MANAGING FAMILY RESOURCES

Family Resources – are the family possesses and makes use of in order to achieve family goals.

Types of Family Resources:

1. Human Resources – family members and what each one possesses.

a. Ability and skills – both native and acquired. Example: good in math, baking or drawing.
b. Attitudes – includes ideas and opinions and feelings. Example: having positive ideas and
hardworking.
c. Knowledge – includes facts and information. Example knowledge in baking or
understand instructions.
d. Energy – capacity to do work. Example: having good health to do their assigned work
effectively.

2. Nonhuman or Material Resources – things or elements available to the family or everyone.

a. Time – a short or long periods. It is usually measured in terms of clock time.

b. Money – purchasing power to acquire needed goods and services. The peso is the
Philippine currency used as an exchange medium for goods and services.
c. Goods and Property – durable, nonperishable, and perishable. Example: appliances,
vehicle and equipment owned and used by the family.
d. Environmental Resources – include rain, sunlight, air, and soil help man provide for his
basic needs such as food, shelter and clothing.

Family Values and Goals – the values that family consider important is comfort, health, education,
and efficiency. These values serve as motivation to achieve their goals.

Goals:

1. Short-term goals – can be attained for a short period of time like buying things.
2. Long-term goals – can be attained in long periods of time like building house, buying a car or
finish education until college.

Family Needs and Wants

Needs – are basic and essential to living like food, clothing, and shelter. Man as a member of society
has expanded hir/her needs to what he/she calls social needs. These are relate to others, be accepted,
belong to a social group like family, school group, church group and community group.

Wants – desired of individual would like to possess that give him/her enjoyment and satisfaction.
Example: Buying new clothes gadgets and branded pair of shoes.

Tips in Managing Resources Effectively

1. Use energy and time properly.

2. Know how to budget money to make spending worthwhile.
3. Know how to use, clean, and take cate of appliances, tools, and furniture to keep them
functioning well.
4. Adopt a cheerful and positive attitude toward the work to make easy interesting and
enjoyable.
5. Assigned responsibilities that can make one use his/her talents and skills in doing family
chores.
6. Make good use of community facilities such as parks, roads, hospitals, schools churches and
libraries to meet some of the family’s needs and wants.
MANAGING THE FAMILY INCOME

Family Income – combined money earned by the father and mother and other working members of
the family.

Sources of Family Income

1. Salaries/Wages – money earned from working as employees.

2. Commission – money earned from selling real estate, insurance, appliances educational plans,
life plans and the like.
3. Bonus – money given as an addition to a regular income.
4. Fees from services – money earned from services rendered.
5. Pension – money granted by the government or private companies upon retirement from
service.
6. Profit – money earned from operating a business.

Budget – a list of items of expenditures that one plans to spend in a given time with a given income or
amount.

Importance of a Budget:

1. Balance your income and expenditure.

2. It gives a feeling of comfort and satisfaction knowing your income is enough for the expenses
of the family.
3. Enables the family to list down its needs and wants and prioritize the needs.
4. It gives a family full and better life because needs are satisfied before wants.
5. It is a constant reminder that you are in control of family finances.

Types of Spending:

1. Spending for comfortable living.

2. Spending for major purchases.
3. Spending for savings.
4. Splurge spending – spending for fun and satisfaction.

Components of Family Budget:

1. Food – approximately 50% to 60% of the budget.

2. Shelter and other related needs – like rentals and bills.
3. Education - tuition fee and school supplies.
4. Health Needs – periodical check-up, hospitalization and medicine.
5. Clothing
6. Transportation
7. Social and recreational needs
8. Contingency Fund – small amount set aside for emergency.

Factors Affecting Family Budget:

1. Amount of Income
2. Size and composition of the family.
3. Values of the family.
4. Needs and Wants of the family.

Steps in making a budget:

 1. Know your income or allowances for definite period of time.
2. Make a list of Expenses.
a. Fixed – regular for the daily expenses of the family.
b. Flexible – may increased or decreased. Example: clothing, gifts, recreation.
c. Occasional
3. Determine the amount to be spent.
4. Add the expenses for these two categories.
5. Check the figures to check if the spending is right.
6. Total the expenses with your income to check if there is need to adjust.

Impulse Buying – spending that is not included in the budget.

Methods of Handling the Budget:

1. Have separate envelopes for your intended expenses.

2. Keep a list of what to buy before shopping.
3. Bring the required amount of money to spend. You can bring extra money about 10% to 20%
of the total amount to purchase.
4. Stick to your list when buying.
5. Buy your needs first.
6. Remind children that no budget allotted for expenses not in the list.

MANAGING TIME AND ENRGY

Time – is a nonhuman resource which refers to a period. It is seconds, minutes, hours. Days, month
and year.

Energy – human resource which referees to the capacity to do work.

Benefits of Time and Energy Management:

1. Spend less time on things you want to do and more time on things you have to do.
2. Sense of fulfillment when the day is done.
3. Reduce the daily stress and frustration.
4. Become good model to others.
5. Enjoy a balanced and better life for you and the family.

Managing your time and Energy:

1. Planning
2. Organizing
3. Controlling
4. Evaluating

Preparing Time and Activity Plan for the Family

To maximize the use of time and energy prepare a schedule of activities or a time and activity
plan.

Example:
Controlling Your Schedule - after preparing the schedule, the mother should see to it that the schedule
is followed as planned.

Evaluating Your Schedule – to check if the plan is successful, it must be examined if the work is done.

SEWING HOUSEHOLD LINENS

Importance of Sewing as a Skill:

 1. It can be a form of hobby or recreation.
2. It encourages creativity.
3. It can start home business.
4. If used as home business can expand to a livelihood and give job to the community.

Benefits Derived from Sewing as a Skill

1. It is easy to find job.

2. It opens many job opportunities here and abroad.
3. Can provide employment to others.
4. The community will benefit from taxes from the business and employment.

Preparing Your Sewing Tools

1. Sewing
a. Hand Needles
b. Sewing Machine Needles
c. Needle Threader
d. Threads

2. Holding
a. Pins
b. Thimble
c. Pincushion
d. Emery bag

3. Cutting
a. Pinking Shears
b. Fabric Shears
c. Sewing Shears

4. Measuring
a. Tape Measure
b. Ruler
c. Gauge
d. French Curve

5. Marking
a. Tracing Wheel
b. Tracing Paper
c. Tailor’s Chalk

6. Pressing
a. Pressing Equipment
b. Flat Iron
c. Ironing Board
d. Press Cloths
e. Bowl and Sponge

Preparing Sewing Machine

1. Setting the needle properly.

2. Winding the thread on the bobbin.
3. Threading the bobbin’s case
4. Threading the upper part of the machine
 5. Taking up the lower thread
6. Regulating the length of the stitch.

Setting the Needle Properly

1. Raise the thread, take up the highest point.

2. Loosen the needle clamp screw.
3. Insert the needle upward into the needle clamp.
4. Tighten the needle clamp screw.

Parts of the Sewing Machine: