Plan and manage personal finances

Plan and manage personal finances

15092
NQF Level: 
4
Purpose and Rationale: 

his unit standard The registered statements of desired education and training outcomes and their associated assessment criteriais for any learner Any person receiving education and training (in terms of the ABET Act of 2000)who needs to understand the world of money in order to manage personal finances. It will help learners to actively plan and manage their own financial well-being by taking into account risks and safety measures. This unit standard The registered statements of desired education and training outcomes and their associated assessment criteriawill also help to develop a learner`s understanding of his/her own income and expenditure patterns. The learner Any person receiving education and training (in terms of the ABET Act of 2000)will be able to plan short and long term financial commitments and how to budget for them. 

A learner Any person receiving education and training (in terms of the ABET Act of 2000)credited with this unit standard The registered statements of desired education and training outcomes and their associated assessment criteriais able to: 

  • Explain the importance of managing personal finances
  • Set personal financial goals
  • Identify ways to achieve personal financial goals
  • Develop a personal and/or family budget 

This unit standard The registered statements of desired education and training outcomes and their associated assessment criteriawill contribute to the full development of the learner Any person receiving education and training (in terms of the ABET Act of 2000)by developing planning skills for own financial well- being as well as providing recognition, further mobility and portability of skills within society. 

This unit standard The registered statements of desired education and training outcomes and their associated assessment criteriamay be used a core or elective within a GETC or any vocationally based qualification.The formal recognition of the achievement of the required number and range of credits and other requirements at specific levels of the NQF determined by the relevant bodies registered Officially registered (recorded) in terms of the National Qualifications Frameworkby SAQA 

Exit Level Outcome: 
  • Explain the importance of managing personal finances.
  • Set personal financial goals. 
  • Identify ways to achieve personal financial goals. 
  • Develop a personal and/or family budget.