Ch 16: Money & Resource Management

About This Chapter

Review strategies for creating budgets, using credit and other money-related practices with this short but informative chapter. These lessons are great resources to support your finance or family science class studies or to help you prepare for professional certification exams.

Money and Resource Management - Chapter Summary

From personal budgets to pension plans, this chapter covers financial considerations that individuals and families face throughout their lives. You'll review consumer credit, retirement plans, and income and expenses budgeting. The lessons also cover insurance types, including health, life, unemployment, property and short- and long-term disability insurance. After you complete your review of these lessons, you should be able to:

  • Describe how to create household and personal budgets
  • List types of consumer credit and explain credit protection
  • Detail the types and roles of financial institutions
  • Discuss how to choose a life insurance policy
  • Provide details about personal property, liability, and long and short-term disability insurance
  • Define and explain the use of unemployment insurance
  • Understand retirement and pension plans
  • Talk about resource management techniques

Create a convenient and flexible study schedule with lessons that are accessible 24/7 from any device. You can also print the video transcripts to create handy reference material for times you don't have access to a computer or mobile device. Complete the self-assessment quizzes to determine your readiness to move on from one lesson to the next.

11 Lessons in Chapter 16: Money & Resource Management
Test your knowledge with a 30-question chapter practice test
Household Budgets & Personal Financial Management

1. Household Budgets & Personal Financial Management

In this lesson, we'll explain and define the components of a budget: income, expenses, and discretionary income. You'll also learn how to categorize income and expenses as fixed or variable.

How to Create a Personal Budget: Tools & Examples

2. How to Create a Personal Budget: Tools & Examples

Creating a personal budget doesn't have to be overwhelming or discouraging. There are four basic steps to create an effective budget. This lesson will walk you through the steps to create a solid budget.

Consumer Credit: Types & Differences

3. Consumer Credit: Types & Differences

In this lesson, we'll discuss creditworthiness and different types of consumer credit: installment, non-installment, and revolving credit. You'll also learn about repayment requirements for each and if there's a cost to borrowing the money.

What Is Credit Protection? - Laws & Services

4. What Is Credit Protection? - Laws & Services

Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.

Types of Financial Institutions: Definition, Examples & Roles

5. Types of Financial Institutions: Definition, Examples & Roles

In this lesson, we'll explore three types of financial institutions and their roles in financial intermediation. By the end of the lesson, you should also be able to provide an example or two of each type of institution, some of which you may have already used in real life.

Choosing a Life Insurance Policy

6. Choosing a Life Insurance Policy

In this lesson, we'll discuss the purpose and benefits of life insurance, as well as the factors that affects its cost. You'll also learn about the two main types, term life insurance and whole life insurance.

Personal Property & Liability Insurance

7. Personal Property & Liability Insurance

In this lesson, we'll define liability and discuss how liability insurance can protect your personal property. You'll learn about four different types of liability coverage: homeowner, renter, auto and personal umbrella policies.

Health Insurance: Types & Concept

8. Health Insurance: Types & Concept

Did you know that there are an estimated 1 billion health insurance claims filed each year? Learn more about the different types of health insurance that are available in the United States.

Long-Term & Short-Term Disability Insurance

9. Long-Term & Short-Term Disability Insurance

Have you ever wondered how people are able to pay their bills if they suddenly cannot work due to illness or injury? In this lesson, we'll define long-term and short-term disability. You'll also learn about the activities of daily living and Social Security benefits.

Unemployment Insurance: Definition and Significance

10. Unemployment Insurance: Definition and Significance

While no one wants to think about it, it is likely that most people will face some period of unemployment during their working lives. In this lesson, you'll learn about unemployment compensation and its significance to employers, employees and the economy.

Understanding Retirement and Pension Plans

11. Understanding Retirement and Pension Plans

Businesses use many different types of retirement plans for their employees. Two of the most common are pension plans and 401(k) plans. This lesson discusses these two kinds of retirement plans.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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