Unit Award Scheme

demonstrated the ability to

1. identify at least three types of credit to maximise income

2. identify at least two ways of keeping financial records

3. use skills acquired to produce and use a spending diary

4. order different types of credit for a product from cheapest to most expensive

shown knowledge of

5. the meaning of the terms 'personal budgeting', 'priority and non priority debt'

6. how to create a personal money plan

7. what a spending diary is and how to create one

8. the meaning of the terms credit and debt

9. at least one advantage and one disadvantage of debt

10. at least two pros and two cons of using credit

11. the name and brief description of at least two different types of saving accounts

12. at least three types of priority and non-priority debts

13. the meaning of the terms APR and interest

14. two ways in which credit can impact our lives and relationships

experienced

15. taking part in a discussion about money management

16. planning a conversation with friends or family about money management.