MANAGING THE FAMILY INCOME AND BUDEGETING

A type of family resources where every able-bodied member of the family is considered an important human resource. People who can contribute their time, effort, skills, strength, and expertise is considered part of the family’s human resource.

• MATERIAL RESOURCE

• NON-MATERIAL RESOURCES

• HUMAN RESOURCES

• ENVIRONMENTAL RESOURCES

A type of family resources where tangible assets such as house and lot, furniture and appliances, jewelry, automobiles, and cash are referred to as the family’s resources.

• MATERIAL RESOURCES

• NON-MATERIAL RESOURCES

• NON-HUMAN RESOURCES

• HUMAN RESOURCES

Are requirements for sustaining life and promoting physical and mental growth for the children within the family.

• BASIC WANTS

• MATERIAL RESOURCES

• NON-MATERIAL RESOURCES

• BASIC NEEDS

Fuels the human body. Without it, the body cannot grow or perform at its best, the organs will stop working properly, and the body eventually dies.

Is a fiber and textile material worn on the body to enhance personal appearance and protect it from extreme temperatures and elements of various climate.

• FOOD

• CLOTHING

• WATER

• EDUCATION

Serves as protection against natural threats, such as extreme weather and dangerous creatures, and even as security against other human beings.

• SHELTER

• FOOD

• CLOTHING

• WATER

Are things such as acceptance, appreciation, belonging and companionship. Essentially, these needs are met by forging relationships with other people.

• BASIC NEEDS

• BASIC WANTS

• SOCIAL NEEDS

• NON-SOCIAL NEEDS

Is money that an individual or business receives in exchange for providing goods or services.

• INCOME

• SALARY INCOME

• SALARY

Is the total income earned by all the members of the household.

• INCOME

• SALARY

• PROFIT

• FAMILY INCOME

Which of the following is not a type of a family income.

• SALARY INCOME

• REAL INCOME

• MONEY INCOME

• PSYCHIC INCOME