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 budgetDownload 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: email@example.com