View Unit : Managing personal finance

Unit

Unit Reference Number

F/501/6931

Qualification Framework

QCF

Title

Managing personal finance

Unit Level

Entry Level

Unit Sub Level

Entry 3

Guided Learning Hours

Unit Credit Value

Date of Withdrawal

SSAs

14.1 Foundations For Learning and Life, 14.2 Preparation for Work

Unit Grading Structure

Pass

Assessment Guidance

N/A

Learning Outcomes and Assessment Criteria

Learning Outcome - The learner will:		Assessment Criterion - The learner can:
1	Know the sources of income and expenditure	1.1	List sources of income
		1.2	List the ways in which money can be received
		1.3	Give examples of a range of expenditure
		1.4	List the ways in which payment can be made
2	Be aware of the need to balance income and expenditure	2.1	Use a method of recording income and expenditure
2	Be aware of the need to balance income and expenditure	2.2	Identify the problems which may occur if expenditure is greater than income
3	Know how to reduce expenditure	3.1	List ways of reducing expenditure
4	Know some of the products provided by banks and building societies	4.1	List products provided by banks and building societies
4		4.2	State one benefit of current accounts
5	Know the advantages and disadvantages of borrowing money	5.1	List the advantages of borrowing
5	Know the advantages and disadvantages of borrowing money	5.2	List the disadvantages of borrowing

Equivalent Units

There are no equivalences to display.