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UNIT 2: Topic 1 (1.5 Sources of help (Citizens advice is a registered…
UNIT 2: Topic 1
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1.1 Terminology
Money management - The process of managing money, which includes budgeting, banking, saving, making investments and tax
Budgeting - Part of general money management, making sure you can cover your costs.
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Personal objectives - What the individual wants to achieve, e.g going on holiday
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1.3 Financial planning
Identify objectives and needs, and how to plan to achieve
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1.2 Emergency Funds
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The best place to store an emergency fund would be in a building society or in an instant access savings account
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