This resource helps teachers deliver the Financial Capability Unit Standard 24709 ‘Produce a balanced budget to manage personal finances’ (Level 1, 3 Credits). Students will learn about producing a balanced budget to manage personal finances. You will learn about a range of budgeting terms and the workbook will take you through various budget formats and the steps necessary to develop a written budget. The significance of goals and priorities for individuals when creating a budget are also outlined.
This resource is currently being updated ready for the start of term - broken links fixed and updated content. You can download now but please check you have the latest version before using it in the classroom.
Financial Capability 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.
Managing your Money: US 24709Download overview
Students taking part will
- Learn about ways to keep and monitor a budget
- Explain the difference between income and budget
- Understand and use budgeting terms
- Distinguish between fixed and variable payments
- Understand needs versus wants
- Work with budget formats
- Convert all income and expenses to weekly amounts
- Using online tools to prepare budgets
- Monitor a budget
- Practice tasks for producing a balanced budget
- Complete a practice assessment
For access to the detailed Teaching Guide and Student Assessment for this Unit Standard, please contact us via email at: firstname.lastname@example.org