Manage Resources

1.1 Review the personal resources available to them to realise their needs and wants and analyse the extent to which realising their needs and wants may impact on individuals and society
1.2 Identify and classify sources of income and expenditure, compare options available to best manage financial resources, evaluating the risks associated with each option and making informed and responsible judgement
1.3 Construct a personal financial life-cycle to identify financial needs at different life stages
1.4 Explain key personal taxes and charges and suggest the occasions when and why they might arise
1.5 Identify reasons for saving and borrowing money, relate the reasons to determining appropriate sources of finance with respect to their purpose, costs and risks
​1.6 Identify appropriate types of insurance for particular personal needs and consider costs, benefits and risks