Elements and Performance Criteria
- Assist customers to identify financial goals and priorities
- Gain understanding of customers’ financial situation through discussion and interviews with customers
- Assist customers to identify short-term, medium-term and long-term financial goals that are specific, realistic and achievable
- Identify and confirm financial priorities with customers, taking into consideration all aspects of financial situation
- Discuss purposes of developing and implementing a personal budget
- Assist customers to develop budget
- Assist customers to identify and list all income and expenditure for relevant period of time
- Establish and project regular and irregular items of expenditure over future period, and identify and discuss surplus or deficit financial situation with customers
- Encourage customers to allocate surplus funds towards meeting identified financial goals
- Provide ongoing assistance to customers
- Provide budgeting tools to customers to assist in developing own personal budgets for monthly and annual periods
- Provide strategies and tips for implementing and managing personal budgets and finances to customers according to their needs
- Encourage ongoing review of budgets by customers to ensure they remain relevant or are updated if necessary