Unit 2 CATs
• 2a Complete a personal budget planner using the template provided for a HE or work based route
• 2b Write an assignment that considers and evaluates the financial implications of continuing your education or starting a job or apprenticeship.
Purpose of session
• Enable students to accurately complete the Unit 2 budget planner (CAT 2a)
• How? Step by step guidance and instructions provided
• Why? The activity that most students get wrong
Purpose of Unit 2 – why it’s important?
• Gain a better understanding of student finance/finance in general
• Understand what you are entitled to
• Understand how to access/apply for funding
• Information can aid HE and career research and decision making/choosing the right path for you
• Develop your research/assignment writing skills
Budget planner CAT 2a
• The activity that most students get wrong – yet one of most important!
• Must know level of household income (but don't need to disclose this in assignments)
• Everything you need is in Unit 2 booklet, supported by online resources
Income from financial support (a)
• Page 12 and 13 of Unit 2 booklet
• Loans – max £5,740 (deferred and repayable)
• Grants – max £3,387 (non-repayable)
• For individual estimate of income, use online calculator
https://www.gov.uk/student-finance-calculator or ‘ready reckoner’ table, page 12/13
Income from part time employment (b)
• Majority of students have a part time job (some course exceptions) – see case study p.16
• Up to 15 hours per week maximum
• Minimum wage at 18 – £5.03
• Example: 10 hours per week = £50.30
Parental contribution(c)
• Have you discussed finance with your parents?
• If yes, can they contribute?
• If you haven't, have the conversation
Weekly expenditure (d)
• Use websites of 2 Universities of choice – search accommodation pages
• See Living Costs table on page 10 and Accommodation Table on page 11 of Unit 2 booklet as a guide to budgeting (but don’t just copy these figures)
• Make the figures specific to YOU, don't copy from your friend/Unit 3 booklet
Points to remember – budget planner
• Use online calculator/online resources – web links
• Use Unit 2 booklet
• Final figures should be accurate and specific to you, not generic – or made up!
• Complete all fields in budget planner – and make sure they add up
• Be realistic – if you are left with a balance/deficit of £200 a week, something is wrong!
Sources of information
• Budget Planner templates online
• Unit 2 booklet – esp. pages 10/11 and 12/13
• Online resources and links to: http://www.hud.ac.uk/scls/progressionmoduleresources/index.php
– Online calculator
– A Guide to completing CAT 2a (under Tutor Resources Tab)
Points to remember – assignment 2b
• Use the writing frames, p.7/8 Unit 2 booklet as a guide/headings
• Refer to budget planner 2a in assignment
• Use relevant websites and articles to inform your assignment (use online resources and links)
• Write at least 500 words and add a word count at end
• Don’t copy and paste info from the web – plagiarism
• Include a bibliography (at least 3 web sources – remember to bookmark your sources during research)