Difference between revisions of "Basics Of Managing Income And Expenses"
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== Definition == | == Definition == | ||
− | '''Basics Of Managing Income And Expenses'''. In the context of the [[Financial Competence Framework]], ''Basics Of Managing Income And Expenses'' is a topic in the [[:Category: | + | '''Basics Of Managing Income And Expenses'''. In the context of the [[Financial Competence Framework]], ''Basics Of Managing Income And Expenses'' is a topic in the [[:Category:Planning And Managing Finances | Planning And Managing Finances]] subject matter domain.<ref>European Union/OECD (2022), Financial competence framework for adults in the European Union</ref> |
== Competences == | == Competences == | ||
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− | [[Category: | + | [[Category:Planning And Managing Finances | Planning And Managing Finances]] |
Latest revision as of 16:35, 1 April 2022
Definition
Basics Of Managing Income And Expenses. In the context of the Financial Competence Framework, Basics Of Managing Income And Expenses is a topic in the Planning And Managing Finances subject matter domain.[1]
Competences
Mastering the role of Basics Of Managing Income And Expenses in financial literacy context requires the following competences:
Code | Competency Description | Competency Type |
---|---|---|
130 | Understands why it is important to actively manage money in addition to monitoring income and expenses | Knowledge |
131 | Aware that family, community and socio-cultural values and customs can influence the way in which people manage their money | Knowledge |
132 | Compares actual expenses against budgeted amounts and makes adjustments to the budget or to expenses where necessary | Skill |
133 | Seeks ways of adjusting income or expenditure as necessary, taking into account occasional expenses such as gifts, donations or holidays. | Skill |
134 | Confident to make independent decisions about income and expenditure | Attitude |
135 | Confident to set personal priorities in terms of essential and discretionary expenditure | Attitude |
136 | Accepts the responsibility of managing individual and possibly household finances | Attitude |
137 | Comfortable discussing planning and managing finances with significant others | Attitude |
138 | Confident to act on behalf of others to manage their financial affairs if given the legal responsibility to do so | Attitude |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union