3803-03 E3 Qualification handbook v1 - City & Guilds

Unit 313 Managing own money
Notes for guidance
This unit can be used to support the learner’s understanding of the impact of paid work on their
benefits.
It is recommended that learners are taken for a better off calculation to gain an insight to their
current and future financial situation. This needs to have correct information about their benefits.
Outcome 1- Understand how to plan a personal budget.
Learners should identify their sources of income, if they are unsure of their income they should be
encouraged to find out the information from home. If there are difficulties in obtaining this
information then scenarios may be used to develop the concept of managing money and budgeting.
When learners are identifying items of expenditure they should also consider the cost of getting to
and from their place of work, buying their lunch etc. In creating a simple budget plan this can be
written by the assessor providing the learner has a clear understanding of what it required and has
provided the information.
Learners should be encouraged to research the different methods of saving money eg savings
account, money box etc.
Outcome 2- Know how to carry out transactions.
Learners should be provided with the opportunity to purchase items which are relevant to them eg
lunch at work, a newspaper for job searching, their bus ticket etc.
80 Entry Level 3 Certificate in Personal Progression through Employment (3803-03)