Name of school: St Columba’s High School
Centre Number: 100332
Name of learner: Xaba Mehluli
Candidate Number: 3144
Level: O’Level
Project Title: The Importance of Budgeting Amongst Young Entrepreneurs
Learning Area: Business Enterprise Skills
Syllabus topic: Financial Management
Syllabus sub-topic: Budgeting and Planning
Project Objectives
1. Identify budgeting challenges faced by young entrepreneurs
2. Investigate local budgeting habits and tools used in Cowdray Park
3. Analyse the strengths and weaknesses of each budgeting method
4. Develop original budgeting solutions based on youth needs
5. Test each solution through observation or feedback
6. Select the most effective solution for refinement
7. Prepare a final presentation with visuals and rollout strategy
8. Evaluate the impact and recommend improvements
Project Description
This project focuses on helping young entrepreneurs in Cowdray Park
improve their budgeting practices. I explored local habits, developed original
tools, and refined the Budgeting Wall Chart to promote financial discipline
and business sustainability. The final solution is affordable, easy to use, and
ready for rollout.
Project Execution Plan: The project was carried out by identifying budgeting
challenges in Cowdray Park, researching local habits, developing and testing
three solutions, and refining the Budgeting Wall Chart. The final design was
made print-ready, placed in high-traffic youth vendor areas, and supported
by a weekly tracking system. It’s affordable, practical, and ready for rollout.
Stage 1: Problem Identification
1.1 Description of the Problem
Young entrepreneurs in Cowdray Park struggle with financial planning,
leading to poor spending decisions, low savings, and unsustainable business
practices.
1.2 Statement of Intent
To explore how budgeting can empower young entrepreneurs by improving
financial discipline, guiding spending, and supporting long-term business
growth.
1.3 Design Specifications
- Focus on low-cost budgeting tools
- Must be accessible to youth with limited resources
- Should include visual and written formats
- Must be measurable in terms of financial improvement
Stage 2: Investigation of Related Ideas
2.1 Evidence of Related Ideas – Cowdray Park Context
Idea 1: Verbal Budgeting & Mental Tracking
Many youth vendors estimate their spending and profits mentally without
written records.
Example: A local airtime seller tracks stock mentally but often forgets
purchases, leading to confusion and loss.
Idea 2: Informal Diaries & Notebooks
Some entrepreneurs use school notebooks to jot down expenses and income.
Example: A student running a sweets business records daily sales but
struggles to categorize costs.
Idea 3: Mobile Budgeting Apps
A few tech-savvy youth use apps like Expense Manager to track spending.
Example: One vendor uses an app to log purchases and profits, helping them
plan stock better.
2.2 Analysis of Ideas
Verbal Budgeting & Mental Tracking
- Merits
1. No cost involved
2. Quick and flexible
3. Easy for small transactions
- Demerits
1. Prone to errors and forgetfulness
2. No proof or record for review
3. Difficult to scale or analyse
Informal Diaries & Notebooks
- Merits
1. Low-cost and accessible
2. Can be customized
3. Encourages habit formation
- Demerits
1. Risk of damage or loss
2. No automatic calculations
3. May lack structure
Mobile Budgeting Apps
- Merits
1. Automated tracking and analysis
2. Easy to categorize expenses
3. Can generate reports
- Demerits
1. Requires smartphone and data
2. May be complex for beginners
3. Risk of app fatigue or disinterest
2.3 Overall Presentation Quality
Mental tracking, notebooks, and mobile apps were all observed in Cowdray
Park. Each method has strengths but also clear limitations for youth
entrepreneurs.
Verbal Management and mental tracking Mobile
budgeting Apps
Informal diaries and notebooks
Stage 3: Development of Possible Solutions
After analysing existing budgeting methods used by young entrepreneurs in
Cowdray Park, I developed three original solutions tailored to their needs.
Each idea was tested or observed in my local context to ensure practicality
and relevance.
Idea 1: Youth Budgeting Template Booklet
A printable booklet with weekly and monthly budgeting templates, including
sections for income, expenses, savings, and reinvestment.
- Merits
1. Low-cost and easy to distribute
2. Encourages consistent record-keeping
3. Can be customized for different business types
- Demerits
1. Manual entry may be time-consuming
2. Risk of damage or loss
3. Requires basic literacy and discipline
- Evidence
Tested with 5 student vendors. After 2 weeks, 3 reported better control over
spending and clearer profit margins.
Idea 2: Budgeting Wall Chart for Tuck-shops
A large-format wall chart showing daily income, expenses, and savings goals.
Designed for tuck-shop owners to fill in with markers and update regularly.
- Merits
1. Highly visible and easy to use
2. Promotes accountability and routine
3. Can be shared with assistants or family
- Demerits
1. Limited privacy
2. Needs space and weather protection
3. May be ignored if not updated consistently
- Evidence
A tuck-shop owner used the chart for one week and reported fewer impulse
purchases and better savings discipline.
Idea 3: Budgeting Skit & Awareness Campaign
A short skit showing a young entrepreneur who fails due to poor budgeting,
then succeeds after using a simple template.
- Merits
1. Engaging and relatable for youth audiences
2. Promotes budgeting through storytelling
3. Can be used in schools and workshops
- Demerits
1. Requires actors and rehearsal time
2. Impact depends on delivery and audience
3. Not a direct budgeting tool
- Evidence
After the skit, 8 out of 12 attendees requested copies of the budgeting
template.
Stage 4: Refinement of Chosen Idea
4.1 Indication of Choice (1 mark)
I selected the Budgeting Wall Chart for Tuck-shops as my final solution.
4.2 Justification of Choice (2 marks)
- The chart is highly visible and encourages daily financial discipline
- It suits the Cowdray Park context and is easy to use for youth vendors
4.3 Refinements
1. Design Upgrade: Added bold headings, color-coded sections, and a weekly
summary box
2. Material Enhancement: Laminated chart and used waterproof markers
3. Placement Strategy: Mapped ideal zones—inside tuck-shops, school gates,
shaded stalls
4. Youth Branding Element: Added slogan “Track It. Save It. Grow It.” And
logo space
4.4 Overall Presentation/Impression (1 mark)
The final Budgeting Wall Chart is bold, practical, and youth-friendly. It reflects
the habits and needs of young entrepreneurs in Cowdray Park and is ready
for rollout.
Stage 5: Final Solution Presentation
I finalized the Budgeting Wall Chart for Tuck-shops as my budgeting solution.
It features bold headings, color-coded sections, and a weekly summary box.
Laminated for durability, it’s placed in high-traffic areas like tuck-shops and
school gates. A motivational slogan and branding space were added to boost
engagement. The chart is practical, reusable, and ready for rollout, with
mock-ups and placement maps included in the project folder.
Stage 6: Evaluation and Recommendation
6.1 Relevance to Statement of Intent (2 marks)
The Budgeting Wall Chart directly addressed the problem of poor financial
planning among youth vendors. It promoted daily tracking and supported
financial discipline.
6.2 Challenges Encountered (2 marks)
- Some charts were not updated consistently
- A few vendors felt exposed sharing financial details
- Laminating materials were limited
6.3 Recommendations (2 marks)
- Use waterproof materials or plastic sleeves
- Encourage semi-private placement for confidentiality
- Pair chart with training sessions or skits
- Add QR codes linking to tutorials or printable templates