Saving Goals And Priorities

Definition

Saving Goals And Priorities. In the context of the Financial Competence Framework, Saving Goals And Priorities is a topic in the Planning And Managing Finances subject matter domain.

Competences

Mastering the role of Saving Goals And Priorities in financial literacy context requires the following competences:

Code	Competency Description	Competency Type
146	Understands the benefits of saving, of having savings goals and a plan to achieve them	Knowledge
147	Understands the benefits of starting to save from a young age and saving regularly	Knowledge
148	Understands the concept of treating personal saving as a financial commitment, sometimes described as “pay yourself first”	Knowledge
149	Identifies a specific savings goal with a time frame and an approach to achieve it	Skill
150	Strives to save each time income is received	Skill
151	Prioritises saving ahead of some forms of discretionary spending	Skill
152	Confident to set own savings targets based on realistic aspirations and believes it is possible to reach those saving targets	Attitude
153	Sees saving as a basic component of a household budget	Attitude