The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Analyse and discuss budgeting as a financial tool
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The role of budgeting in the lives of different groups is discussed Completed |
Evidence:
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The importance of budgeting appropriately to meet expenses is analysed and discussed and related to different stages of life Completed |
Evidence:
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The importance of setting financial goals is analysed and discussed in consultation with others Completed |
Evidence:
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Obstacles that might prevent financial goals being achieved are analysed and discussed Completed |
Evidence:
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The types of behaviours and skills required for successful budgeting are explored and analysed Completed |
Evidence:
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Prepare to develop a personal budget
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All income and expenses for a short period of time are recorded to assist in estimating expenditure requirements Completed |
Evidence:
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A spreadsheet for recording all budget information is obtained or developed and established to record income and expenditure for a relevant period of time Completed |
Evidence:
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All sources of income for the specified period are identified and listed using the budget spreadsheet Completed |
Evidence:
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All regular and fixed expenses for the specified period are identified and listed using the budget spreadsheet Completed |
Evidence:
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All variable expenses for the specified period are identified and listed using the budget spreadsheet Completed |
Evidence:
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Develop a personal budget
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Total expenses recorded are subtracted from the total income to determine a surplus or deficit budget for the specified period Completed |
Evidence:
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Reasons for a deficit budget are explored and ways to reduce expenses or increase income are investigated Completed |
Evidence:
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Allocation of surplus funds towards saving and meeting identified financial goals is explored Completed |
Evidence:
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Implement and monitor the personal budget
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The budget is followed according to plan for a period of time Completed |
Evidence:
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Actual expenses and income for the period during which the budget is implemented are recorded and compared to budgeted expenses and income Completed |
Evidence:
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Any differences in budgeted and actual amounts are looked at and the budget modified where necessary Completed |
Evidence:
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Handy hints for managing the personal budget are discussed Completed |
Evidence:
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Ongoing review of the budget is conducted to ensure it remains relevant and to ensure updates are incorporated if necessary Completed |
Evidence:
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