Drawing A Budget

Definition

Drawing A Budget. In the context of the Financial Competence Framework, Drawing A Budget is a topic in the Planning And Managing Finances subject matter domain.

Competences

Mastering the role of Drawing A Budget in financial literacy context requires the following competences:

Code	Competency Description	Competency Type
120	Knows what a budget is, how to create one and why it is beneficial to do so	Knowledge
121	Aware of reliable budgeting tools developed by impartial providers, including mobile apps and other digital budgeting tools and services	Knowledge
122	Understands why it is important to take into account the medium and longer-term perspectives when budgeting	Knowledge
123	Identifies “needs” and “wants” and prioritizes as necessary	Skill
124	Creates a regular budget to plan income, saving and expenditure, using appropriate tools if available	Skill
125	Regularly uses reliable budgeting tools, including mobile apps or other digital tools, developed by impartial providers	Skill
126	Motivated to take time to create and follow a budget as a strategy for maintaining or increasing financial well-being	Attitude
127	Motivated to consider the overall budget when making spending decisions	Attitude
128	Motivated to look beyond immediate needs and wants when budgeting to prepare for longer-term requirements	Attitude
129	Confident to adjust a budget if necessary	Attitude