CHFAM 2100, "FAMILY RESOURCE MANAGEMENT"
COURSE SYLLABUS

Spring Semester 2004

Catalogue Description: Understanding the significance of values, goals, attitudes and planning strategies in the management of human, economic and environmental resources as they relate to increasing satisfaction in the use of time, money, material, energy and skills, and the enhancement of family relationships.

CFLE Certification: This course is designed to meet the National Council on Family Relations (NCFR) Certified Family Life Educator (CFLE) Standard #6: Family Resource Management. Family Resource Management deals with "...goal setting and decision making; development and allocation of resources; social environment influences; life cycle and family structure influences; consumer issues and decisions."

Future Family Studies Majors: Students who declare the Family Studies Major are required to create a portfolio to document their accomplishment of the NCFR Standards. Keep assignments and projects for all Family Studies Major pre-core courses in order to have items to choose from when you begin your portfolio.

Course Objectives:
In order to successfully complete this course, each student will:
1. Clarify personal values by completing selected values clarification exercises
2. Identify and write down personal lifetime goals
3. Review the decision making process in a written worksheet
4. Organize personal time for a week and fill out a weekly planning sheet
5. Utilize specific financial management tools to evaluate and plan personal spending
6. Compare at least 4 credit card offerings and evaluate them with worksheet criteria
7. Request a personal credit report and provide documentation of request
8. Record all personal spending and use records to create new budgets
9. Attend classes and participate in class discussions
10. Demonstrate academic learning with successful completion of course exams

Jan 20 Lifetime Goals Resource Materials
22 Standards Resource Materials

Jan 27 Mission Statements Covey, Habit 2
29 Decision Making Covey, Habit 1 VIDEO: Make Up Your Mind

Feb 3 Exam I
5 Human Resources: Critical
& Creative Thinking Covey, Habits 4, 5 & 6

Feb 10 Time as a Resource Covey, Habit 3
12 Stress Mgmt and Balance Covey, Habit 7

Feb 17Economic Resources Winger, Ch. 1 & 2 Assign.Pkg."A"DUE
Oct 19 Balance Sheet &
Income Statement Winger, Ch. 3

Feb 24 Exam II
Feb 26 Financial Ratios &
Master Budgets Winger, Ch. 3

Mar 2 Tax History & Planning Winger, Ch. 4
4 Cash Management Winger, Ch. 5

Mar 9 Credit Winger, Ch. 6 VIDEO:Credit Cards:Lvng w/P
11 Home & Auto Purchases Winger, Ch. 7 & 8 Assign. Pkg. "B" DUE

Mar 15-19 SPRING BREAK

Mar 23 Exam III
25 Investment Basics Winger, Ch. 9-10

Mar 30 Investment Options Winger, Ch. 11-12
Apr 1 Property & Liability Ins Winger, Ch. 13 Guest

Apr 6 Health & Disability Ins Winger, Ch. 14
8 Life Insurance Winger, Ch. 15 Guest

Apr 13 Exam IV
15 Retirement/Estate Planning Winger, Ch. 16 Guest

Apr 20 Children & Money
22 Environmental Resources

Apr 27 Habits for Success Assign.Pkg."C"DUE
29 Comprehensive Final Exam

Class Assignments:
Assignments Package "A":
1. Values Clarification Worksheet 20 points
2. Lifetime Goals Worksheet 20 points
3. Decision Making Worksheet 20 points
4. Personal & Family Mission Statements 20 points
5. Time Organization Worksheet 20 points

Assignments Package "B":
6. Projected Budget 20 points
7. Balance Sheet 20 points
8. Income Statement 20 points
9. Credit Card Evaluation 20 points
10. Credit Report Request 20 points

Assignments Package "C":
11. Twelve Week Spending Record 20 points
12. Financial Goals 20 points
13. Investment Plan 20 points
14. Master Budget Worksheet 20 points
15. Three Month Income and Expense Plan 20 points

Exams:
Exam I 100 points
Exam II 100 points
Exam III 100 points
Exam IV 100 points
Final Exam 100 points

Total Points Possible: 800 points

Grading Criteria:
A letter grade will be assigned on the percent of points earned:
94 - 100% = A 74 - 76% = C
90 - 93% = A- 70 - 73% = C-
87 - 89% = B+ 67 - 69% = D+
84 - 86% = B 64 - 66% = D
80 - 83% = B- 60 - 63% = D-
77 - 79% = C+ 59 or below = E

NOTE: A 10% penalty will be assessed on all late work. Work more than one week late will not be accepted and a zero score assigned.

SPECIAL NEEDS STUDENTS: After contacting Services for Students with Disabilities, please identify yourself with the instructor by week two. "Any student requiring accommodations or services due to a disability must contact Services for Students with Disabilities (SSD) in room 181 of the Student Service Center. SSD can also arrange to provide course materials (including this syllabus) in alternative formats if necessary."

EXTRA CREDIT: Extra credit is available. See the handout "Class Assignments".

CHFAM 2100 "FAMILY RESOURCE MANAGEMENT" CLASS ASSIGNMENTS

Package "A" Assignments:
Turn the following assignments in together at the end of Week 5. (See the syllabus for the due date.)
1. VALUES CLARIFICATION WORKSHEET
Complete the value clarifications strategies found in Resource Materials for ChFam 2100 .

2. LIFETIME GOALS WORKSHEET
Using Alan Lakein's goal identification strategies, write your lifetime goals by completing the lifetime goals worksheet found in Resource Materials for ChFam 2100.

3. DECISION MAKING STEPS WORKSHEET
View the video, "Make Up Your Mind: Skillful Decisions" and complete the worksheet found in Resource Materials for ChFam 2100 by following a six step guideline with a decision you must make.

4. PERSONAL AND FAMILY MISSION STATEMENTS
a.Write a personal mission statement demonstrating the values or principles most important to you and defining what you want to be (character) and what you want to do (achieve).
b.Write a family mission statement demonstrating the values or principles most important to the family membership. Include what a family should be, what a family should do, roles of individuals, and goals of families as units.

5. TIME ORGANIZATION WORKSHEET
Using Covey's "fourth generation" time management tool, found in Resource Materials for ChFam 2100 (and in 7 Habits, p. 166-167) plan an upcoming week, filling in Roles, This Week's Goals, and a time schedule.

Package "B" Assignments:
Turn the following assignments in together at the end of Week 10. (See the syllabus for the due date.)
6. PROJECTED BUDGET
a. Define "budget."
b.Prepare a budget for the upcoming month that reflects your goals and spending habits. Include only the categories that apply to you. (See Resource Materials for ChFam 2100 for sample categories. You may also go online to Household Budget Management: dacomp.hypermart.net. Choose "What is a Household Budget" then scroll down and choose "A Sample Budget.")

7. BALANCE SHEET
a. Define the following terms:
(1) balance sheet,(2) current liability, (3) lifestyle assets,

(4) liquid asset, (5)investment asset,(6) noncurrent liability, (7)net worth.

8. INCOME STATEMENT
a. Define the following terms:
(1) income statement, (2) income, (3) expenses, (4) inflexible expenses, (5) sunk costs, (6) flexible expenses, (7) contribution to savings.
b. Prepare an income statement reflecting your income and expenses for the past 12 months.
Estimate amounts you do not have records for, remembering that greater accuracy gives greater value to the instrument. (See Winger & Frasca, pp. 49-50 for a sample income statement.)

9. CREDIT CARD COMPARISON.
a. Identify the kind of credit user you are.
b. Establish the criteria for the credit card most useful to you.
c.Show comparisons for at least four credit card company offerings and identify a credit card that meets your criteria. Defend your choice. (See Bank Rate Monitor: www.bankrate.com.)
d. How many credit cards do you have? How many do you need? Defend your answer.

10. INDIVIDUAL CREDIT REPORT.
Request a copy of your own Credit Report. (You can order online from TransUnion, Experian, or Equifax. There is a fee. For a FREE COPY write to the address below.
NOTE: You are NOT required to turn in your credit report. Turn in verification of your request.
To request a FREE copy of your credit report write to:

Experian
P.O. Box 2002
Allen, TX 75013

In your request include:
a) Full name
b) Current mailing address
c) Your addresses for the last 5 years
d) Proof of your current address
(examples include copies of bills sent to you at this address; photocopy of driver's license showing this address; insurance statement sent to this address)
e) Date of birth
f) Social Security #
g) Spouse's name and social security number

Allow 8 - 10 business days for delivery.

Package "C" Assignment:
Turn the following assignments in at the end of Week 14. (See the syllabus for the due date.)
11. SPENDING RECORD.
Keep an accurate record of your spending for twelve weeks. Include all amounts spent. Report spending on a weekly ledger showing the date, categories and totals for the week. A notebook listing of categories that apply to you meets this requirement. A commercially prepared ledger may be useful, but is not necessary.

12. LIST YOUR FINANCIAL GOALS.

Identify those goals you want to be able to accomplish that require financial resources. (You may want to reference your Lifetime Goals worksheet.)

14. MASTER BUDGET WORKSHEET.
Prepare a Master Budget Worksheet for the upcoming year using the format on
pp. 59-60 in the text (Winger & Frasca). Include an investments category.

15. REVISED BUDGET.
Prepare a Monthly Income and Expense Plan for each of the upcoming 3 months. Use the format on p. 61 of the text (Winger & Frasca). Show income, expenses, and contribution to savings. Use figures from your personal spending record to make a useful estimate of figures for each category of your revised budget. Include an investments category.

LATE WORK will be assessed a 10% penalty. Work more than one week late will not be accepted.

CHFAM 2100
EXTRA CREDIT GUIDELINES

A one-time extra credit project for 20 points will be accepted. Suggested projects include:

a. A list of valuables owned with photos and identification numbers suitable for an insurance company claim in case of loss.

b. A video tape of valuables owned with an audio identification of brand name, model numbers, serial numbers, value, etc., suitable for an insurance claim in case of loss.

c. A 3 to 5 page typewritten report on the purchase of a consumer durable. Include product research information and sources. Include prices, warranties, service options, etc. from at least three different sellers.

d. Comparison shop an insurance policy. It can be auto or life or home coverage. Prepare a 3 to 5 page typewritten report that includes product research information and sources . Include prices and coverage options from at least three different companies.

e. Other approved project.

Extra crediit projects are due the last day of class.

EXAM REPLACEMENT OPTION