and flexible such as school
fees,transport,clothing,recreation and emergencies.

2. What are the two types of expenses? Give examples of each.

The two types of expenses are fixed and flexible expenses. Fixed expenses those that come regularly
within a period of time in more or less consistent amounts. Examples are school fees, rent, payment for
utilities such as electricity and water, food marketing, and transport.While flexible expenses it is
expenses that are unexpected or come at irregular intervals. Examples of flexible expenses are clothing,
recreation and entertainment, contributions, medical and dental care, and other kinds of emergencies.

3. What are the different principles to be followed in preparing a budget? Explain each principle.

1. Know your income.

Before spending your money,you must know how much money you have.

2. List your expenses.

You must take notes on what you are buying or where you are spending your money.

3. Set priorities.

Buy only needed things or important things at home.Set aside the least important.

4. Keep records of expenditures.

Don't lose the receipt of the things you buy or where you spent your money.

5. Make provisions for some savings.

Don't spend all your income,left some for savings.

4. Discuss the conditions affecting the family budget.

1. Size of the family. More money would be spent for food, shelter, and clothing if there are

ten members of the family than if there were only three. When more money is spent for
these three items, there will be less amount of money left for education, savings,

recreation and health.

2. Amount of money to spend. If the amount of money is limited, the more it is important to

get the most out of it. The bigger the income, the greater the percentage for savings,

luxuries and comforts in life. The smaller the income, the larger is the percentage for

goods and other necessities.

3. Age of family members

4. The health of the family members

5. Ideas and interests of the family and the activities members enjoy

6. Spending habits of friends and neighbors

7. Family life cycle.

Enrichment Activities

Interview your parents regarding your family’s source of income and the expenses that the family incurs
monthly. Make a written report about this.
Family Source of Income

Mother's work payment- 4,000/ month

Foods - 1,000

Daily expenses - 1,400

Food supply for pigs - 1,600

Lesson 3: Family Budget

1. What are the conditions or factors that affect the family budget? Explain each component.
1. Size of the family. More money would be spent for food, shelter, and clothing if there are

ten members of the family than if there were only three. When more money is spent for

these three items, there will be less amount of money left for education, savings,

recreation and health.

2. Amount of money to spend. If the amount of money is limited, the more it is important to

get the most out of it. The bigger the income, the greater the percentage for savings,

luxuries and comforts in life. The smaller the income, the larger is the percentage for

goods and other necessities.

3. Age of family members

4. The health of the family members

5. Ideas and interests of the family and the activities members enjoy

6. Spending habits of friends and neighbors

7. Family life cycle.

2. Differentiate essential needs and demands.

Needs refers to necessities that are basic and those which the family cannot do without. These are given
priority in budgeting. Expenses for the family needs should not be ignored since the health and welfare
of the family are at stake.Demands include those which the family or its individual members wish to
have or possess.

3. How do savings and investments benefit the family?

Savings and investments are important.It can benefits the family because they help families attain their
future goals.They provide financial protection in case of emergencies. Insurance are another kind of
savings which provide financial protection against different types of unexpected emergencies such as
death, fire, illness, and many other calamities.

Enrichment Activity

Complete the budget specifications.

Mrs. Gomez works as sales representative in a private firm. He is married and has four children. He
receives a monthly salary of P17, 995.50. How much money would he allot for the different household
expenses if he has to follow the following percentages?

a. Food------------------------------------------30% = 5,398.5

b. Shelter----------------------------------------20% = 3,599

c. Clothing--------------------------------------15% = 2,699.25

d. Savings---------------------------------------10% = 1,799.5

e. Health-----------------------------------------7.5% = 1,349.625

f. Recreation------------------------------------2.5% = 449.875

g. Operational expenses-----------------------15% = 2,699.25