Financial Literacy

What should I have already achieved?

By the time students begin Level 3 Financial Literacy, they should already have a solid foundation in managing everyday money decisions. This includes being able to make a simple budget, track spending, and understand the difference between needs and wants. They are expected to have basic awareness of common financial products such as bank accounts, debit cards, and how simple interest works. Students should also recognise that financial choices have consequences and know where to seek reliable advice. Additional skills like using spreadsheets or having early knowledge of credit and income are helpful, but not essential.

What will I learn?

• US28098 – Evaluate Options to Increase Personal Income
  Learn to explore and compare different ways to increase income, such as career pathways, further training, side incomes, and employment choices.

• US28099 – Analyse Credit Options and Manage Debt
  Understand different credit options, compare interest rates and terms, and develop strategies to minimise debt and manage borrowing responsibly.

• US28103 – Personal Financing for Purchasing a Property
  Learn how to analyse mortgage options, deposits, interest rates, and affordability when planning to buy your first home.

• US28104 – External Factors and Personal Finances
  Examine how external risks such as inflation, interest rate changes, economic conditions, and life events can affect personal finances.

• US28100 – Long-Term Financial Planning
  Develop a long-term financial plan and budget to achieve personal goals, including saving, investing, and planning for future needs.