Name of ALS Learner: _________________________________ Date: __________________________

Week 1 - Learning Strand: IV – Life and Career Skills Topic: Resources Management

Learning Competency: Satisfy human needs (balancing wants and desires and available resources) while living within one’s
means. (LS4LC-SC-PSF-AE/JHS-2)

Family Resources Management

 Resources can be defined as anything we use to achieve what we want (our goals). In other words, they are the
materials and human attributes which satisfy our wants.
 
 The concept of management involves planned use of resources directed towards the achievement of desired ends. This
involves the weighing of values and the making of series of decisions.

1. Human Resources: These are the capacities and characteristics of an individual. These can be used only by the person who
possesses them. They have the high potential to achieve what we want, and many a times may not be cultivated or made
available. Most of the time, families underestimate these re-sources and are unaware of them.
i. Knowledge: It is important to be aware of things to be able to achieve what we want. If we want to buy a T.V. we
need to know what features to look for, brands available. This will help in buying a better-quality product.

ii. Time: It is constant for everyone, 24 hours a day. The way a person man-ages and uses her time is her personal
choice. A student may finish all the work before going to play; another may waste his time watching television or talking
on the cell phone.

iii. Energy: This is both mental and physical power of a person. To achieve goals, one needs to plan, organize, and
finally implement the plans. This would require both mental and physical energy.

iv. Abilities and skill: These are inherited and acquired. These may include skills like cooking, decorating, gardening.
Each individual has particular abilities with which he/ she can achieve his/her goals. These skills can also be developed
by systematic learning and practice.

v. Attitude: These are opinions or feelings a person has towards a thing which may hinder or help in achieving his
goals. A positive attitude may help a person achieve what he wants whereas a negative attitude may hinder her in
achieving what she wants.

2. Non-human Resources: These are tools and assets that families have at their disposal to achieve what they want. These are
available for everyone to use. A per-son works hard and earns money to be used by him and his family. He/she may buy material
goods or land from this money and may build a house on this land. Community facilities like banks, post offices, parks, and
library. These are tangible and are more identifiable.
a. Money: It is the pivotal resource which can be exchanged to buy material things, commodities and services. It can
also be used for future use and thus gives a sense of security to the family.
  b. Material goods: These include durable goods or perishable goods used and owned by a family in their everyday use.
Land, house, furniture and vehicle are examples. These help to make life easier and more comfortable for all family members.
Durable goods like land can also help families to earn or save money. If vegetables are grown on land, the family can save money
on buying vegetables or sell these vegetables to earn money.
  c. Community facilities: These are those facilities which are common for all members of a community. Parks, libraries,
post office, police and fire protection, banks, hospitals, transport facilities, roads, rail-ways, electricity, water supply, markets,

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community centres and ration shops are examples of community facilities. All families can avail these facilities without directly
paying for them but indirectly paying for them through taxes.

Now that we know this, let us further discuss the importance of resource management in the context of a family.

 Time is gold. It is a God-given gift that must be valued and used wisely. Time is short and once lost, cannot be
regained. Proper time management can bring good results. Spending time together as a family creates a sense of
belonging. Children are less likely to go look for that feeling somewhere else if they can find it at home. We should
make an effort in finding ways to spend time together as a family and create fun memories. Turning of cell phones,
TV, computers and other distractions and instead share ideas and values and learn about what is happening in each
other lives. Play card games, do sports, or go on holidays together. If we manage to spend time together as a family,
we will make it easier for our children to share their thoughts and worries when going through tougher times. 
o Family time creates loyalty to each other and a feeling of support. Our children grow up fast so we should
make sure we use the time we have. 
o Read our ideas about activities you can do together as a family!
o Families have different forms and composition. Family is most importantly a feeling of belonging to someone
and loving without conditions. The family we belong to, has a big influence on how our children deal with
relationships, cope with different situations, and learn about living life.

 Money is very important. It is a part of life. Money can help sustain the family needs as well as their wants. Good
money management is about meeting your family’s everyday expenses, handling unexpected bills and saving for the
future. It can put you in control of your money, which helps you avoid stress and feel more secure.
o Money is a current medium of exchange in the form of coins and banknotes.
o Income is money received, especially on a regular basis, for work or through investments.
The money being used by the family comes from the salary or other forms of income of family members. It can also
come from bonuses, commissions or honorarium received by an employee belonging to the family. Other source of
family income will be profits from business from those who are self-employed.

Money management: why it’s important

Basic money management is about meeting your family’s everyday expenses, handling unexpected bills and saving for the
future. It can put you in control of your money, which helps you avoid stress and feel more secure. Communication in your
family plays an important role in managing money well. Honest conversations with your partner, if you have one, can help to
avoid conflict about money. And involving children in planning and budgeting can make it easier to achieve savings goals
together. Budgeting can help you and your family take the first step towards control of your money. It can also help you  avoid
debt. And it lets you get on with enjoying family life, rather than spending too much time worrying about your finances.

A family budget: why it’s a good idea

A family budget is essential to managing your money.

That’s because a family budget helps you:

 spend your money wisely on the things you must have – these are your needs

 save money for the things you like but can live without – these are your wants

 set aside money for unforeseen expenses – for example, if your car breaks down and needs repairs

 stop accidental overspending.

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Name of ALS Learner: _________________________________ Date: __________________________
#1 - Learning Strand: IV – Life and Career Skills Topic: Resources Management

Learning Competency: Satisfy human needs (balancing wants and desires and available resources) while living within
one’s means. (LS4LC-SC-PSF-AE/JHS-2)

Pre-Activity:

Define the following terms based on your own understanding.

 What does resources mean?
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 How about management?
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______________________________________________________________________________________
Let’s answer:

o Why do you think time is important for a family?

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o Why is managing your family’s finances important?
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_________________________________________________________________________________________
_________________________________________________________________________________________
_____________________________________________________________________________________

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Family Time!

Plan a family time for the entire week. List down the activities/tasks that you and your family can do together

Monday Tuesday Wednesday Thursday Friday Saturday Sunday

Your Family Budget Plan

Show your family’s budget plan for the entire month and identify whether these are needs or wants.

Family Monthly income: _____________________________

Expenses Cost Needs/ Wants

Total:

Family Monthly income: _________________ - (minus/less)

Family Monthly Expenses: _________________
= Money left _________________

o Do you spent more than what you earned? Why or why not?

________________________________________________________________________________________
_________________________________________________________________________________________
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