Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

CHCFLE302A Mapping and Delivery Guide
Educate clients in fundamental financial literacy skills

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency CHCFLE302A - Educate clients in fundamental financial literacy skills
Description This unit describes the skills and knowledge required to provide education for clients in fundamental financial literacy skills, such as preparing and using a budget to address identified goals and priorities
Employability Skills This unit contains Employability Skills
Learning Outcomes and Application This unit is designed for application by workers in the community sector who may need to provide basic financial literacy education for client groupsFinancial literacy education provides targeted information and resources to meet particular client needsAcquisition 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
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites Not Applicable
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Assist client groups to understand the role of budgeting in personal financial management
  • Explain the role of budgeting in the lives of different groups
  • Identify 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 obstacles that might prevent financial goals being achieved
  • Explain the types of behaviours and skills required for successful budgeting
       
Element: Assist clients to identify key principles of budgeting and money management
  • Explain different styles of budgets and plans
  • Identify types of regular and irregular expenses
  • Identify appropriate payment options to suit the budgeting style
       
Element: Assist client to develop 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 period
  • Identify surplus or deficit and discuss with the client
  • Encourage client to allocate surplus funds towards meeting identified financial goals
  • Assist client to understand basic paperwork relevant to their money management needs
       
Element: Provide resources to assist client to self manage their finances on an ongoing basis
  • 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
       


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.

The evidence guide provides advice on assessment and must be read in conjunction with the Performance Criteria, Required Skills and Knowledge, the Range Statement and the Assessment Guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate this unit of competency:

The individual being assessed must provide evidence of specified essential knowledge as well as skills

This unit is best assessed in the workplace or in a simulated workplace under the normal of range conditions

Assessment should be gathered on one or more occasions but must reflect the normal range of client situations encountered in the workplace

Access and equity considerations:

All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work

All workers should develop their ability to work in a culturally diverse environment

In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people

Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities

Context of and specific resources for assessment:

This unit can be assessed independently, however holistic assessment practice is encouraged with other community services units of competency, such as:

CHCFLE301A Work with clients needing financial literacy education

CHCFLE303A Educate clients to understand debt and consumer credit

Resources required for assessment of this unit include access to:

an appropriate workplace where assessment can take place or simulation of realistic workplace setting for assessment

Method of assessment:

In cases where the learner does not have the opportunity to cover all relevant aspects in the work environment, the remainder should be assessed through realistic simulations, projects, previous relevant experience or oral questioning on 'What if?' scenarios

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on Essential knowledge and skills and consideration of required attitudes

Where performance is not directly observed and/or is required to be demonstrated over a 'period of time' and/or in a 'number of locations', any evidence should be authenticated by colleagues, supervisors, clients or other appropriate persons

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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.

This describes the essential skills and knowledge and their level required for this unit.

Essential knowledge:

The candidate must be able to demonstrate essential knowledge required to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role

These include knowledge of:

Purpose of budgeting

Life Events

Short term v long term planning

Regular and irregular income and expenses/fixed and variable expenses

Prioritising

Payment Options including B-Pay, EFTPOS, ATM, Centrepay, DD, Budget Cards, lay-by

Savings Circles

Emergency Relief

Community resources such as NILS, concessions

Microfinance options

Essential skills:

It is critical that the candidate demonstrate the ability to:

Work with groups

Identify resources and referrals

Provide information clearly in line with target group needs

Demonstrate and explain money planning and management

Explain short term versus long term planning

In addition, the candidate must be able to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role

These include the ability to:

Demonstrate application of skills in:

communication

research skills

time management

budgeting

report writing

evaluation

presentation

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.

Client groups may include but are not limited to:

Church and community groups

Schools

Vulnerable and at risk client groups

Causes of financial exclusionmay relate to, for example:

Low levels of literacy and numeracy

Mental health issues

Cultural and language background

Alcohol and other drugs issues

Domestic violence issues

Age

High cost of credit, fees and charges

Delivery of financial literacy education may include:

Individuals

Families

Groups

Identified target communities and groups

Obstacles may include, for example:

Family dynamics

Support network

Instability in housing or homelessness

Numeracy and literacy issues

Paperwork may include:

Utility accounts

Bank statements

Insurance documentation

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 role of budgeting in the lives of different groups 
Identify 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 obstacles 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 
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 period 
Identify surplus or deficit and discuss with the client 
Encourage client to allocate surplus funds towards meeting identified financial goals 
Assist client to understand basic paperwork relevant to their money management needs 
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 

Forms

Assessment Cover Sheet

CHCFLE302A - Educate clients in 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:

Signature:

Date:

Assessment Record Sheet

CHCFLE302A - Educate clients in 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: