This document discusses the importance of budgeting for families. It defines a budget as a plan for spending and saving given one's income over a period of time. The document notes that without a budget, a family may find their money is not enough at the end of the day. Proper budgeting balances income and expenses, gives a sense of comfort and satisfaction, enables prioritizing of needs over wants, and allows for savings. The document asks students to consider the differences between families that do and do not budget their monthly income, and to list the importance of budgeting and factors affecting family budgets.

1. Prepared by:
JAYPEE S. TILLOR
EPP 6 Teacher
MANAGEMENT OF
FAMILY RESOURCES

2. What is the definition of
budget?
BUDGET
A sum of
money
allocated
for a
particular
purpose.
One of the
most
effective
ways to
handle
money
wisely.
Is a list of
items that
one plans to
spend in a
given time,
given
income, or
amount.
It is not
only plan
for
spending;
it is also a
plan for
saving.
A budget is
spending for the
future includes
savings and
investments
intended for the
future of the
children or the
family in
general.

3. *Have you experience that
your money is not enough
for that day and you don’t
have left?

4. *What did you do?
*Why did it happened?

5. *List down all the possibilities that will
happened if a family will not be able to
budget their monthly income.
*1. ________________
*2. ________________
*3. ________________
*4. ________________
*5. ________________

6. *Write your answer in the
paper.
*After 5 minutes, one
representatives will report.

7. *Checking of output

8. *Why do you think
budgeting is important?

9. 1. Balance your income and
your expenditures.
If your expenditure is greater than your income, you
end up in debt. If your income is greater than your
expenditure, then you have savings.

10. 2. Give a feeling of comfort
and satisfaction knowing
that your income is enough
for the expenses of the
family.

11. 3. Enable the family to list
down their needs and
wants and to prioritize the
needs more than their
wants.

12. 4. Give the family a full and
better life knowing that the
needs are satisfied first
before the wants.

13. 5. Have a constant
reminder that you are in
control of the family
finances, thus, reducing
worries, tension and stress.

14. Why is a budget
important?

15. Why does one need to
list down all expenses
for the future?

16. *There are two kinds of families given, the one
who has proper budgeting their monthly income
and the one who keeps on spending their
monthly income without budgeting.
*Based on the given situation, write the
differences of the two families. Write what will
happen to their income after one month.
*Write your summarized explanation in the
paper.
*Pass your work.

17. A.List down the importance
of budgeting.
1.
2.
3.
4.
5.

18. B. What are the factors
affecting family budget?
1.
2.
3.
4.
5.

19. – Dave Ramsey