Personal budgeting
Challenge reference: 5949
| Notional learning hours | 10 | ||
|---|---|---|---|
| Level | Entry 3 | ||
| Subject area | |||
| Preparing for Adulthood pathway | |||
| Skill | |||
| Learning aim | The learner will recognise the differences between essential and non-essential spending and understand about personal budgets. |
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| Learning context | Please log in to see the rest of this challenge |
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Learning outcomes
What the learner needs to know, understand or be able to do
The learner will:
Know about the difference between essential and non-essential spending.
Know about personal budgets.
Assessment criteria
What the learner need to demonstrate in order to meet the learning outcome
The learner can:
- State the difference between essential and non-essential spending
- Give examples of essential and non-essential purchases
- Outline how much they spend on essential versus non-essential items
- Give a least two examples of how to prioritise spending within a budget
- Outline a personal budget for a given period of time
- Give examples of how a personal budget may change over a lifetime