Financial preparation for independence
Challenge reference: 7866
Active
Notional learning hours
20
Level
Level 2
Subject area
Preparing for Adulthood pathway
Vocational area
Skills
Learning aim
The learner will be able to understand personal finances and budget to live independently.
Learning context
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Learning outcomes
(What the learner needs to know, understand or be able to do)
The learner will:
-
1
. Be able to research and explain the costs involved in setting up home for the first time.
-
2
. Be able to research monthly expenses that may be incurred when living independently.
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Assessment criteria
(What the learner need to demonstrate in order to meet the learning outcome)
The learner can:
- Research items that they would need to purchase to set up home for the first time
- Compare the cost of these items from at least two different sources
- Research the price of rental properties in the area that they would like to live including the deposit that they would need
- Research expenses other than rent that will be incurred when living independently e.g. energy bills
- Work with others to develop a questionnaire to carry out research into how much these expenses are likely to cost
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Assessment methodology
Assessment methodology
Linked to learning outcome
Labelled product, video or photographic evidence
1
2
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