TECHNOLOGY AND LIVELIHOOD

EDUCATION 6
Home Economics

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Factors Affecting
Family Budget
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Why budgeting is
important?
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 Have you tried eating pizza? How
many slices are there? Is it equally
slice?

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 Just like budgeting it should be
equally distributed but there is a
factors to be considered.

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 Group Activity
●List down all the thinds you need to
be considered in budgeting family
income.

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Factors Affecting
Family Budget
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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,
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2. Size and Composition of the family – the
more the family members are there, the
bigger the amount the income is spent on
food, schooling, clothing and for their
basic needs.

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3. Values of the Family – Different families
and different individuals have different
values so they have different priorities on
what to spend their money for.

This is where you section ends. Duplicate this set of slides as many times you need to go over all your sections. 10
4. Needs and Wants of the Family – needs
are materials which the family members
need to survive on a day-to-day basis.

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Basic Needs Considered Wants
Needs
Materials that the
family members
Food Water desire to have.
Education
Shelther They can postpone if
Transportation the budget is not
Clothing Light enough but can be
purchased if the
budget allows it,
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Steps in Making Budget

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1. Know your income or
allowances for a definite
period of time
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2. Make a list of
expenses.
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3. Determine the
amout to be spent on
fixed and flexible
expenses. 16
4. Add the expenses
for these two
categories.
5. Check on the figures to
find out you are spending the
right amount where you need
to.
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Interview your parents
and ask how they are
going to budget their
family income.
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