External Influences
From Open Risk Manual
Definition
External Influences. In the context of the Financial Competence Framework, External Influences is a topic in the Financial Landscape subject matter domain.[1]
Competences
Mastering the role of External Influences in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 551 | Understands how economic factors, such as a recession or high inflation, and other factors (for example related to the climate, the environment or pandemic diseases) can affect aspects of personal financial status, including wealth | Knowledge |
| 552 | Follows news of events that may impact on personal financial security or well-being | Skill |
| 553 | Confident to make changes to financial plans as necessary in light of external factors | Attitude |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
