Develop and use a personal budget

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSFLT201A, 'Develop and use a personal budget'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Develop and use a personal budget' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria



1. Analyse and discuss budgeting as a financial tool

1.1. The role of budgeting in the lives of different groups and the importance of budgeting appropriately to meet expenses is analysed and discussed and related to different stages of life

1.2. The importance of setting financial goals is analysed and discussed

1.3. Obstacles that might prevent financial goals being achieved are analysed and discussed with the types of behaviours and skills required for successful budgeting explored and analysed

2. Develop a personal budget

2.1. All income and expenses for a six month period are recorded to assist in estimating expenditure requirements

2.2. A spreadsheet for recording all budget information is obtained or developed and established to record income and expenditure for a relevant period of time

2.3. All sources of income and regular fixed expenses and variable expenses for the specified period are identified and listed in a personal budget using the budget spreadsheet

3. Develop a personal budget

3.1. Total expenses recorded are subtracted from the total income to determine a surplus or deficit budget for the specified period

3.2. Reasons for a deficit budget are explored if relevant and ways to reduce expenses or increase income are investigated

3.3. Allocation of surplus funds towards saving and meeting identified financial goals is explored

4. Implement and monitor the personal budget

4.1. The budget is followed according to plan for a period of time

4.2. Actual expenses and income for the period during which the budget is implemented are recorded and compared to budgeted expenses and income with any differences in budgeted and actual amounts looked at and the budget modified where necessary

4.3. Handy hints for managing the personal budget are discussed

4.4. Ongoing review of the budget is conducted to ensure it remains relevant and to ensure updates are incorporated if necessary

Qualifications and Skillsets

FNSFLT201A appears in the following qualifications:

  • FNS10110 - Certificate I in Financial Services
  • FNS20110 - Certificate II in Financial Services