The Prince’s Trust PERSONAL DEVELOPMENT AND EMPLOYABILITY QUALIFICATION MANAGING MONEY LEVEL 1 NAME SCHOOL 1 PLEASE LEAVE THIS TRACKING SHEET BLANK UNTIL YOU HAVE FINISHED THE BOOKLET. YOUR TEACHERS/ SUPPORT STAFF CAN HELP YOU TO FILL IT IN WHEN YOU RETURN TO SCHOOL. Tracking sheet – Managing Money The aim of this unit is to support learners to understand some of the basic principles around personal money management. Personal debt is a growing concern and learners are taken through some of the basic principles that they need to know when working out their take home pay and budgeting principles for a household income so that they develop an understanding of the value of money. Level 1 Learner name Centre name To do this you must… Page number Assessment date 1. Know about banking services 1.1 Give examples of financial services provided by banks or building societies 1.2 Describe the importance of having a bank/building society account 1.3 State the advantages of two different ways of borrowing money 2 1.4 State the disadvantages of two different ways of borrowing money 1.5 State the advantages of saving money 2. Know about deductions from earnings 2.1 Identify different types of deductions from earnings 2.2 State why these deductions are made 3. Understand the importance of own money management 3.1 Give examples of income and outgoings for a household 3.2 Give examples, with costs, of personal needs and wants 3.3 Outline the importance of personal budgeting 3.4 Give examples of organisations that provide help and advice on money management Assessor feedback Declaration I confirm that the details above are correct, that the evidence submitted is the learner’s own work and that the learner meets all the requirements for the unit: Learner Name Learner Signature Date signed 3 The Prince’s Trust Personal Development and Employability Qualification: Top Tips for Success  You can print this booklet and write/draw in it or do this on the computer.  Try to complete all the activities if you can. These will help you to gain a better understanding of the topic and will help you to answer the questions and complete the assessment tasks.  Assessment tasks will be labelled throughout the booklet and these MUST be completed.  Make sure that you have read a task/question carefully and are doing EXACTLY what it asks you to do. This is important because key words help us to measure how much you have understood, and to decide which level you are working at. For example, if you have “listed” when you were asked to “describe” then your work will not pass the final assessment. Your teachers can check this for you when you return to school.  Use your own words (unless you are specifically asked to search for information). We check that work is not copied from the Internet or books and your work will fail if you are found to have taken text from other sources. Copying others’ work is called “plagiarism” and this is taken very seriously.  If you do include research from the Internet, books or magazines, make sure that you say where you found the information. E.g. “Quote” – From (name of book/magazine) by (author’s name) OR “Quote” – From (website name) at (website address)  If you use photographs as evidence, make sure that you write a short annotation to explain what you are doing in the picture. 4  If you get stuck, you should have contact information for your school staff. If they aren’t sure of the answers, they can contact their executive at Prince’s Trust to ask for help. 1. Know about banking services. 1.1 Give examples of financial services provided by banks or building societies 1.2 Describe the importance of having a bank/building society account Activity 1 – What financial services do banks/building societies offer. Complete the spider diagram to show what different financial services banks have to offer. Use online research and people around you. Financial services that banks and building societies offer are… 5 Activity 2 – The importance of having a bank/building society account. Finish the sentence below. It is important to have a bank/building society account because… Activity 3 – Borrowing money. In the box below, write as many ways of borrowing money that you can think of. 6 1.3 State the advantages of two different ways of borrowing money 1.4 State the disadvantages of two different ways of borrowing money Activity 4 – The advantages and disadvantages of borrowing money. Using the list fr