Savings Buffers
From Open Risk Manual
Definition
Savings Buffers. In the context of the Financial Competence Framework, Savings Buffers is a topic in the Planning And Managing Finances subject matter domain.[1]
Competences
Mastering the role of Savings Buffers in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 154 | Understands the benefit of having emergency savings to cover financial shocks | Knowledge |
| 155 | Some savings in a highly accessible or liquid form | Knowledge |
| 156 | Takes steps to have emergency savings to manage financial shocks | Skill |
| 157 | Values the additional financial resilience created through saving | Attitude |
| 158 | Satisfied with current savings buffer or motivated to increase it | Attitude |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
