FAMILY MANAGEMENT Flashcards
things need for a family to be alive
basic needs
what are the basic needs of a family
food, water, oxygen, clothing and shelter, and safety and security
refers for ones need for love, acceptance, trust, sense of belongingness
social needs
intangible things that vary from one person to another
human resources
things anyone can have or use
nonhuman resources
the money earned by the members of a family
family income
money earned from employment
salary and wages
this is the way where his/her money is doing the work for them
Invesment
the assistance of the government for people who are not able to earn enough money
government assistance
goods brought or services with the family’s income as payment
family expenses
these are the things that the family should pay first and regularly
fixed expense
these are the things brought to satisfy the wants of the family
flexible expense
a plan for the spending of the family income
budget
allocating the family income to the different expenses of the family
budgeting
the biggest part of the family budget
food
