Level 1 Personal Money Management (2010)
Please note that the last opportunity for assessment for this qualification is Summer 2021; after that, the qualification will be withdrawn. In 2020 and 2021 the assessment is available in Summer only.
The CCEA Level 1 Award in Personal Money Management aims to help prepare learners for the real world by promoting financial literacy.
This specification focuses on the effective management of personal finances and is particularly relevant for young people earning money for the first time, leaving home or planning for future financial needs.
Learners will develop knowledge and skills that will help them to manage their personal money and anticipate their future needs and wants, including:
- how to plan their finances;
- the need to regularly review the strategies they use to manage their money; and
- the differences between short, medium and long term planning and saving.
Taking this qualification will also help learners to understand the importance of shopping around when buying financial products and services.
There is one unit – Personal Money Management – and assessment is by portfolio only.
Skills developed through Personal Money Management
This specification builds upon the broad objectives of the Northern Ireland Curriculum. In particular, it enables learners to develop as individuals and contributors to the economy, society and environment by providing opportunities to explore topics such as Financial Capability. Learners will also develop a range of skills that will assist them in further study and increase their options for employment.