Unit 1: Financial Capability for the Immediate and Short Term This unit highlights the importance of financial capability in meeting immediate and short-term financial needs, introducing students to the financial services industry. Students will gain an understanding of cash flow through balancing income against expenditure. They will gain an appreciation of the differentiation of financial products for savings and the key features of interest and charges on borrowing. Unit 2: Financial Capability for the Medium and Long Term This unit highlights the importance of planning for the medium and long term with particular reference to the need to budget for future aspirations and life events. It introduces students to the features of risks and reward in managing personal finances. Students will understand the features of different types of financial services products and how to make informed choices about these products. They will also gain an understanding of the differentiation of financial products for investment and borrowing and the charges attached to them. Unit 3: Sustainability of an individual’s Finances This unit highlights the importance of financial sustainability for the individual. Students will understand the key external financial factors that influence financial performance and the impact that this has on them as a consumer. They will understand the importance of, and be able to, monitor budgets and adapt financial plans to meet changing circumstances in order to maintain financial sustainability and avoid long term debt. Unit 4: Sustainability of the Financial Services System This unit explores the financial services system and looks at how financial services providers work and compete with one another, their priorities and responses to external influences in maintaining financial sustainability.