FMST 238 Chapter Notes -Washing Machine, Natural Capital, Clothes Dryer

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Published on 16 Apr 2013
School
UBC
Department
Family Studies
Course
FMST 238
FMST238 Textbook Notes
Management Model Case study
1. Identify problem, need, want or goal,
Problem: People are wasting too much water. There is only limited amount of
water on earth. (Problem: questions, dilemmas, or situations that require
solving)
Goal: We need to save water resource for future generations(
Future generations to come need enough clear water to survive. Need: what
we need to survive or sustain life) (Wants: are thing we desire)
People need to food, air, and shelter to survive. Wants are more specific, they
are things or activities that make people feel comfortable and satisfied.
(Goals: are end results that require action for fulfillment)
2. Clarify Values
Value: are principle that guide behavior.
Value: Sustainability, the conscious design and the consideration of impacts of
consumption choices make on the environment given finite resource.
Conscious design or consideration of influences of human consumption choice to
satisfied both contemporary needs and future prosperity given finite resources in
the world.
Sustainable development
3. Identify resources
Resources: are whatever is available to be used.
Water-saving appliances: washing machine, dish-washer, toilet
Water-saving knowledge and strategies
4.Decide, plan, and implement
Decision making refers to choosing between two or more alternatives.
When buy a washing machine, choose the water-saving eco-friendly washing
machine over others.
Planning: requires making a series of decisions that lead to action
Plan showering time, reuse water for different purpose.
Implementing: putting plans into action, take shorter slower, take a record sheet
about whiter usage on daily base and compare. integrated waster management
for waste
5. Accomplish goals and evaluate
Was the problem solved? Not yet, but our saving water efforts make it better
What was learned? How useful is our plan and strategies
Which decision or plan worked and which ones failed?
What adjustments should have been made?
6.Feedback
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Information that returns to the system the enables the individual's overall
management knowledge and ability to grow.
Recommended Financial Management Behaviour
Saving
Financial goals
Budget
Record keeping
Wise credit card use
Insurance
Estate planning
Obstacles to use of recommended practices
To budgeting
Rest of Practise
Adequate emergency fund
Financial Managers
Perceive information in 2 ways
In detailed fashion
In categories
Evaluate information in 2 ways
Orderly, step by step
Intuitively
Proposed types of financial managers two were found
Feeling
Perceive information in details, evaluate intuitively
Analyze
Perceive information in details, evaluate sequentially
(I have carefully planned my insurance, stock, bank.
Systematic
Perceive information categorically, evaluate sequentially
Holistic
Perceive information categories, evaluate intuitionally.
Youth Financial literacy survey
Use of mainstream financial product
Checking accounts 85%
Saving accounts 74%
Credit Card 72%
Student Loan 28%
Personal line of credit 22%
Banking reference
Online banking 58%
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ATM 26%
Tellers 12%
Financial Management practice
Review financial statement monthly 75%
Or every few mouth 11%
Rest don't because
Do so online
Too lazy
Have a budget, only 22% stick with it
Saving money for future 64%
Purchasing payement 1st choice
Debt card 47%
Cash 32%
Credit Card 20%
Purpose of saving
Buy a home, education, future in general or for emergencies
Debt of young Canadian 50% say is as much or more then they can handle
$10,000 or more 36%
$20,000 or more 21%
Credit Card debt
Student Loans
1. Most have sole responsibility for managing their finances
2. Most believe they have at least a fair understanding of personal financial
matters
3.Most think they do a good job of managing
4. Only 25% have bad personal finance trainings.
Repaying student Loans Canada
Who had most difficulty repaying student loans?
Larger amount of loan
Field of study (income, harder to get a job)
- Humanities
- Interdisciplinary studies
- Fine arts and applied arts
Slower at repaying student loans when
-Continue their studies
-Have financial difficulties
-Can find a steady, well-paying job to take advantage of lower interest rate
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Document Summary

Management model case study: identify problem, need, want or goal, There is only limited amount of water on earth. (problem: questions, dilemmas, or situations that require solving) Goal: we need to save water resource for future generations( Future generations to come need enough clear water to survive. Need: what we need to survive or sustain life) (wants: are thing we desire) People need to food, air, and shelter to survive. Wants are more specific, they are things or activities that make people feel comfortable and satisfied. (goals: are end results that require action for fulfillment: clarify values. Value: sustainability, the conscious design and the consideration of impacts of consumption choices make on the environment given finite resource. Conscious design or consideration of influences of human consumption choice to satisfied both contemporary needs and future prosperity given finite resources in the world. Resources: are whatever is available to be used. Decision making refers to choosing between two or more alternatives.

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