Resource Management for Individuals

Resource Management for Individuals

and Families

FiFth Edition

Elizabeth Goldsmith Florida State University

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Library of Congress Cataloging-in-Publication Data

Goldsmith, Elizabeth B. Resource management for individuals and families / Elizabeth Goldsmith.—5th ed. p. cm. ISBN-13: 978-0-13-295514-0 ISBN-10: 0-13-295514-8 1. Life skills. 2. Lifestyles. 3. Resource allocation. 4. Stress management. 5. Time management. 6. Work and family. I. Title. HQ2037.G65 2013 646.7—dc23 2012021630

10 9 8 7 6 5 4 3 2 1

ISBN-10: 0-13-295514-8 ISBN-13: 978-0-13-295514-0




Theory and Management 52 • Application of Systems Theory to Households 54 • Human Ecology and Ecosystems 55

Economic Theory 57 Optimization and Satisficing 57 • Risk Aversion 60

Summary 61

Key Terms 61

Review Questions 62

References 62

For Further Reading 63

3 Values, Attitudes, Goals, and Motivation | 65 Main Topics 65

Values and Attitudes 68 Types of Values 71 • Values, Lifestyles, and Consumption 75 • Societal and Cultural Values 76 • Families, Values, Standards, and Households 77 • Value Chains 79 • Attitudes 80

Goals and Motivation 81 Goals Versus Habits 82 • Goal Attributes 82 • Types of Goals 83

• Goals and Performance, Creativity, and Learning 84 • Setting Goals 86 • Disengaging from Goals 90 • College Students’ Values, Goals, and Life Outcomes 92 • Motivation 95

Summary 97

Key Terms 97

Review Questions 98

References 98

4 Resources | 101 Main Topics 101

Resources Defined 104 Types of Resources 106 • Economics and Resources 108 • Resource Attributes and a Model 115 • Resource-Advantage Theory 116 • Other Resource

Preface vii About the Author xii

1 Management Today | 3 Main Topics 3

What Is Family Resource Management? 4 Introduction to Family and Household Trends 5 • Management as

a Process 9 • Successful Plans: Putting Management into Action 13 • Why Manage? 14 • Who Manages? 14 • Influences on Management Styles 15 • Interdisciplinary Foundation 17

Life Management for Individuals and Families 20 Managing the Second Half of Life 20 • Singles, Households, Nonfamily Households, and Families 22 • Changes in Family and Household Composition 26

What Lies Ahead? 28

Summary 28

Key Terms 28

Review Questions 29

References 29

2 Management History and Theories | 31 Main Topics 31

History of Management 33 The Early Years of Management 33 • Household Production/Consumption System I: Premodern (Early 1900s) 38 • Household Production/Consumption System II: Modern (1950s to 1990s) 40 • Household Production/Consumption System III: Postmodern (Early 21st Century) 40 • Four Eras of Management 42

Theory Overview 45 Functions of Theory 46 • Theories Ahead 46

Systems Theory 47 Open and Closed Families 47 • Subsystems and System Elements 48 • The Personal System 52 • Family Systems




iv contents

Allocation Factors: Utility and Accessibility 119 • Decision Making and Resources 119 • Knowledge, Education, and Health: Vital Resources 120 • Cultural Perceptions of Resources 120

Resources, Families, and Households 122 Consumption: China Using More Resources 123 • Strategy and the Conservation of Resources Theory 125

Summary 125

Key Terms 126

Review Questions 126

References 126

5 Decision Making and Problem Solving | 129 Main Topics 129

Decisions Defined and Explored 132 Decision Making as Part of Management 133 • Steps in Decision Making 135 • Self-Doubt, Self- Ambivalence, and Decision Making 137 • Models, Rules, and Utility 138 • Reference Groups 140 • Personal Decision Making 141

Family Decision Making, Including Division of Household Work 144

Consumer Decision Making in Families 149 • Getting Out of the House 151

Problem Solving 152 Definition, Analysis/Timing, and Plan of Action 153 • Uncertainty, Risk, and Success 156 • The GO Model: Visualization of a Problem- Solving Process 159

Summary 161

Key Terms 161

Review Questions 161

References 162

6 Planning, Implementing, and Evaluating | 165 Main Topics 165

What Is Planning? 169 The Planning Process and Task 170 • Need Fulfillment 171 • Time, Stress, and Planning 171 • Planning in Families and Other Groups 176 • Standard Setting 178 • Scheduling, Sequencing, and Multitasking 179 • Attributes of Plans 181 • Types of Plans 182

What Is Implementing? 185 Actuating 186 • Checking and Controlling 186

What Is Evaluating? 187

Summary 190

Key Terms 190

Review Questions 190

References 191

7 Communication | 193 Main Topics 193

Communication as Part of the Management Process 195 Channels, Noise, and Setting 197 • Sending and Receiving 199 • Listening 200 • Messages 202

• Channels and Feedback 205

Communication Conflicts 206 In Families 207 • Cultures and Subcultures 212

Communication in Small Groups 215 Group Discussions and Cohesion 215

Information and Communications Technology 216 Social Networks and Social Network Sites 216 • Information Overload and Habitual Decision Making 218 • The Internet and the Human Capacity to Process Information 219 • The Role of the Home and the Individual 220

Summary 221

Key Terms 222

Review Questions 222

References 223

8 Managing Human Needs | 225 Main Topics 225

Changes in Population 226 Population Terms and Trends 228 • Population Age and Composition 230 • Households and Families 232

The Nature of Change 232 Mobility 233 • Managing Change 233

Meeting Individual, Family, and Societal Needs 235 Two-Earner Families 235 • Child

Care 236 • Caregiving for Older Persons and the Elderly 239 • Adjusting to Retirement 243 • The Homeless 244 • Individuals with Disabilities 246 • Single-Parent, Remarriage, and Stepfamilies or Blended Families 248 • Poverty and Low-Income Families 251



contents v

Summary 253

Key Terms 253

Review Questions 253

References 254

9 Managing Time | 257 Main Topics 257

Time as a Resource 263 Discretionary Versus Nondiscretionary Time 264 • Children, Adolescents, and Time 265 • Adults and Time 265 • Modern Tools of Time Management 269 • The ABC Method of Time Control and Goals 270 • Time Perceptions 272 • Perceptions of Time across Cultures 274 • Biological Time Patterns 277

Quantitative and Qualitative Time Measures 277 Demands, Sequencing, and Standards 280

Summary 285

Key Terms 285

Review Questions 285

References 286

10 Managing Work and Family | 289 Main Topics 289

Introduction to Work and Family Research 291

Overview of Work and Family 292 Work and Family Conflicts 293 • Benefits of Work and Spillover to Families 295 • Resolving Work and Family Conflicts 296 • Social Support and Work and Family 299 • Family-Supportive Workplace Policies 300

The Meaning of Work and Leisure 303 Feeling Overworked 304 • Work Ethic 305 • Workaholism and Vacations 306 • The Three Ps: Procrastination, Parkinson’s Law, and Pareto’s Principle 308 • Workforce Trends 309 • Home- Based Work and Telecommuting 311 • Volunteer Work 314 • Leisure 314

Summary 316

Key Terms 317

Review Questions 317

References 317

11 Managing Stress and Fatigue | 321 Main Topics 321

Theoretical Frameworks 323

Stress Research 324 Crises and Adaptation to Stress 326 • Planning and Organizing 328 • Outsourcing 329 • Decision Making and Stress 332 • The Body’s Response to Stress 334 • Diet, Exercise, and Stress 335

Stress Management 336 Type A and Type B Personalities 337

• Techniques for Reducing Stress 338 • Job Stress 340 • Burnout 342 • Stress and Nonevents 344 • Parents, Children, Stress, Burnout 345 • College Students and Stress 347

Fatigue 350 The Body and Fatigue 351 • Systems Theory: Sleep, Energy, and Fatigue 351

Summary 356

Key Terms 357

Review Questions 357

References 358

12 Managing Environmental Resources | 361 Main Topics 361 • Sustainability 362

The Ecosystem and Environmentalism 366 Problem Recognition 368 • Biodegradability 369 • Biological Diversity 370 • Individual and Family Decision Making 370 • Incorporating Agriculture into Communities 371

Environmental Problems and Solutions 373

Water Quality and Availability 373 • Energy 376 • Noise 384 • Waste and Recycling 385 • Air Quality 387

Summary 390

Key Terms 390

Review Questions 390

References 391



vi contents

13 Managing Finances | 393 Main Topics 393

Financial Management and Security 397

Family Economics: Avoiding Economic Fallout, Building Toward the Future 398 The Business Cycle and Inflation 398 • Individuals and Families as Producers and Consumers 402

Income, Taxes, Net Worth, Budgets, and Saving 403

Managing Credit and Reducing Debt 408 • Banking, Investments, and Insurance 412 • Children, Expenses, and Financial Literacy 414 • Saving for College 416 • College Students, Starting Out 417

Retirement and Financial Planning 419 Financial Planning 423

Further Family Economic Issues 425 The Gender Gap, Earnings Gap, and the Glass Ceiling 425 • Wealth and Poverty 426

Summary 428

Key Terms 428

Review Questions 428

References 429

14 Managing Tomorrow | 431 Main Topics 431

Technology and Innovation 432 Visionary Leadership and Managerial Judgment 434 • Household Innovations 436 • Adopting Innovations and Applying Technology 439 • The 5S Management Concept 440 • Information and Innovation Overload 442

Family, Home, and Global Change 443

Quality of Life and Well-Being 445 • Multiculturalism 447 • Sustainability, Environment, and Consumption 447 • Health Care and the Food Supply 449

Summary 449

Key Terms 450

Review Questions 450

References 450

Glossary 453 indEx 459




Oh, how things have changed since the last

edition of Resource Management for Individuals

and Families. The latest census reveals that

Americans are within mere percentage points of

being a majority single nation. Only 51 percent of

adults today are married. Twenty-eight percent of

all households have just one person—the highest

level in U.S. history.

The economy worldwide continues to strug-

gle. Everywhere, families make sacrifices and

postpone expenses. More than ever before, people

want to know what actions to take and what goals

to pursue. The word “sustainability” has taken on

new meaning in people’s lives.

This fifth edition continues to pay close atten-

tion to meeting the standards and criteria for the

Certified Family Life Educator (CFLE) designation

of the National Council on Family Relations (NCFR).

My thanks are extended to NCFR for their recog-

nition of how important it is to know and apply

management principles. In this edition, there are

many more cases, photos, charts, solo and family

examples, and critical thinking exercises designed

to engage students in their search for insightful


I wrote this edition of Resource Management

for Individuals and Families to capture the nuances

of managing today. The study of resource man-

agement is relevant to an individual’s everyday life

and provides insight into how others behave.

When visiting with instructors and students in

Europe, Australia, Asia, Africa, Central and South

America, the United States, the Caribbean, and

Canada, it became clear that making informed

choices is a universal concern. Stress, fatigue, and

financial and time management problems have no

national boundaries.

Making choices—those made yesterday

and those to be made today and tomorrow—and

how those choices affect lives is a central theme

in the book. People can improve. This edition has

much more on the steps needed to achieve goals.

Happiness, social networks, and well-being are

explored in new ways.

Thanks are extended to all who took the

time to tell me how they are using the book from

Australia to Singapore. The latest census data and

world population statistics are included in this

edition along with the newest technologies impact-

ing households. An updated and extended Human

Development Index is included in the last chapter.

Individuals continue to search for the best

ways to balance work and personal life. In recogni-

tion of this, more coverage is devoted to how every-

one is responding to change in the world of work

as well as on the home front. You will find theories

and models such as value chains, Conservation

of Resources Theory, the Resource-Advantage

Theory, and the GO model in this edition. The GO

model is a goal-oriented problem-solving model.

In response to requests by instructors, the

finances chapter is extended to include more on

managing debt and on the value of diversification.

The stress and fatigue chapter has been expanded

with more on the importance of sleep and how

to improve its quality. Researchers are finding

more evidence of how sleep impacts our ability

to reason and function effectively. The chapter

on managing human resources is given the new

title of “Managing Human Needs” to better reflect

the content and to differentiate it from the way the

term “human resources” is often used to mean

personnel management in organizational settings.

My Fulbright awards to Malta and Trinidad

and Tobago allowed me the privilege of teach-

ing family resource management to students at

the University of Malta and the University of the

West Indies. Their insights coupled with those

of my students at Florida State University have

enriched this edition. The students, reviewers, and

instructors said time and time again that they did

not want the basic structure of the book (i.e., the

chapter flow from theory and history to applica-

tion to future challenges) changed, but that they

wanted expanded coverage on certain topics. The

most popular chapters with students are those on

time, stress, and fatigue management. Often this

book is referred to as the time management book

because how you spend your time is reflective of

everything else you manage and value in life. In

addition, students find the application-oriented

chapters on work and family, the environment, and

finances to be extremely useful.

Inclusion is a hallmark of each edition

of Resource Management for Individuals and

Families. I recognize the choices one makes in

personal life within the greater context of family,

friends, and the environment. The first edition of

this book set itself apart from others in its empha-

sis on the management problems faced by singles

and single parents as well as on those faced by

two-parent families. This approach is even more

relevant today as indicated in the opening para-

graph of this preface.

More students are graduating and return-

ing to live at home with their parents or with

siblings or establishing themselves in new places

in careers and living alone in apartments enjoying

friendships with other singles. In 1950, 1 percent

of Americans in their 20s lived alone; now it is

over 10 percent. Instructors like historical per-

spective and the historic homes section of this

book and references to the past are a way to give

perspective to what is currently happening. Every

effort is made to speak to a wide variety of stu-

dents, capturing their interests and taking into

account their concerns. More has been added on




viii preface

positive psychology, leadership, and success and on

the challenges of managing the second half of life

and the retirement years.

organization of this text Resource Management for Individuals and Families

contains 14 well-organized chapters divided into

four parts to introduce students to the best of man-

agement thinking and practice.

Part I begins with an explanation of manage-

ment as a process of using resources to achieve

goals and adds in quality aspects such as success

and happiness. It establishes the foundation and

introduces the management process model used

throughout the book.

Chapter 1 gives basic definitions and

addresses three questions:

• What is management?

• Why manage?

• Who manages?

Chapter 2 covers the interdisciplinary, histori-

cal, and theoretical foundations of the field.

The history of the home continues to fascinate,

and the public is interested in improving

home environments as evidenced by home

improvement shows and networks and supply

stores and websites devoted to homes. This

emphasis on home and environment as a

context within which individuals and families

operate sets this book apart from books that

focus strictly on family relations.

Part II examines the basic concepts underlying

the field of management. These concepts, such as

values, resources, and plans, are timeless and pro-

vide the foundation for the more application-oriented

chapters that follow.

Chapter 3 focuses on values, attitudes,

and goals with a special section on college

students’ values and goals.

Chapter 4 goes right to the heart of the subject

by exploring resources and resource strategy.

Conservation of Resources Theory is added to

this edition.

Chapter 5 provides the steps in decision

making and explains how to solve problems.

The effect of moods and the concept of self-

ambivalence have been added.

Chapter 6 analyzes planning, implementing,

and evaluating. This chapter helps the reader

visualize the steps necessary for success.

Chapter 7 explores communication, social

networks, and the feedback part of the

management process. Plans often fail because

they are not properly communicated.

Part III is about management applications and

each chapter begins with the verb “managing.”

This is a “how-to” section with many practical sug-

gestions. The text goes beyond merely stating the

problems and suggests possible solutions.

Chapter 8 explores population shifts and how

they impact management and resource use.

Chapter 9 shows ways to use time more


Chapter 10 discusses workaholism and the

problems associated with balancing work and


Chapter 11 explains what we know from

stress research and how to reduce fatigue.

Sleep and the vagaries of human energy are

also explored.

Chapter 12 brings up environmental problems

and provides solutions. Sustainability, water,

energy, noise, waste and recycling, and air

quality are all discussed.

Chapter 13 on managing finances, is one of

the most important chapters. Students are

setting up their credit and financial patterns

and establishing households. The chapter

explores how to make money stretch further in

a changing economy.

Part IV is about the future of management,

issues, and probabilities.

Chapter 14 concludes the text with an innova-

tive analysis of technology, quality of life, and

family and global change. This section brings

the book full circle—from the introductory

discussions of the history of the study of

management and the problems of contem-

porary families to the management issues on

the horizon.

distinctive Features Resource Management for Individuals and Families

offers a new, interactive approach to teaching

resource management through special features that

are specifically designed to reflect the themes of

choice and decision making, supporting students’

interest and learning. To engage the reader, many

chapters begin with a case or story from the news

about families.

• Management as a Process Approach

Throughout the book, a five-step model is used

to illustrate the thinking and action parts of the

management process. The model begins with

identifying problems, needs, wants, or goals,

then progresses to clarifying values and iden-

tifying resources. Next it moves on to deciding,

planning, and implementing, and ends with

accomplishing goals and evaluating. The

model takes place within an environmental

context and is held together by feedback.

• An Emphasis on Systems and Economic

Theories Rather than relying on only one

theory, this text applies many theories to

decision-making behavior. No particular area

of the field is overemphasized at the expense

of others.

This text is meant to be introductory yet inclusive.

• Pedagogy Current research and managerial

implications are presented in a readable and

interesting style. Examples and photos are

included to stimulate student interest.

• Each chapter begins with two Did You Know?

statements and an epigraph.

• Critical Thinking activities are woven into

each chapter that encourage students to react

to the material presented. They are asked to

agree or disagree and explain their reasoning.



preface ix

Critical thinking, essential for a thoughtful

life, adds a values-based or an evaluation


• Many chapters contain a feature, Suggested

Activities, with ideas for class or group dis-

cussion or for individual reflection, such as

recording sleeping patterns for three days

and comparing one’s sleeping pattern to the

content in the text. The Suggested Activities are

provided in response to instructors’ demand for

more ideas about how to apply the text to their

students’ lives. Professors have told me that

they use this feature to stimulate class discus-

sion or provide in-class activities.

Each chapter ending has the following study aids:

• Summary. A brief review of the major topics


• Key Terms. A list of important concepts dis-

cussed in each chapter. To help the reader

locate them, the key terms appear in boldface

type within the chapter text.

• Review Questions. A list of questions meant to

provide the basis for a review of textual mate-

rial and to encourage thought and discussion

on the chapter’s content.

• References. Full details of references cited in

the chapter. An additional list of relevant his-

toric and classic books appears at the end of

Chapter 2.

• The book concludes with a Glossary of the key

terms defined in the chapters and an Index.



x preface

Acknow ledgme


Resourc e Mana

gement for Ind

ividuals and Fa

milies w ould no

t have b een pos

sible wi th-

out the inspira

tion fro m colle

agues, instruc

tors, stu dents, a

nd my own gr

aduate experie


at Mich igan St

ate Un iversity

. Profes sors Ta

hira Hi ra of Io

wa Sta te Univ

ersity, S uzanne


Piscopo of the

Univers ity of M

alta, Ca rlisle Pe

mberto n of the

Univer sity of

the We st Indie


Rachel Pettigr

ew and Ruth B

erry of the Un

iversity of Ma

nitoba, France

s Lawre nce of

Louisia na Sta

te Univ ersity, a

nd Jing Xiao of

the Un iversity

of Rho de Isla

nd hav e added


the con cepts in

this bo ok as le

aders in financ

ial liter acy an

d resou rce

manag ement.

Sue M cGrego

r of Mo unt Sa

int Vinc ent Un

iversity in

Canad a provi

ded ins ight int

o the e volution

of the manag

ement process


model. Anita

Subram aniam

, forme rly of M

ontclai r State

Univer sity

and Pu rdue U

niversit y and n

ow in I ndia, a

dded h er stud

ents’ vi ews on


manag ement

. Shelb y Hun

t of Tex as Tech

Univer sity an

d I hav e had

wonde rful con

versatio ns abo

ut his R esourc

e-Adva ntage T

heory and

the wa ys it is

compa tible w

ith fam ily reso

urce th eory. S

herma n Han


of Ohi o State

Unive rsity pr

ovided update

s on ec onomic

theory and ri


Holly H unts of

Mont ana St

ate Un iversity

teache s probl

em-so lving

techniq ues wh

ich are origin

al to th e field.

Much of the

cross- cultura


and hi storica

l conte nt of t

he boo k was

influen ced by

my Fu lbright


and sa bbatica

ls in W ashing

ton DC and a

broad. I am

indebt ed to B


Monk man, c

urator emeri

tus of the Wh

ite Ho use, fo

r her g uidanc

e rega rding

techno logy a

t the W hite H

ouse in Chap

ter 1, a nd cur

ators o f the N

ationa l

Museu m of A

merica n Hist

ory at the S

mithso nian I

nstitut ion for

their c ritique


of the three s

ystem s of ho

usehol d prod

uction /consu

mption given

in Cha pter 2.


I am t hankfu

l for th e resea

rch su pport

from t he Visi

ting Fe llow P

rogram at

the H oover

Institu tion at

Stanf ord Un

iversity , the F

inanci al Ind

ustry Regula


Autho rity In

vestor Educa

tion F ounda

tion (F INRA

), the Smith

sonian Instit

ution Office


of Fell owship

s and Grant

s, Duk e Univ

ersity, and t

he He rbert H

oover Presid

ential Librar


Mem bers o

f the P earson

staff should

be re cogniz

ed for their

work and en

thusia sm. S


apprec iation

is exte nded t

o Sara Eilert

, Doug Greiv

e, and Vern

Antho ny, Ed

itor-in -Chie




preface xi

Especia lly note

worthy are the

review ers for

this edi tion: Pa

tti Fish er, Virg

inia Tec h

Univers ity; Jud

y Hans com, U

niversit y of M

aine–O rono; H

olly Hu nts, Mo

ntana S tate

Univers ity; Ire

ne Leec h, Virgi

nia Tec h Unive

rsity; S usan R

eichelt, Winthr

op Uni versity;


D e b o r a h S u l l i v a n , A s h l a n d U n i v e r s i t y ; P a t W h i t t i n

g t o n , O h i o S t a

t e U n i v e r s i t y ; a

n d

Baome i Zhao,

Univer sity of


Al so to b

e thank ed are

the rev iewers

for the fourth

edition : Judy

L. Han scom

of the Univer

sity of Maine

, Charl es B. H

ennon of Mia

mi Un iversity

, Mich ael N.


of And erson U

niversit y, and

Sally M . McCo

mbie o f India

na Un iversity

of Pen nsylvan


Review ers of t

he first edition

of the text w

ere Ma ria Can

abal, I llinois S

tate of Unive


(now a t Texas

State Univer

sity–S an Ma

cros); E lizabet

h Carr oll, Eas

t Caro lina Un

iversity ;

Lillian Cheno

with, T exas W

oman’s Unive

rsity; J anice H

ogan, U niversit

y of M inneso

ta; Rut h

H. Lyt ton, Vir

ginia P olytech

nic Ins titute a

nd Sta te Univ

ersity; Teresa

Mauld in, Uni


of Geo rgia; M

ary An n Payn

ter, De laware

State Univer

sity at Dover;

and A lice Pe

coraro ,

Nichol ls Stat

e Univ ersity. F

or keep ing the

mome ntum

going i n the s

econd edition

, specia l

thanks are ex

tended to Cel

ia Ray Hayh

oe, Virg inia Te

ch Un iversity

; Janic e L. H

eckroth ,

Indian a Stat

e Univ ersity

of Pen nsylva

nia; El len La

cey, B all Sta

te Uni versity

; and T erri

Walter s, Syra

cuse U niversi

ty. For the fr

esh ide as in t

he thir d editio

n, the followi

ng rep eat an


new re viewer

s are w armly

thank ed: Pa

t McC allister

(first e dition

and th ird edi

tion), E astern


Illinois Unive

rsity; J eanne

Hilton (secon

d and third e

dition) , Unive

rsity o f Nev

ada, R eno; L


Simps on, Ea

stern I llinois

Univer sity; M

ichelle Mead

ows, E astern

Illinoi s Univ

ersity; Edwa

rd Me l

Marko wski, E

ast Ca rolina

Univer sity; D

eana W eibel, C

aliforn ia Stat

e Univ ersity,

Lon g Beac


and W endy R

eibolt, Califo

rnia S tate U

niversi ty, Lon

g Beac h.

M y deep

appre ciation

goes t o my

family : my m

om, B etty A

melia Beard

, a bel iever

in the value o

f highe r educ

ation a nd sup

portive throu

ghout my ca

reer; m y husb

and, R onald


Goldsm ith, th

e Rich ard M

. Bake r Prof

essor o f Mar

keting at Flo

rida S tate U

niversi ty; an

d my

sons, D avid a

nd An drew,

who h ave gr

own fr om ch

ildren to you

ng me n in th

e cour se of t


edition s. I’m

please d to a

nnoun ce the

newe st add

ition t o my

family , my g

randso n Woo

drow, who

along with h

is olde r broth

er Orv ille an

d my daugh

ter-in -law J

essica , make

me a ppreci

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