Swenson_Family_Reflection_2.5.3.A3 (1).pdf - Page | 28...

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Unformatted text preview: Page | 28 2.5.3.A3 Swenson Family Reflection 20 Total Points Earned Total Points Possible Percentage Name semaj byers Date Class Directions: Read The Swenson Family scenario 2.5.3.E6 and Income and Expense Statement for the Swenson Family 2.5.3.E7 and answer the following questions. 1. The Swenson family’s spending plan is significantly different in September when Chloe’s father was employed compared to in January when he was still seeking new employment. Analyze the family’s spending choices (4 points): a. Even while unemployed, the family chose to keep all of their existing forms of insurance. Why do you believe they did this? so if something was to happen to anything or happen to them it would be covered b. The family had to decrease many of their expenses due to the father’s unemployment. Which decreased expense do you believe was the most difficult for the family to adjust to and why? i think that it was gasoline because without enough gas you cannot get to where you need to go 2. The Swenson family was fortunate that Chloe’s father worked in a job which allowed him to claim unemployment after he was laid off. Consider the following (8 points): a. If the family did not have the $1,863 in unemployment income, what additional changes would they have had to make to their income and expense statement? Identify what impact these changes would have had on the family. they would have changed to change allot more expenses because if they kept up there expense with money he had when he got laid off the would run low on money b. Although Chloe’s father received unemployment, he was actively seeking new employment. Why? because he was looking for new jobs and they had a farmhouse © Take Charge Today – August 2013 – Receiving from Government Programs Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Page | 29 2.5.3.A3 3. The Swenson family members have cut back on almost every household expense. Knowing this financial situation is temporary, they appear to be in good spirits. However, the children (Chloe, Dylan and Samantha) are in high school and capable of getting jobs. In the story, it appears only the mom is currently working. Here are some points to consider (8 points): a. Do you believe it should be the children’s responsibility to obtain jobs and help out in a financial crisis such as this one? Why or why not? yes because if the children is old enough to get a job and were running low on money i think that they should get a job because they could help b. The children may be especially concerned about having to give away or sell two of the horses because of the cost of feeding and veterinary bills. What are the pros and cons to keeping the horses? If the family wants to keep the horses, what could they do? the horses could help the get money and save money but the horses could also make them loose money to allot of money because of the vet bills and to keep them up © Take Charge Today – August 2013 – Receiving from Government Programs Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona ...
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