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.
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