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Understand what is meant by income and expenditure.
. Identify items of personal income and expenditure.
. Describe how these may be affected by changing circumstances.
Be able to record income and expenditure for a personal budget.
. Record weekly and monthly income and expenditure in a clear format.
Understand the problems of coping on a limited budget.
. Identify the problems of living on a restricted budget.
. Describe the advantages and disadvantages of possessing credit, debit and charge cards.
Recognise different types of services that banks offer.
. Identify the differences between, and uses of:
(a) current accounts;
(b) savings accounts;
(c) mortgage loans;
(d) other types of loans.