Sources Of Income
From Open Risk Manual
Definition
Sources Of Income. In the context of the Financial Competence Framework, Sources Of Income is a topic in the Money And Transactions subject matter domain.[1]
Competences
Mastering the role of Sources Of Income in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 20 | Knows about the sources of earned and unearned income, including available government benefits and the requirements for receiving them | Knowledge |
| 21 | Understands why an individual’s net income may fluctuate | Knowledge |
| 22 | Can identify legal ways to increase income | Knowledge |
| 23 | Understands how assets or investments can provide a source of income | Knowledge |
| 24 | Declares all sources of income to tax authorities | Skill |
| 25 | Comfortable discussing income with others when necessary | Attitude |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
