Code: 2.1.2 · Adults
Drawing a budget
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Knows what a budget is, how to create one and why it is beneficial to do so
- Kdigitalresiliencelarge-majority
Aware of reliable budgeting tools developed by impartial providers, including mobile apps and other digital budgeting tools and services
- Kresiliencedaily-lifelarge-majority
Understands why it is important to take into account the medium and longer-term perspectives when budgeting
Skill
What you can do at this level
- Sresiliencedaily-lifelarge-majority
Identifies “needs” and “wants” and prioritizes as necessary
- Sresiliencedaily-lifelarge-majority
Creates a regular budget to plan income, saving and expenditure, using appropriate tools if available
- Sdigitalresiliencedaily-lifelarge-majority
Regularly uses reliable budgeting tools, including mobile apps or other digital tools, developed by impartial providers.
Attitude
What you can do at this level
- Aresiliencedaily-lifelarge-majority
Motivated to take time to create and follow a budget as a strategy for maintaining or increasing financial well-being
- Aresiliencedaily-lifelarge-majority
Motivated to consider the overall budget when making spending decisions
- Aresiliencedaily-lifelarge-majority
Motivated to look beyond immediate needs and wants when budgeting to prepare for longer-term requirements
- Aresiliencedaily-lifelarge-majority
Confident to adjust a budget if necessary
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.