DLP 8 Quarter 2 Management of Family Resources

2. What are the basic and social needs
we need to allocate in the family
income?Food
Clothing
Shelter Education
Social Needs Health
Social and Moral Obligations
Family Activities
School Affairs
Savings/Emergency Budget

3. Select one and
explain:
necklace, watch, car, air,
water, shelter, food,
cellphone, computer,
laptop, toothbrush,

4. Needs Wants

5. Based on the
activity, what do you
think the differences
between wants or
needs?

6. What is the definition of
needs?
Needs – are materials which the
family members need to survive
on a day-to-day basis like food,
shelter, clothing, education,
transportation, lights and water.
It is also called a requirement for

7. What is the definition of
wants?
Wants – are materials that the
family members desire to have.
It may be the desire to need.
They can be postponed if the
budget is not enough but can
be purchased if the budget

8. Why we should
know the
differences of
needs and wants?

9. To be
Considered
WANTSNEEDS

10. Create a diagram
showing the differences
and similarities of wants
and needs.
After 7 minutes present
your work in a creative

11. Answer the following with
true or false.
________1. Cellphones,
books, computers and
laptops are basic items
we need every day.

12. Answer the following with
true or false.
________2. Buy your
needs first before
anyone else.

13. Answer the following with
true or false.
________3. Wants
should be prioritized first.

14. Answer the following with
true or false.
________4. One important
consideration in making a
list of expenditures is to
know your priorities.

15. Answer the following with
true or false.
________5. Balance
your income and
expenditures.

16. Answer the following with
true or false.
________6. Buy
anything you want
without having a list of
expenditures.

17. Answer the following with
true or false.
________7. Allocate
your budget first to your
wants before your
needs.

18. Answer the following with
true or false.
________8. Always do
budgeting when you buy
your needs & wants.

19. Answer the following with
true or false.
________9. List of
expenditures is not
necessary in doing
budgeting.

20. Answer the following with
true or false.
________10. Needs are
the most important
things for us to survive.

21. Why is budgeting
important? (20
points)