Transcript Document
Individual and Family Resource Management: Finding the Balance Created by: Chris Kolba, Social Worker, Community Liaison, mother, former student, employee, etc Modified by Robyn Mitchell May 2010 7/17/2015 1 Introduction The purpose of this presentation is to understand how individuals and families acquire and manage resources, what happens when they are unable to do so, and effective and ineffective ways of coping with this. 7/17/2015 2 Resource Management Using resources to meet wants and needs…financial and otherwise Effects of the loss of financial security-how does it effect resources How people cope with financial stress…good and bad 7/17/2015 3 Resources are The tools that individuals have, can access or create to meet the goals they have made for themselves and/or their families. Resources are of two types: Tangible Intangible 7/17/2015 4 Tangible Resources Library Schools, college, university, other Health Services Parks and Recreation Community Resource Centres 7/17/2015 Money Shelter Food Clothing Furniture Material Goods Equipment Vehicles/transportation Electronics 5 Intangible Knowledge Interests Skills Attitudes Health 7/17/2015 Time Energy Interpersonal Relationships Networks 6 Resource Acquisition Must consider Wants versus Needs… Throughout the lifespan (infancy, preschool, school age, youth/adult, senior years) people have needs and wants Parents and others provide all of the resource needs of infants. As children grow, they acquire resources on their own. 7/17/2015 7 Setting Goals Set goals for self/family Decide on which goals are important Consider your values values. A, noun. 1, values. beliefs of a person or social group in which they have an emotional investment (either for or against something); ... www.wordreference.com/definition/values Here is a list of examples of some values: http://www.selfcounseling.com/help/personalsuccess/person alvalues.html Use or build on resources to reach your goals 7/17/2015 8 Various sources of income Allowance Employment – self or employee Government programs 7/17/2015 Minimum wage CPP, EI, CTB, UCCB, OAS, Veterans Allowance- federal EIA, MCB, MSB, WCB, Child care subsidy-provincial Canada student loans, Manitoba student loans/bursaries Band allowances Federal sponsorships for immigrants/refugees Employment related insurance/benefit programs Investments (your money earns income for you) Loans, credit cards (sources of debt) Inheritances or gifts 9 Other than income Food banks Community Resource Centres Shelters Gardening Bartering Housework/child raising Savings Circle – Seed Winnipeg: http://www.seedwinnipeg.ca/SavingCircleProgram.htm 7/17/2015 10 Financial Insecurity Causes Loss of a job, or a demotion Convergys, Pine Falls... Separation/Divorce/Death Illness/Injury Increase in family size Natural or other Disaster such as war (refugees) Mismanagement of resources from individual to global level Other? 7/17/2015 11 Effects can be of many kinds: Physical Emotional Psychological Social/Relational Spiritual 7/17/2015 12 Physical Move to a new location or home-homelessness Stress related physical illness – exacerbation of existing condition depression diabetes hair loss heart disease hyperthyroidism obesity obsessive-compulsive or anxiety disorder sexual dysfunction tooth and gum disease ulcers cancer (possibly) It’s been estimated that as many as 90% of doctor’s visits are for symptoms that are at least partially stress-related! Change in “family” make up Working at a new job, or two jobs 7/17/2015 13 Emotional and Psychological Loss of self esteem Depression Irritability and restlessness Loss of leisure/recreational activities (applies to all three) Stress 7/17/2015 14 Social and Relational 7/17/2015 Increased stress and conflict with family Change in activities and companions outside of the home Separation/divorce Change in social status-loss of friends 15 Coping with Financial Difficulties There are effective and ineffective ways to cope when you experience financial stress…. Can you think of some of each? 7/17/2015 16 Coping…Well? Avoid paying bills Don’t answer the phone when creditors call Get more credit cards Borrow money Gamble Steal, wheel and deal Use excessive drugs and alcohol to release stress Don’t keep track of your money 7/17/2015 17 What to do 7/17/2015 Take stock –income and expenses Differentiate between needs and wants Work out a repayment plan with debtors See if bank can help you Contact counsellor –financial or otherwise Debt consolidation, orderly payment of debt, bankruptcy Individual, couple, family counselling Get rest, exercise, eat healthy, and think positive… Spend time with supportive people. Find ways to reduce costs and/or bring in additional income …. OR….. 18 • Grow a money tree! 7/17/2015 (… oh, don’t we only WISH!!!) Now, on a more realistic note….. 19 Budgeting Budgeting Guidelines for After-Tax Income Develop your budget with the money you have available after gov’t deductions from your pay cheque, but before voluntary deductions such as RRSP, pension and other savings. If you have expenses such as high debt payments, childcare, school expenses or giving you need to reduce your spending in other areas to accommodate these higher expenses. This guideline is only a starting point. Based on your income and family circumstances, your allocations may be different. 35% HOUSING – mortgage, taxes, rent, insurance and hydro 5% UTILITIES – phone, cell phone, electricity, cable, internet 10-20% FOOD – groceries, personal care, baby needs 15-20% TRANSPORTATION - bus, taxi, fuel, insurance, maintenance, parking 3-5% CLOTHING - for all members of the family 3% MEDICAL – health care premiums, specialist and over the counter medications 5-10% PERSONAL & DISCRETIONARY - entertainment, recreation, tobacco, alcohol, eating out, gaming, haircuts & hobbies 5-10% SAVINGS – Plan to save money for expenses that don’t occur every month. Having a little extra available is a good. 5-15% DEBT PAYMENTS – Many people find that their budget is quite tight because their monthly debt payments are closer to 25% of their net income. 7/17/2015 20 Sometimes less is more People make choices to make do with less, sometimes because they want to, at other times because they have to. Making do with less should still insure the meeting of basic needs 7/17/2015 21 You Are the One The willingness to accept responsibility for one's own life is the source from which self-respect springs. ~Joan Didion We have not passed that subtle line between childhood and adulthood until... we have stopped saying "It got lost," and say "I lost it." ~Sidney J. Harris When you blame others, you give up your power to change. ~Author Unknown "I must do something" always solves more problems than "Something must be done." ~Author Unknown Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. Margaret Mead 7/17/2015 22 Words of Wisdom Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius - and a lot of courage - to move in the opposite direction. ~E.F. Schumacher (Thanks, Arly!) Life is really simple, but we insist on making it complicated. ~Confucius Simplicity is making the journey of this life with just baggage enough. ~Author Unknown Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. ~From the movie Fight Club, based on the novel by Chuck Palahniuk 7/17/2015 23 You can never get enough of what you don't need to make you happy. ~Eric Hoffer Material blessings, when they pay beyond the category of need, are weirdly fruitful of headache. ~Philip Wylie The trouble with simple living is that, though it can be joyful, rich, and creative, it isn't simple. ~Doris Janzen Longacre People love chopping wood. In this activity one immediately sees results. ~Albert Einstein 7/17/2015 24