4 each of examples identify financial decision you have made or might have to make in the future. In the last column, tell what effect this decision may have on ur personal resources. (Personal resources include things such as money, time and health.)
TRANSPORTATION:
Financial decision - buy fuel, tire changes, oil changes
Effect on Personal Resources -
Health - Cause pollution
Time - Takes you shorter time to reach to your destination then having to walk there.
Money - Insurance for car
tolls
General revenue
FOOD:
Financial Decision - Groceries
Use of Credit Cards,
Restaurant
Effect on Personal Resources -
Health - provide you with nutrition
-Large supply of vitamins
Money - Taxes to cover
Time - Spent shopping
ENTERTAINMENT/RECREATION
Financial Decision - Paying for ticket
Renting movies
Services to handle
Effect on Personal Resources -
Health - short term pleasure
Late night entertainment result in loss of sleep
Money - Cost to the ticket and popcorn
Time - Wasted
EDUCATION
Financial Decision - Go to school
University
Internet(Online courses)
Books
Library
Electronic devices such as electronic dictionary,
calculator, etc.
Effect on Personal Resources -
Money -Pay fees for school supplies, etc.
Cost for degree programs
health-Stress
Tiredness
Feel very weary
Degrees
Time - Most of spent with friends, not family
PERSONAL GROOMING
Financial Decision -
Parlour
Nail manicure
Hairstyle-Barber
Products = Facial cleansers, cream, etc.
Effect on Personal Resources -
Health - Makes you feel good about yourself (Feel like you belong)
Money - There's a cost to it, pretty expensive
Time - Don't have enough time to spare to do other things.
SHELTER
Financial Decision -
Real Estate
Furniture
Clean facility
Effect on Personal Resources -
Money - Bills
Taxes
Insurances
Mortgages
Renovation
Health -No poverty
-Good care
Time - Most of it spended inside, not outdoors. Most of it spent on cleaning furniture, etc, doing house chores.
Anything else I could add in each of the columns?
Here are a few additional points you could consider for each category:
TRANSPORTATION:
Effect on Personal Resources:
- Health: Regular maintenance of the vehicle can ensure safety while driving.
- Time: The convenience of having a vehicle can save time compared to relying on public transportation or walking.
- Money: Unexpected repairs and maintenance may incur additional costs.
FOOD:
Effect on Personal Resources:
- Health: Choosing nutritious food options can contribute to overall well-being.
- Money: Dining out frequently can strain your budget, while cooking at home can be more cost-effective.
- Time: Meal planning and grocery shopping can take up time, but cooking at home may result in healthier meals.
ENTERTAINMENT/RECREATION:
Effect on Personal Resources:
- Health: Engaging in recreational activities can have mental and physical health benefits.
- Money: The cost of tickets, rentals, or subscriptions can impact your budget.
- Time: Participating in recreation may require setting aside time for leisure activities.
EDUCATION:
Effect on Personal Resources:
- Money: Paying for tuition, textbooks, and course materials can be a significant financial commitment.
- Health: The stress and demands of education can have an impact on mental and physical well-being.
- Time: Balancing educational obligations with other responsibilities can require time management skills.
PERSONAL GROOMING:
Effect on Personal Resources:
- Health: Self-care practices can contribute to overall confidence and well-being.
- Money: Personal grooming expenses can vary depending on individual preferences and choices.
- Time: Personal grooming routines may require setting aside time for grooming activities.
SHELTER:
Effect on Personal Resources:
- Money: Owning or renting a home involves expenses such as mortgage or rent payments, utilities, and maintenance costs.
- Health: Having a safe and comfortable living environment can contribute to physical and mental well-being.
- Time: Investing time in maintaining and cleaning the living space is necessary to upkeep the quality of the shelter.
Remember, these examples vary depending on personal circumstances and preferences.
In each column, you have covered the major financial decisions and their effects on personal resources for different categories such as transportation, food, entertainment/recreation, education, personal grooming, and shelter. However, there are a few additional points you could consider:
TRANSPORTATION:
- Other potential expenses include car repairs, car wash, parking fees, and car accessories.
- Time saved due to quicker transportation can be used for other productive activities.
FOOD:
- Additional expenses may include eating out, ordering takeout, or buying snacks and drinks.
- Time spent cooking and preparing meals can vary depending on the complexity of the dish.
ENTERTAINMENT/RECREATION:
- Other financial decisions could include purchasing video games, concert tickets, or sports equipment.
- Time spent engaging in recreational activities can contribute to mental well-being and stress relief.
EDUCATION:
- Other considerations might include the cost of tuition, textbooks, and additional equipment required for some courses (e.g., art supplies, lab equipment).
- Time spent studying and attending classes can have an impact on work-life balance and free time.
PERSONAL GROOMING:
- Additional financial decisions could involve purchasing skincare products, makeup, perfumes/cologne, and clothing.
- Time spent on personal grooming can contribute to self-confidence and overall presentation.
SHELTER:
- Other expenses to consider are home maintenance, utilities (electricity, water, internet), and home improvement projects.
- The time spent on home maintenance and cleaning can affect overall well-being and relaxation.
Remember, these are just additional examples that can help you think about the financial decisions and their effects on personal resources. The specific decisions and their impact may vary depending on individual circumstances and priorities.