Personal Money Management
Available from multiple providers
Earners of this badge have gained an understanding of how to budget effectively and know how to make good spending decisions, understand how and when to borrow money responsibly, understand savings and banking products - including their different risks.
Personal finance Bank statements Internet research Interest rates Analysis Hire purchase Training Money advice Budgeting Workshop ParticipateCriteria
This badge is only available to Students, Members or Employees.
Earner has developed a personal budget template. They have explored their sources of personal income and expenditure through a personal finance analysis of the past month to identify their earnings and any associated disposable income.
Earner has learned about different types of borrowing including credit cards, overdraft, hire purchase, home credit and informal borrowing, identifying the advantages and disadvantages of each through group discussion. This enabled them to identify the consequences of being in debt and the possible outcomes.
Earner has explored different methods of saving money with a bank or building society, Credit Union, and Post Office, through internet research to identify a preferred savings account.
Earner has used a template to explore reading bank statements and interest rates, equipping them with the ability to source the best bank account for their needs and understand standard bank forms and letters.
This badge is only available to Students, Members or Employees.
112-114 Donegall Street, Belfast, United Kingdom, BT1 2GX
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