Unit Award Scheme

112071 MANAGING MONEY (UNIT 1): BASIC BUDGETING, RECORDS, BANKS

In successfully completing this unit, the Learner will have		Evidence needed
demonstrated the ability to
1	identify at least three features of own behaviour around money management	Student completed work
2	identify own income and expenses and look at managing financial commitments over a period of a week	Student completed work
shown knowledge of
3	two differences between essential and non-essential spending, balancing needs and wants and how personal choice influences this	Student completed work
4	two reasons why it is important to keep financial records and track own spending	Student completed work
5	two different types of bank accounts available and what to consider when opening an account, including fees	Student completed work
6	three examples of information found on a bankcard	Student completed work
7	how to read bank statements and why it is important to check statements regularly and keep information safe	Summary sheet
8	price differences between shops and awareness of own shopping habits and preferences	Summary sheet
9	two reasons why a simple budget can help plan and control spending	Student completed work
10	two consequences of not paying bills and how to start to manage debt.	Student completed work

All outcomes recorded on an AQA Summary Sheet

Approved 17 June 2019Level - Level One