Unit Award Scheme

demonstrated the ability to

1. identify at least three features of their own behaviour when engaging in money management

2. identify their own income and expenses and manage their financial commitments over the period of a week

shown knowledge of

3. two differences between essential and non-essential spending and at least two ways to balance needs and wants, including the way that personal choice influences this

4. two reasons why it is important to keep financial records and track their own spending

5. two different types of bank accounts that are available and what to consider when opening an account, eg fees

6. three examples of information that can be found on a bank card

7. the main characteristics of a bank statement and at least two reasons why it is important to check their statements regularly and keep their information safe

8. the price differences between at least two shops and at least two of their own shopping habits and preferences

9. two reasons why a simple budget can help to plan and control spending

10. two consequences of not paying their bills and at least two ways to manage debt.