DETAILS

Level	:	NQF Level 01
Credits	:	5
Purpose	:
This unit standard is for any learner 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 will also help to develop a learner`s understanding of his/her own income and expenditure patterns. The learner will be able to plan short and long term financial commitments and how to budget for them. A learner credited with this unit standard is 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 will contribute to the full development of the learner 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 may be used a core or elective within a GETC or any vocationally based qualification.