1 / 15

Resource Management

Resource Management. Grade 12 Family Studies December 6 th. Scrooge McDuck and Money!. http://www.youtube.com/watch?v=tP3Rv-nib5M&safety_mode=true&persist_safety_mode=1&safe=active. Finances. What are finances? Monetary resources of an individual or organization Equity

kitra
Download Presentation

Resource Management

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Resource Management Grade 12 Family Studies December 6th

  2. Scrooge McDuck and Money! http://www.youtube.com/watch?v=tP3Rv-nib5M&safety_mode=true&persist_safety_mode=1&safe=active

  3. Finances • What are finances? • Monetary resources of an individual or organization • Equity • What is standard of living? • agradeorlevel of subsistence and comfort in everyday life enjoyed by a community, class, or individual • Ranges from low to high

  4. Financial Insecurity • What is it? • Not having the resources to support a certain standard of living • Sometimes caused by: • Unemployment • Demotion • Poverty • Serious illness/disability • Divorce/Separation • Poor spending habits

  5. Consumer Debt •  Money owed by an individual • Primarily caused by purchasing consumer goods or services beyond their standard of living …..How does someone get out of debt?

  6. How are people spending their money? 1) Fixed Expenses • Remain the same over time. • Must be paid by a certain date. • Examples: • Mortgage/Rent payments • Loan payments • Car insurance

  7. How are people spending their money? 2) Variable Expenses • Payments that are made every month, but the amount changes. • These expenses change as your needs change (in the winter you need a gym membership but in the summer you run outside) • Examples: • Groceries • Phone bill • Transportation costs (bus pass, gas for your car, car maintenance) • Club dues

  8. So how does a person/family get out of debt????? Would it be easier to cut “fixed” or “variable” Expenses?....

  9. Economizing • What can we cut from our budgets without lowering our basic quality of life? Some examples… 1) Food • Must have the foods that are essential to yours and your families health. • Cut the prepared/packaged foods and try to make meals and snacks from scratch. • Compare prices of different stores using newspaper ads and the internet. • Buy sale items/use coupons • Buy “generic foods” • Buy in bulk • Eat at home—Fast food is expensive!

  10. Economizing… 2) Clothing • Buy during end-of-season sales • “Name-brand” should hold less importance when economizing • Shop at discount/second hand stores 3) Entertainment • Entertain at home—board games, movie nights • Borrow movies from the library • Wait for movies to get to the “cheap seats”

  11. Economizing… 4) Maintenance • Do it yourself!—Before hiring someone to do something at your house, try to do it yourself if you know how! • Use “how-to” books and internet tutorials • Examples: House cleaning, painting, cutting the lawn, washing your car, etc. 5) Incidentals • Examples: Alcohol and Tobacco • Can result on significant savings • Health and relationships would improve

  12. Benefits of Economizing • Can save A LOT of money • Less stress in the home • A person feels more in control of their life • By creating a budget, a person/family can see where all of their money is going

  13. Case Study • In pairs or individually, read through the following case study. Answer the questions and submit a half page write-up (can be typed). Joanne and Clinton are married with no kids. Both of them work 9-5 jobs, Monday-Friday. The couple is finding that they are living pay-cheque to pay-cheque and are not putting any money away for the baby they are trying to have. Both Joanne and Clinton drive their own cars to and from work each day. They enjoy fast-food and rarely cook at home. They also enjoy going for long walks in the evening along the river behind their home with their dog. This couple enjoys socializing: Joanne takes yoga classes three times a week with her girlfriends and Clinton often goes out for food and drinks with his friends. In order for the couple to start saving for their baby, which activities should they stop? What could they do instead? What activities should they keep doing?

  14. “Till Debt Due us Part” • Watch the Video: • http://www.slice.ca/Slice/Watch/Default.aspx?ID=v • Answer Questions on hand out

  15. Budgeting with Gail Vaz-Oxlade! • http://www.gailvazoxlade.com/resources.html

More Related