NCERT Class 11 Home Science Financial management and planning

Read and download NCERT Class 11 Home Science Financial management and planning in NCERT book for Class 11 Home Science. You can download latest NCERT eBooks chapter wise in PDF format free from Studiestoday.com. This Home Science textbook for Class 11 is designed by NCERT and is very useful for students. Please also refer to the NCERT solutions for Class 11 Home Science to understand the answers of the exercise questions given at the end of this chapter

NCERT Book for Class 11 Home Science Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning

Class 11 Home Science students should refer to the following NCERT Book Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning in Class 11. This NCERT Book for Class 11 Home Science will be very useful for exams and help you to score good marks

Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning NCERT Book Class 11

FINANCIAL

MANAGEMENT

AND PLANNING

LEARNING OBJECTIVES

After completing this chapter the learner is able to —

• understand the meaning and concept of financial management.

• know the different types of income.

• explain the steps in making family budgets.

• describe meaning of savings and investments.

• discuss the principles of sound investments.

16.1 INTRODUCTION

(i) FINANCIAL MANAGEMENT in the context of a family simply means management of finances. Finances are all types of income available to a family which include salary, wages, rent, interest, dividends, bonus, retirement benefits and all other forms of monetary receipts. Planning, controlling and evaluating the use of all these types of incomes is called financial management. Its purpose is to give the family greatest satisfaction from the resources at hand. The quality of living that can be exchanged for financial resources is dependent not only on how much income is available, but more importantly on the regularity and stability of income. Therefore, it is important to learn the skill of managing money as a resource. This chapter will deal with the types of family income, management of income and the steps in making family budgets.

(ii) FINANCIAL PLANNING is a component of financial management. The term budget is often used for the planning stage in financial management.When families make budgets, they see to it that the family income is used in a manner that fulfills all the present needs of the family members and also takes care of the long term goals of the family. Thus families are able to achieve their objectives by optimising the use of their resources. In addition, financial planning minimises wastage of money on non-essentials, thus making families save a part of their income for future use. This is, however, possible when the family monitors its financial plans and evaluates the plans from time to time. Commitment of family members towards the success of the financial plan is very important for it to show any results. Management is using what you have (resources) to achieve what you want (goals and objectives). Family resources are the resources that are available to the individual or the family at a particular time, which help them reach their family goals. Family resources include human resources such as knowledge, skills, health, time and energy; material resources such as housing, money and investments; and community resources such as the library, parks, community centres, hospitals etc. In order to ensure maximum utilisation of resources it is important to manage them well. A family is a consumption unit while being a social unit, and its purpose is to manage the finances of the family for the well-being of its members. Money is one of the important family resources. A family cannot lead a comfortable life without sufficient money. Managing money effectively to meet present needs and future goals is a learned skill. So let us understand what we mean by family income.

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More Home Science Study Material ›

Human Ecology and Family Sciences Part I Chapter 01 Introduction
NCERT Class 11 Home Science Human Ecology and Sciences Introduction

Human Ecology and Family Sciences Part I Chapter 02 Understanding the Self
NCERT Class 11 Home Science Development and Characteristics of the self
NCERT Class 11 Home Science Influences on Identity How do we develop
NCERT Class 11 Home Science What makes me

Human Ecology and Family Sciences Part I Chapter 03 Food, Nutrition, Health and Fitness
NCERT Class 11 Home Science Food Nutrition Health and Fitness

Human Ecology and Family Sciences Part I Chapter 04 Management of Resources
NCERT Class 11 Home Science Management of Resources

Human Ecology and Family Sciences Part I Chapter 05 Fabrics Around Us
NCERT Class 11 Home Science Fabrics around us

Human Ecology and Family Sciences Part I Chapter 06 Media and Communication Technology
NCERT Class 11 Home Science Media and communication technology

Human Ecology and Family Sciences Part I Chapter 07 Effective Communication Skills
NCERT Class 11 Home Science Effective Communication Skills

Human Ecology and Family Sciences Part I Chapter 08 Living and Working in a Global Society
NCERT Class 11 Home Science Living and working in a global society

Human Ecology and Family Sciences Part I Chapter 09 Relationships and Interactions with òSignificant Others
NCERT Class 11 Home Science Community and Society
NCERT Class 11 Home Science Relationships and Interactions
NCERT Class 11 Home Science School Peers and Educators
NCERT Class 11 Home Science Understanding Family Community and Society

Human Ecology and Family Sciences Part I Chapter 10 Concerns and Needs in Diverse Contexts
NCERT Class 11 Home Science Learning Education and Extension
NCERT Class 11 Home Science Nutrition Health and Hygiene
NCERT Class 11 Home Science Resource Availability and Management
NCERT Class 11 Home Science Textile Traditions in India
NCERT Class 11 Home Science Work Worker and Workplace

Human Ecology and Family Sciences Part II Chapter 11 Survival, Growth and Development
NCERT Class 11 Home Science Human Ecology and Sciences Survival Growth and Development

Human Ecology and Family Sciences Part II Chapter 12 Nutrition, Health and Well-being
NCERT Class 11 Home Science Nutrition health and well being

Human Ecology and Family Sciences Part II Chapter 13 Care and Education
NCERT Class 11 Home Science Care and education

Human Ecology and Family Sciences Part II Chapter 14 Our Apparel
NCERT Class 11 Home Science Our Apparel

Human Ecology and Family Sciences Part II Chapter 15 Health and Wellness
NCERT Class 11 Home Science Health and Wellness
NCERT Class 11 Home Science Human Ecology and Sciences Health and Wellness

Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning
NCERT Class 11 Home Science Financial management and planning

Human Ecology and Family Sciences Part II Chapter 17 Care and Maintenance of Fabrics
NCERT Class 11 Home Science Care and maintenance of fabrics

Human Ecology and Family Sciences Part II Chapter 18 Perspectives in Communication
NCERT Class 11 Home Science Perspectives in Communication

Human Ecology and Family Sciences Part II Chapter 19 Individual Responsibilities and Rights
NCERT Class 11 Home Science Individual responsibilities and rights

Printable Worksheets

Printable Worksheets for Class 11 Home Science Worksheets

Latest Syllabus

CBSE Class 11 Syllabus for Home Science

Sample Papers

CBSE Sample Paper for Class 11 Home Science

Question Papers

CBSE Class 11 Home Science Previous Year Question Papers

NCERT Books

NCERT Book for Class 11 Home Science

Home Science NCERT Book Class 11 Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning

The above NCERT Books for Class 11 Home Science Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning have been published by NCERT for latest academic session. The textbook by NCERT for Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning Home Science Class 11 is being used by various schools and almost all education boards in India. Teachers have always recommended students to refer to Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning NCERT etextbooks as the exams for Class 11 Home Science are always asked as per the syllabus defined in these ebooks. These Class 11 Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning book for Home Science also includes collection of question. We have also provided NCERT solutions for Class 11 Home Science which have been developed by teachers of StudiesToday.com after thorough review of the latest book and based on pattern of questions in upcoming exams for Class 11 students.

NCERT Book Class 11 Home Science Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning

The latest NCERT book for Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning pdf have been published by NCERT based on the latest research done for each topic which has to be taught to students in all classes. The books for Class 11 Home Science Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning are designed to enhance the overall understanding of students. All Class 11 NCERT textbooks have been written in an easy to understand language which will help to enhance the overall level of Class 11 students.

Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning NCERT Book Class 11 Home Science

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Class 11 Home Science Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning NCERT Book

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Class 11 Human Ecology and Family Sciences Part II Chapter 16 Financial Management and Planning NCERT Book Home Science

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