TLE Home Economics

Quarter 3: LAS 1 (Week1)

Name _________________________________ Section___________

Manages Family Resources Applying the Principles of Home Management

Writer: Maria Fe S. Mesias

Resources are a stock or supply of money, materials, staff, and other assets that can be drawn on by a
person or organization in order to function effectively.
Resources are categorized into the following:

• Human

• Material

• Non material

Resource Management is the process in which individuals and families use what they have, to
get what they want. It begins with thinking and planning and ends with the evaluation of actions taken.

Classification of Family Resources 1. Human Resources

These are the qualities of family members that contribute to their overall well-being. Human resources
are developed through education, skills, attitude, knowledge, energy, and time.

2. Material Resources

Tangible family resources that are available to you for usage. These are essential for the
achievement of most goals. It includes everything owned by the family like money, salary, rent,
goods, house and lot, car, household equipment, among others.

Non-monetary material resources are valuable too because they can be sold for a certain
amount cash. Examples of non-monetary materials include plants and equipment.

3. Non-material Resources

Time, health, and experience are intangible resources but are also important. Without non-
material resources, family members will be unable to perform their duties and responsibilities at
home, in school, and at work.

Categorized each of the following if it is Human, Material, or Non-material resources.

 Human Resources Material Resources Non-material Resources

     

     

     

House and lot Money Skills Car Education

Time Salary Rent

Choose the letter of the right words that fills in the following statement below.
1. A ___________ include anything tangible or intangible that helps provide for the needs of its
members.
a.Family’s resources b. Income c. Salary d. Wages
2. Through education, skills, attitude, knowledge, energy, and time ___________ are developed.
a.Resources b. Non-material resources c. Material resources d. Human Resources
3. Resources that includes everything owned by the family like house and lot, appliances, and jewelry
are ___________.
a.Non-material resources b. Resources c. Material resources d. Human Resources
4. The ___________ of the family is very important. Family members can do their duties without delay
when they are in good health.
a.Time b. Health c. Energy d. Values
5. Out of the family resources, the most common used resources are ____________, energy and
money.
a.Health b. Time c. Values d. Energy

Enumerates Sources of Family Income

Choose the correct option from the choices given to complete the statement.

1. Income means

a. money b. house c. furniture d. all of the above

2. Family income means

a. income of all related persons living in the household c. right to consume goods and
services

b. commodities and services produced in the country d. all of the above

3. Where does the income of the family come from?

a. wage or salary b. profit c. pension d. all of the above

Write T if the statement is true and F if the statement is false.

______ 1. People who can contribute their time, skills, and expertise are considered human
resource. ______ 2. Time, health, and experience are tangible resources.
______ 3. Money falls under material resource.
______ 4. Income is money received, especially on a regular basis, for work or through
investments. ______ 5. Salary is one of the sources of family income.

Family needs money to sustain its growth and achieve its goals.
 Income is the money that flows into the family to be used in exchange for goods, services,
or energy. It may also be earning from the use of your skills or profit from your household
produce etc.

When you use your skills like stitching clothes for family members or growing vegetables
at home for your consumption or knitting sweaters for family members, you do not get any money
in hand but at the same time you save money which you would have given to the tailor for
stitching or for buying a sweater or vegetables etc. Such savings add to your income.

Family income is the total income earned by all the members of the household in all
sources like salary of

family members, rents, and interest received from banks and savings from using skill of family me

 Sources of family income

Salary earned for services rendered

• Bonuses, commissions, or honoraria given by an employer to employees

Profits earned from business

• Rentals from owned properties

• Dividends from stock holdings

What is It

Whatever is earn in the form of money which comes into the family is called income

Types of family income

1. Money Income

2. Real Income

3. Psychic Income

Money income maybe in the following forms:

a.Salary - Monthly salary of all the members who are doing government or private services.

b.Wages - Daily, weekly or monthly wages

c. Rent - Rent of the house and real estate

d.Interest - Interest of the capital deposited in banks, post offices or from lending money.

e.Projects - Profits from investment either in business or any other sources.

f. Sick Benefits - Medical Allowances

g.Pensions - Money received by retired persons, old age widow and other pensioners

h.Gift, dividends, securities, royalties etc. - Money income which provides additional comforts
enjoyed by the family.

Real income of the family consists of:

 a. Inherited landed property, which yields crops for the family.

b. Food furnished by a kitchen garden.

c. Dairy farming and poultry farming.

d. Durable goods and commodities owned by the family.

e. Kneading, embroidery, tailoring, pickling, baking and activities carried out in home.

f. All types of knowledge and services (Household activities) provided by the members of the
family.

g. Community facilities like parks, markets, hospitals, roads, schools, colleges, libraries,
dispensaries, fire and police protection, community entertainments, social centers etc. Proper
utilization of all these can increase the real income of the family.

Psychic Income:

This income is the flow of satisfaction derived by the family from the use of money income and
real income. This income is also called as enjoyment income, experienced over a given period of time
by the proper utilization of money income and real income. We must maximize psychic income,
because our ultimate goal is to derive maximum satisfaction and peace from life. It is in the form of
rewards (as in prestige, leisure, or pleasant surroundings) not measurable in terms of money or goods
but serving as an incentive to work in certain occupations or situations a creative artist can reap a
psychic income that money cannot match.

Tips in Wise Spending of Your Income

• Make a list of all the things needed at home and their specification.

• Compare the prices of the products to be bought. Avoid buying things with higher prices than
usual.

• Buy in bulk the things that are needed every day.

• Buy fruits and vegetables in season.

• Know the substitute ingredients for expensive items.

• Be familiar with the stores offering lowest prices.

• Go to a store where you can be assured of good quality and standard p

Match Column A with Column B. Write the letter on the blank before each number.

A B
_______ 1. The money that flows into the family to be used a. real income
in exchange for goods, services, or energy. b. income
_______ 2. The total income earned by all the members of the c. family income
household. d. money income
_______ 3. Types of family income were income of the family e. psychic income
includes all the earnings in a specific period of time.
_______ 4. It is the flow of goods, services and community facilities available for a specific period of
time.
_______ 5. This income is the flow of satisfaction derived by the family from the use of money income
and real income.

What I Have Learned

Read and analyze the following tips in wise spending of your income. Align those tips in the group
where it is belong. Write only the letters of the correct answer.
a. Make a list of all the things needed at home and their specification.
b. Accept free samples or try something on just for fun.
c. Compare the prices of the products to be bought. Avoid buying things with higher
prices than usual. d. Buy in bulk the things that are needed every day.
e. Bring more cash with you than you need.
f. Buy fruits and vegetables in season.
g. Know the substitute ingredients for expensive items.
h. Grab all the things you want because it is sale.
i. Be familiar with the stores offering lowest prices.
j. Go to a store where you can be assured of good quality and standard price.

Wise Spending of Your Income Unwise Spending of Your Income

   
Assessment
Identify whether the given item in each number falls under money income, real income, or psychic
income. Write MI for money income, RI for real income and PI for psychic income.
_______ 1. Prestige _______ 6. Wages
_______ 2. Monthly Salary _______ 7. Orchard (farm)
_______ 3. Dairy farming _______ 8. Rent
_______ 4. Leisure _______ 9. Baking
_______ 5. Pensions _______ 10. Rice plantation