Unit of Account is where a monetary value is placed on an item/service.
How would a persons financial needs change throughout their life?
Childhood - limited. Adolescence - indepdendence. Younf adult - house, car, career. Middle age - family support, saving for children, lifestyle. Old age - downs
Give 2 examples of external influences on finances
Changing interest rates Inflation Government action e.g. Brexit Taxation
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