Budgeting

Overview

Framework:
RQF
Level:
Entry Level 3
Unit No:
K/504/7493
Credits:
1
Guided learning hours:
10 hours

Assessment Guidance

N/A

Unit Learning Outcomes

1

Know about the difference between essential and non-essential spending.

Assessment Criteria

  • 1.1

    State the difference between essential and non-essential spending.

  • 1.2

    Give examples of essential and non-essential purchases.

  • 1.3

    Outline how much they spend on essential versus non-essential items.

  • 1.4

    Give examples of how to prioritise spending within a budget.

2

Know about personal budgets.

Assessment Criteria

  • 2.1

    Outline a personal budget for a given period of time.

  • 2.2

    Give examples of how a personal budget may change over a lifetime.