Manage personal finances

PURPOSE OF THE UNIT STANDARD 

Learners credited with this unit standard are able to manage personal finances.

Qualifying learners are able to:

·  Understand personal finance.

·  Plan and prepare a personal budget.

·  Operate a personal bank account. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 

It is assumed that learners are competent in:

·  Communication at ABET Level 3.

·  Mathematical Literacy at ABET Level 3. 

UNIT STANDARD RANGE 

·  The scope of this unit standard is for any person who needs to manage his or her personal finances.

·  In the context of this unit standard, personal finances includes, but is not limited to, earnings, other income, inflation, savings, financial planning, taxes, expenditure, statutory and other deductions.