Unit Award Scheme

73957 EXPLORING 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'	Student completed work or summary sheet
2	at least two reasons why personal budgeting is important	Student completed work or summary sheet
3	at least two reasons why a savings plan should be incorporated into a personal budget	Student completed work or summary sheet
demonstrated the ability to
4	use a given case study to create a personal budget of expenditure	Student completed work or summary sheet
5	identify at least two ways of keeping financial records	Student completed work or summary sheet
6	identify two ways to reduce expenditure and/or maximise income	Student completed work or summary sheet
7	identify at least two differences between a fixed and a variable expense	Student completed work or summary sheet
8	convert quarterly or monthly repayment figures from a given utility bill into weekly repayments	Student completed work or summary sheet
9	identify one priority and one non priority debt	Student completed work or summary sheet
10	identify one consequence of non-payment of a priority debt and one consequence of non-payment of a non-priority debt	Student completed work or summary sheet
11	identify one source of financial help for personal budgeting, eg credit union	Student completed work or summary sheet
experienced
12	participating in a discussion about budgeting and debt management.	Summary sheet

All outcomes recorded on an AQA Summary Sheet

Approved 14 December 2015Level - Level Two