Unit Title: Personal Budgeting And Managing Money - Laser Awards Area... · 2019-11-20 · Laser Awards Leap Qualifications. Personal Budgeting And Managing Money Unit E3 assessment

Laser Awards Leap Qualifications. Personal Budgeting And Managing Money Unit E3 assessment

Unit Title: Personal Budgeting And Managing Money

Unit Level: Entry 3

Unit Credit Value: 3

GLH: 30 Name…………………………………….

LASER Unit code: WJC688

Ofqual Unit Code: R/506/0786

This unit has 6 learning outcomes.

PJL 1.

ACHIEVED

DATE

PAGE TUTOR

INITIALS

LEARNING OUTCOMES

ASSESSMENT CRITERIA

1

Understand what is

meant by income

and expenditure.

1.1

Give examples of

income

1.2

Give examples of

expenditure

2

Understand ways to

deal with a living on

a limited.

2.1

Identify possible

difficulties of coping on

a limited budget.

2.2

Give an example of

how to cope on a

limited budget.

3

Know how to

undertake financial

transactions.

3.1

Give examples of finan-

cial transactions and

where they might take

place.

3.2

In a given situation, in-

dicate how to make a

specific financial

transaction.


NAME…………………………………………………………………………………………….

PJL 2.

Assessment Guidance:

NA

Additional Information:

NA

4

Understand

key financial

information on

everyday

documents.

4.1

Identify key items on

a receipt.

4.2 Identify key items on

a payslip

5

Understand

what saving

means.

5.1 State what savings

means.

5.2 Give examples of

different ways of

saving.

ACHIEVED

DATE

PAGE TUTOR

INITIALS

6 Know how to

produce a

simple budget

plan.

6.1

Outline personal

spending and

income over a given

time period.


Name…………………………………………………………………….………………

1.1. Give examples of income.

Discuss with the group what income ‘means’. Write down in your words what income

means.

Income means……………………………………………………………………………………

……………………………………………………………………………………………………..

……………………………………………………………………………………………………..

Give some examples of income.

1.2 Discuss with the group what ‘expenditure’ means. Write down in your words what

expenditure means.

Expenditure means………………………………………………………………………………..

……………………………………………………………………………………………………….

………………………………………………………………………………………………………

Give some examples of expenditure.

PJL 3.


Name…………………………………………………………………………………..

2.1 Identify possible difficulties of coping on a limited budget.

Some people/families have to live on a low income. What difficulties may they have in

budgeting their money?

PJL 4.

Teacher feedback:

Teacher signature and date:

Teacher feedback:



Name……………………………………………………………………………………..

2.2 Give an example of how to cope with one difficulty of coping on a limited budget.

People living on a low income tend to have difficulties in paying out on bills. One bill which

they have a problem with is the ‘food’ bill. How could people cut down on the cost of their

food bills? Discuss this with the group and then write your answers below.

PJL 5.

Teacher feedback:



Name……………………………………………………………………………………...

3.1 Give examples of financial transactions and where they might take place.

Give some examples of when you may pay out for something or get money from and

where it might take place. First one is an example.

PJL 6.

Teacher feedback:


FINANCIAL TRANSACTION WHERE IT MAY TAKE PLACE

Paying for tickets to go and see a film At the local cinema


Name…………………………………………………………………..…………

3.2 In a given situation, indicate how to make a specific financial transaction.

You have been looking on Ebay and have seen something that you want to buy.

Describe the process of paying for it.

……………………………………………………………………………………….

……………………………………………………………………………………….

……………………………………………………………………………………….

……………………………………………………………………………………….

You are going to catch a bus to your friends house. Describe the process of paying for

your journey.

…………………………………………………………………………….

…………………………………………………………………………….

…………………………………………………………………………….

…………………………………………………………………………….

Over the last two days, think of what you have exchanged money for. Complete the

table below.

PJL 7.

DAY

PAID OUT FOR

WHERE IT TOOK PLACE


Name…………………………………………………………………………………………….

4.1 Identify key items on a receipt.

Look at the till receipt. Can you name these key items.

PJL 8.

Teacher feedback:


Teacher feedback:



Name………………………………………………………………………………………………

4.2 Identify key items on a payslip.

Here is an example of a payslip. Can you name the key items?

Have you ever received a payslip for work that you have done ?

Yes No

PJL 9.

Teacher feedback:



Name………………………………………………………………………………………….

5.1 State what ‘saving’ means.

Write down what ‘saving’ means.

……………………………………………………………………………………………………….

……………………………………………………………………………………………………….

……………………………………………………………………………………………………….

5.2 Give examples of different ways of saving.

List as many different ways of saving that you can think of.

PJL

10.

PJL 10.

Teacher feedback and witness statement:



Name…………………………………………………………………………………………………

6.1 Outline personal spending and income over a given time period.

Produce a budget plan on the computer showing your income and expenses over a period

of one week.

Print it off and attach it to these sheets.

PJL 11.

Teacher feedback :



Name……………………………………………………………………………………………..

PJL 12.

Student feedback on completion of the unit:

Student signature and date………………………..……………………………

Teacher feedback on completion of the unit:

Teacher signature and date…………………………………………………...

Documents

Unit Title: Personal Budgeting And Managing Money - Laser Awards Area... · 2019-11-20 · Laser Awards Leap Qualifications. Personal Budgeting And Managing Money Unit E3 assessment