Intro to Personal Budgeting and Money Management E3

Learning Outcome –

The learner will:

Assessment Criterion –

The learner can:    

Understand what is meant by income and expenditure

1.1 Give examples of income
1.2 Give examples of expenditure

Be able to keep a personal record of personal income and expenditure

2.1 Use a given format to record weekly income and expenditure

Understand the problems of coping on a limited budget

3.1 State a minimum of 2 problems of coping on a limited budget
3.2 Identify large items of expenditure during the year

Understand the term ‘value for money’

4.1 Outline what is meant by ‘value for money’ using an example

Recognise the key information on a receipt or payslip

5.1 Identify key items recorded on a receipt or payslip

Understand what saving means

6.1 State what saving means
6.2 Give two examples of saving schemes

Produce a budget plan

7.1 Produce a simple and realistic personal budget plan for the future
7.2 Demonstrate keeping an accurate record of
personal spending
7.3 Give an example of a credit or charge card