Professional Documents
Culture Documents
Budgeting
Budgeting
Family Income
and Budgeting
Learning to manage the income is one of the important roles we must all
learn in life.
The proper management of the home is all about how family members
utilize their material and non-material resources.
While developing each one’s interest and making use of their capabilities.
Using family resources wisely and prudently will help attain goals for a
better home life. But how is it done? How cam every member of the family
contribute to the effort? How can every member of the family contribute to
the effort? What roles do the younger members of the family play in home
management?
The Home serves as the workshop where useful skills are honed. Positive
attitudes and values are developed, and good habits are formed. Young
children must star learning how they can help to the older members of the
family by being given simple tasks. It is how one begins to learn the
importance of taking responsibility, and how one’s actions affect the other
people.
Budgeting is a guide on how to allocate ones income and resources so that
these needs are met. A specifict portion of the family income is set aside
for basic necessites while another portion is set aside to finance special
needs. Extra income is set aside as savings or to buy the things we want
as a reward for the hardwork. These can be a toy, a watch, or a new
phone. Certain categories may be increased or decreased in a location
depending on the urgent needs of the family.
Basic and Social Needs
Our needs and wants motivate us to work hard. They encourage and
inspire us to get involved in productive endeavors that will help provide
not just for the basic and social needs of the family, but also to have extra
money to indulge in things we enjoy.
Furniture
Appliances
Budgeting
There are many ways by which a family can effectively budget
their resources. It is important to set the family goals and
priorities and budget available resources based on these. For
example, if education is a priority, a bigger chunk of the budget
should be allocated to this however, it is important to revisit goals
and priorities every soften, as these change over time.
Represented by group 3 ;
Elyana star F. arriola
Hannah nicole gregorio
Mayven michio F. cruz
Louie manuel
Edmon d. atuli