Assessor Resource

CHCEDU006
Improve clients’ fundamental financial literacy skills

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the skills and knowledge required to provide education for individual clients or groups to strengthen fundamental financial literacy skills in order to address identified needs, goals and priorities in relation to personal financial management.

This unit applies to workers in both health and community services sectors. Workers at this level will be part of a professional team and under the guidance of a supervisor.

Financial literacy education provides targeted information and resources to meet particular client needs.

Acquisition of financial literacy education competencies alone does not provide sufficient foundation to undertake complex financial literacy education or financial counselling.

Where financial issues have the potential to become complex, clients should be referred to a qualified financial counsellor.

The skills in this unit must be applied in accordance with Commonwealth and State/Territory legislation, Australian/New Zealand standards and industry codes of practice.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist client groups to understand the role of budgeting in personal financial management

1.1 Explain the concept of budgeting in the lives of different clients

1.2 Explain the importance of effective budgeting to meet regular and irregular expenses and relate this to different stages of life

1.3 Explain the importance of setting financial goals and analyse in relation to client’s goals and priorities

1.4 Identify and address barriers that might prevent financial goals being achieved

1.5 Explain the types of behaviours and skills required for successful budgeting

2. Assist clients to identify key principles of budgeting and money management

2.1 Explain different styles of budgets and plans

2.2 Identify types of regular and irregular expenses

2.3 Identify appropriate payment options to suit the budgeting style

2.4 Discuss important of record keeping in relation to spending

2.5 Assist client to understand basic paperwork relevant to their money management needs

2.6 Identify appropriate record keeping method for the client

3. Assist client to develop a personal budget

3.1 Explain components of a personal budget

3.2 Assist client to identify and list all income and expenditure for a relevant period of time

3.3 Identify regular and irregular items of expenditure and project these expenses over a future length of time in relation to income periods

3.4 Identify surplus or deficit and discuss with the clients in relation to their stated priorities

3.5 Encourage clients to allocate surplus funds towards meeting identified financial goals

4. Provide resources to assist client to self manage their finances on an ongoing basis

4.1 Provide the client with budgeting tools to assist in developing own personal budget to suit their particular needs

4.2 Discuss strategies and tips to successfully manage a personal budget

4.3 Provide relevant community information and resources to assist client in meeting their financial needs

4.4 Assist clients to identify when a budget requires review

4.5 Refer to specialist services or financial counselling according to clients needs

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist client groups to understand the role of budgeting in personal financial management

1.1 Explain the concept of budgeting in the lives of different clients

1.2 Explain the importance of effective budgeting to meet regular and irregular expenses and relate this to different stages of life

1.3 Explain the importance of setting financial goals and analyse in relation to client’s goals and priorities

1.4 Identify and address barriers that might prevent financial goals being achieved

1.5 Explain the types of behaviours and skills required for successful budgeting

2. Assist clients to identify key principles of budgeting and money management

2.1 Explain different styles of budgets and plans

2.2 Identify types of regular and irregular expenses

2.3 Identify appropriate payment options to suit the budgeting style

2.4 Discuss important of record keeping in relation to spending

2.5 Assist client to understand basic paperwork relevant to their money management needs

2.6 Identify appropriate record keeping method for the client

3. Assist client to develop a personal budget

3.1 Explain components of a personal budget

3.2 Assist client to identify and list all income and expenditure for a relevant period of time

3.3 Identify regular and irregular items of expenditure and project these expenses over a future length of time in relation to income periods

3.4 Identify surplus or deficit and discuss with the clients in relation to their stated priorities

3.5 Encourage clients to allocate surplus funds towards meeting identified financial goals

4. Provide resources to assist client to self manage their finances on an ongoing basis

4.1 Provide the client with budgeting tools to assist in developing own personal budget to suit their particular needs

4.2 Discuss strategies and tips to successfully manage a personal budget

4.3 Provide relevant community information and resources to assist client in meeting their financial needs

4.4 Assist clients to identify when a budget requires review

4.5 Refer to specialist services or financial counselling according to clients needs

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
 
Explain the concept of budgeting in the lives of different clients 
Explain the importance of effective budgeting to meet regular and irregular expenses and relate this to different stages of life 
Explain the importance of setting financial goals and analyse in relation to client’s goals and priorities 
Identify and address barriers that might prevent financial goals being achieved 
Explain the types of behaviours and skills required for successful budgeting 
Explain different styles of budgets and plans 
Identify types of regular and irregular expenses 
Identify appropriate payment options to suit the budgeting style 
Discuss important of record keeping in relation to spending 
Assist client to understand basic paperwork relevant to their money management needs 
Identify appropriate record keeping method for the client 
Explain components of a personal budget 
Assist client to identify and list all income and expenditure for a relevant period of time 
Identify regular and irregular items of expenditure and project these expenses over a future length of time in relation to income periods 
Identify surplus or deficit and discuss with the clients in relation to their stated priorities 
Encourage clients to allocate surplus funds towards meeting identified financial goals 
Provide the client with budgeting tools to assist in developing own personal budget to suit their particular needs 
Discuss strategies and tips to successfully manage a personal budget 
Provide relevant community information and resources to assist client in meeting their financial needs 
Assist clients to identify when a budget requires review 
Refer to specialist services or financial counselling according to clients needs 

Forms

Assessment Cover Sheet

CHCEDU006 - Improve clients’ fundamental financial literacy skills
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

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Date:

Assessment Record Sheet

CHCEDU006 - Improve clients’ fundamental financial literacy skills

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: