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Resource Management

Resource Management. FCS. What are resources?. Resources are things of value or usefulness. material resources- include concrete objects like money, water, clothing, tools, house, car, etc…

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Resource Management

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  1. Resource Management FCS

  2. What are resources? • Resources are things of value or usefulness. • material resources- include concrete objects like money, water, clothing, tools, house, car, etc… • non material resources- include things that are not physical like time, knowledge, or personal characteristics/qualities What are your resources? How do you manage them? QUIZ

  3. How do you mange your resources? • Money • Saver, spender, or investor? • Other material resources • Repair, replace, or repurpose? • Non material resources • Protect, waste, or develop?

  4. How should you manage your resources? • Prioritize- choose the most important things first • Know the difference between • Needs – Things that are necessary for life • Wants – Things that make life more comfortable or enjoyable • Make a plan • Budget, schedule, or find ways to maximize your resources. What can you do with what you have?

  5. Budgeting: a plan for your MONEY Resource Management FCS

  6. Budget • A budget is a plan for your money. • Keeping a budget is important because it helps… • you prioritize your spending • you achieve your financial goals • keep you out of financial trouble

  7. Before you can create a budget you must determine your: • Income- the amount of money you receive or earn regularly. • Expenses- the amount you spend. • Fixed expenses- Don’t change, the same each month (rent, car payment, etc.) • Flexible expenses- Can be different each month… you have some control (phone bill, electricity, food etc..) • Discretionary expenses- Money you choose to spend on “wants” (movies, games, etc)

  8. Sample Family Budget

  9. Qualities of a Good Budget • Expenses should be less than income! (Never spend more than you earn) • Include savings (Save for big purchases and your future) • Plans for unexpected expenses.

  10. Envelope Budgeting

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