Management Of Family Resources

Lesson 34 : System For Money Management By Families

Defining Success In Terms Of Life Style

Life style is more than a single eco­nomic goal. It is a clear and concise view of the kind of living that will bring satisfaction to all members of the group and to other people necessary to make that life style satisfying. It is a composite of consumer practices, goods and services, income and financial security, occupation and employment patterns, and roles and role combination.

The desired life style is more likely to be achieved if there is an agreement about goals and harmony in the attitudes of persons in the group. Values are strongly reflected in views of what is satisfying. Choice of life style is a central decision that produces many satellite decisions related to specific goals that contribute to the desired style of living, such as the choice of an occupation to support the chosen way of life, or selection of a living unit to provide an appropriate environment for family interaction.

• Timing Goals and Establishing Priorities
• Estimating the cost of the goals
• Analyzing the financial Resources