Financial preparation for independence
Challenge reference: 7866
| Notional learning hours | 20 | ||
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| Level | Level 2 | ||
| Subject area | |||
| Preparing for Adulthood pathway | |||
| Skill | |||
| Learning aim | The learner will be able to understand personal finances and budget to live independently. |
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| Learning context | Please log in to see the rest of this challenge |
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Learning outcomes
What the learner needs to know, understand or be able to do
The learner will:
Be able to research and explain the costs involved in setting up home for the first time.
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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