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Evidence Guide: CHCEDU006 - Improve clients’ fundamental financial literacy skills

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CHCEDU006 - Improve clients’ fundamental financial literacy skills

What evidence can you provide to prove your understanding of each of the following citeria?

Elements define the essential outcomes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

  1. Explain the concept of budgeting in the lives of different clients
  2. Explain the importance of effective budgeting to meet regular and irregular expenses and relate this to different stages of life
  3. Explain the importance of setting financial goals and analyse in relation to client’s goals and priorities
  4. Identify and address barriers that might prevent financial goals being achieved
  5. Explain the types of behaviours and skills required for successful budgeting
Explain the concept of budgeting in the lives of different clients

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and address barriers that might prevent financial goals being achieved

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Explain the types of behaviours and skills required for successful budgeting

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assist clients to identify key principles of budgeting and money management

  1. Explain different styles of budgets and plans
  2. Identify types of regular and irregular expenses
  3. Identify appropriate payment options to suit the budgeting style
  4. Discuss important of record keeping in relation to spending
  5. Assist client to understand basic paperwork relevant to their money management needs
  6. Identify appropriate record keeping method for the client
Explain different styles of budgets and plans

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify types of regular and irregular expenses

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify appropriate payment options to suit the budgeting style

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Discuss important of record keeping in relation to spending

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify appropriate record keeping method for the client

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assist client to develop a personal budget

  1. Explain components of a personal budget
  2. Assist client to identify and list all income and expenditure for a relevant period of time
  3. Identify regular and irregular items of expenditure and project these expenses over a future length of time in relation to income periods
  4. Identify surplus or deficit and discuss with the clients in relation to their stated priorities
  5. Encourage clients to allocate surplus funds towards meeting identified financial goals
Explain components of a personal budget

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Encourage clients to allocate surplus funds towards meeting identified financial goals

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

  1. Provide the client with budgeting tools to assist in developing own personal budget to suit their particular needs
  2. Discuss strategies and tips to successfully manage a personal budget
  3. Provide relevant community information and resources to assist client in meeting their financial needs
  4. Assist clients to identify when a budget requires review
  5. Refer to specialist services or financial counselling according to clients needs
Provide the client with budgeting tools to assist in developing own personal budget to suit their particular needs

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Discuss strategies and tips to successfully manage a personal budget

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assist clients to identify when a budget requires review

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Refer to specialist services or financial counselling according to clients needs

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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