1. Resource Management
FCS

3. What are your resources? How do you manage them? QUIZ
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

4. 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?

5. 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?

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

8. 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

9. 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)

10. Sample Family Budget

11. 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.

13. Envelope Budgeting