Elements and Performance Criteria
- Demonstrate knowledge of personal financial matters
- Determine how career choice, education and skills affect income and goal attainment
- Identify short-term and long-term financial goals
- Identify tax matters relating to personal income
- Explain impact of consumer and financial behaviour on personal spending
- Explain how insurance and other risk management strategies protect against financial loss
- Identify components of superannuation relevant to individual income earners
- Manage personal finances
- Compare benefits and costs of alternatives in spending decisions
- Identify purpose of planning personal finances
- Make personal financial choices based on logical decision making
- Evaluate consequences of personal financial decisions, including contracts
- Develop methods and systems (including electronic) to stay in control of personal cash flow, spending and use of debt
- Build knowledge of personal financial matters
- Explore and evaluate factors that affect personal credit worthiness
- Seek advice from a specialist or mentor where required
- Develop systems for maintaining up-to-date knowledge about personal finances and career opportunities to achieve goals
- Identify reliable sources of ongoing information relevant to personal career and financial goals