Life Skills Development/Unit Four/Money Management

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Upon completion of this unit the learner will be able to:

  • Demonstrate an understanding of basic personal budgeting skills
  • Practise comparative shopping for basic needs especially nutrition needs
  • Formulate a personal budget based on current financial resources, as a tool for meeting basic needs and proper financial management

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  • Can I create a budget that will not constrict my personal spending?
  • How do I know when I am overspending?
  • Will I wait until I have a higher income to start budgeting?

Budget creation, no matter what your income level, is essential to prevent overspending and although it may limit your personal spending intially, however it will ensure that in the future you are equipped to spend money as the need arises or in case of emergency.

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