Lesson 98-Prepare A Simple Family Budget

Name:
Address:
Indicate the Family Income:
Father:
Mother:
Brother:
Sister:
Other Income:
Total Income:
Less:Family Expenditures:
Food:
House & Lot:
(Rent)
(Own,if any)
Education:
Elementary:
High School:
College:
Household Help:
Clothing:
Utilities:
Electricity:
Water:
Telephone:
Recreation:
Total Expenses:
Savings:

Lesson 97-Managing Family income

*A well managed income is enough to meet the needs & satisfy wants.
*Savings-amount set aside for future use.
*Investments-putting an amount in terms of money productively.

Lesson 96-Family Budgeting

*Budget-a plan of expenditures versus income.
Factors to Consider in Budgeting:
1. Size of the family
2. Family income
3. Family needs
4. The place where the family lives
*Operational Budget-plan of expenses of the family in providing their needs without debts.
Composition of Operational Budget:
1. Food
2. Shelter
3. Clothing
4. Education
5. Household Expenses-helpers
6. Utilities-water,electricity,telephone
7. Medical & Dental Care
8. Recreations & Entertainment
9. Savings-future plan
*Needs-important
*Demands-wants that can be set aside

Lesson 95-Budgeting For Personal Use

How to Prepare Personal Budget:
1. Keep a record of your income.
2. prepare a list of your expenses.
3. Arrange them by priority.
4. Keep a record where your money goes to know if you have followed your listed priorities.
5. Make a habit of saving for future use.
Limiting Expenses:
1. Make a list of the things needed & buy only those that are in your shopping list.
2. Recycle before buying things for your personal or home use.
3. Use substitutes.
4. Do some window shopping first to compare prices.
5. Avoid spendthrift friends.
6. Avoid impulsive buying.

Lesson 94-Nature of Expenses & Income

*Family Income-combined earnings of parents & other family members with jobs.
*Salary-money earned
*Expenses-money paid for services rendered for purchase of goods needed.
2 Types of Expenses:
1) Fixed Expenses-payment done regularly( monthly )
2) Flexible Expenses-payments done once in a while as needs arises only ( sometimes emergencies)

Lesson 93-Receipts & Operational Expenses

Receipts-is a written proof of receiving an amount for goods or services rendered(for record keeping)

Lesson 92-Proper Packaging

*Packaging-involves the arrangement of the products in containers,boxes,cans,plastic packs, before it reaches the consumers.
*Perishable Goods-are those that are easily soiled.
Ex. Foods & beverages
*Fragile Products-are those that are easily broken like ceramics,crystals,glass, & should otherwise be placed in a steady container wrapped with shredded paper or plastics or scrap foam to prevent it's breakage.