Unit Award Scheme

73371 BUDGETING AND DEBT MANAGEMENT

In successfully completing this unit, the Learner will have		Evidence needed
shown knowledge of
1	the meaning of the terms 'personal budgeting', 'priority and non priority debt' and 'fixed and variable expenditure'	Tutor/trainer itemised checklist
2	at least two reasons why personal budgeting is important	Tutor/trainer itemised checklist
3	at least two reasons why a savings plan should be incorporated into a personal budget	Tutor/trainer itemised checklist
4	at least three different forms of income	Tutor/trainer itemised checklist
demonstrated the ability to
5	use a given case study to create a personal budget of expenditure	Student produced personal budget
6	identify at least two differences between a fixed and variable expense	Tutor/trainer itemised checklist
7	identify at least two ways of keeping financial records	Tutor/trainer itemised checklist
8	identify two ways to reduce expenditure and/or maximise income	Tutor/trainer itemised checklist
9	identify one source of financial help for personal budgeting, eg credit union.	Tutor/trainer checklist

All outcomes recorded on an AQA Summary Sheet

Approved 11 March 2013Level - Entry Level