This resource helps teachers deliver the Personal Financial Management Unit Standard 28094 ‘Produce a balanced budget and adjust the budget to reflect changing financial circumstances’ (Level 2, 3 credits). Students will learn about key concepts such as budgeting and financial goal setting, and complete an open-book assessment which may be awarded with Achieved, Merit or Excellence.
Through this unit, students will
- Learn about budgeting and its’ importance to financial goal setting
- Understand a range of key financial terms
- Learn how to set, maintain and update a budget
Personal Financial Management is a core generic domain on the New Zealand Qualifications Framework. This unit of work also has links to the Social Sciences and Mathematics and Statistics learning areas.
Balancing your budget: US 28094Download overview
Students taking part will
- Learn the benefits of keeping a budget
- Learn how to determine their current financial position
- Understand what fixed, variable and mixed expenses are
- Complete a practise assessment
- Complete an open-book assessment using a given scenario
For access to the Teaching Guide and Student Assessment for this Unit Standard, please contact us at: firstname.lastname@example.org
- Student Workbook
- Teaching guide: Using financial capability unit standards