Monitoring Income And Expenses

From Open Risk Manual


Monitoring Income And Expenses. In the context of the Financial Competence Framework, Monitoring Income And Expenses is a topic in the Planning And Managing Finances subject matter domain.[1]


Mastering the role of Monitoring Income And Expenses in financial literacy context requires the following competences:

Code Competency Description Competency Type
115 Aware that very recent transactions may not yet have been reflected in the latest consulted financial statement Knowledge
116 Regularly tracks expenses and expenditure Skill
117 Distinguishes between fixed and variable expenditure Skill
118 Treats essential spending as a higher priority than discretionary spending Skill
119 Keeps any business income and expenditure separate from that of the household Skill


  1. European Union/OECD (2022), Financial competence framework for adults in the European Union