TIPS AND IMPORTANCE OF FAMILY BUDGETING.pptx

budgeting

1. FAMILY BUDGETING MS. RIZZAQUEL R. DAQUIOAG

2. 2 PICS, 1 WORD

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4. + CONSUMER

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6. + BUDGET

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8. + NEEDS

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10. + EXPENSES

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12. + DEMANDS

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14. + INCOME

15. NEEDS EXPENSES CONSUMER BUDGET DEMANDS INCOME

16. CONSUMER A 'consumer' might be generally understood as a purchaser of goods and services for the personal satisfaction of themselves or other members of their households, as distinct from use to generate further income.

17. CONSUMER ACT OF THE PHILIPPINES (RA 7394) It is the policy of the State to protect the interests of the consumer, promote his general welfare and to establish standards of conduct for business and industry. Towards this end, the State shall implement measures to achieve the following objectives: a) protection against hazards to health and safety; b) protection against deceptive, unfair and unconscionable sales acts and practices; c) provision of information and education to facilitate sound choice and the proper exercise of rights by the consumer; d) provision of adequate rights and means of redress; and e) involvement of consumer representatives in the formulation of social and economic policies.

18. ACTIVITY !

19. CREATE A GROUP AND STUDY THE PROVISION, CHAPTER 1 TO CHAPTER 3. Synthesize the whole RA 7394. Present your synthesis infront of the class.

20. NATURE OF INCOME and EXPENSES

21. NATURE OF INCOME Income is activity — it is action — it has effect Income is a source of funds, not an asset, so it cannot be valuable. It is expressed as a monetary amount but it isn’t ‘money received. Income represents the part of the activity that creates value.

22. NATURE OF INCOME The nature of income is activity that increases the value of assets (or decreases liabilities). Income must therefore increase the value of equity (the residual of assets less liabilities).

23. TYPES OF INCOME Three main categories of income that are part of taxation are: ORDINARY INCOME CAPITAL GAINS TAX-EXEMPT INCOME

24. NATURE OF EXPENSES Expenses are activities that sacrifice or use up value. Expenses are not the same thing as expenditure. An expense is the cost of operations that a company incurs to generate revenue.

25. TYPES OF EXPENSES: Two main categories of expenses : OPERATING EXPENSES NON-OPERATING EXPENSES

26. BUDGETING

27. WHAT IS BUDGETING? The process of calculating how much money you must earn or save during a particular period of time, and of planning how you will spend it

28. WHY BUDGETING IS IMPORTANT? It a guide that keeps you on the path to reach your financial goals. Budgeting keeps your finances under control, shows when you need to make adjustments to your spending, and helps you decide where your money goes instead of wondering where it all went.