Family Resources

Elaine King

A model family is one that offers its members all they need to develop to the fullest. I is important to have different resources, and know how to balance them, so that they meet the needs of all members.

The assets of a family can be divided into human, social, intellectual, and financial; and none is more relevant than the other. The important thing is having a balance in which all these elements are considered significant, are managed, and grow with the effort of the family as a whole. Thus, it is equally important to save to achieve our financial goals, as to share enough time with each of our family members to ensure that their emotional needs are met.

Remember that the management of family resources is not the responsibility of just one of its members. Each family member should have responsibilities according to their age and possibilities. In this way, children will learn that they also should provide for the full development of the family.

Here are some tips that may be useful:

a) Share quality family time: talk about your problems and share what you want and expect for the future. Listen to children and let them know that their opinion is important and their needs are taken into account.
b) Assign responsibilities to each family member: discuss together the responsibilities that should be shared and select appropriate tasks to the ages and abilities of each of the family members. Find a way to monitor the fulfillment of responsibilities and establish a reward system so that the children will be motivated to comply.

c) Share finance-related issues with all family members: A family's financial situation is the responsibility of all members, according to their age. Each one plays an important role in the development of family finances. Children can learn a lot with simple activities and leading by example is the best way to teach them how to manage their finances during their adult life.

d) Share with your community: look for spaces and projects that allow you to help others. Choose a project in which you can participate as a family and decide how everyone can contribute. Remember that it is not about donating money, but getting really involved in a problematic situation. Choose an activity that you like and resonates with you, and teach the children to share.


Surely, you can develop many ways to involve the family in the management of its resources. Remember that communication is very important and that everyone’s participation is the key to keep a proper balance.

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Elaine King - Family and Money Matters™ 2021