Resource Management (Leaving Cert Home Economics): Flashcards
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Practise the cards
15 cards from this deck
What is family resource management?
What is family resource management?
Strategic use of resources to maximise satisfaction & quality of life
Three key family resources
Three key family resources
Time, money, and energy
Financial stability objective
Financial stability objective
Covering money needs, building savings, investing, & managing debts
Time management objective
Time management objective
Balancing work, leisure, and quality family time
Resource allocation objective
Resource allocation objective
Making best use of resources to satisfy family needs & wants
Closed system definition
Closed system definition
Operates with minimal interaction with outside world
Closed system key limitation
Closed system key limitation
Limited ability to adapt when external circumstances change
Open system definition
Open system definition
Actively engages with external environment & opportunities
Open system key feature
Open system key feature
Flexible and responsive when external conditions change
Financial management foundation
Financial management foundation
Creating and sticking to a realistic budget
Managing household debt
Managing household debt
Handling loans and credit wisely and responsibly
Household cleaning approach
Household cleaning approach
Shared responsibility with tasks divided by age & abilities
Meal planning purpose
Meal planning purpose
Ensure proper nutrition while staying within budget
Advance meal preparation benefit
Advance meal preparation benefit
Saves valuable time during busy periods
Coordinating family schedules
Coordinating family schedules
Balancing school, extracurricular activities, & family time