Financial Competence

Definition

Financial Competence denotes that an individual has the knowledge and skills needed to perform a financial task, do a job, alongside with the interpersonal skills and general awareness or wisdom required to operate effectively in a modern Financial System. It is usually thought as a collection of related "competences" in an overal Financial Competence Framework

Classification by Competence Type

• Awareness, Knowledge and Understanding
• Skills and Behaviour
• Confidence, Motivation and Attitudes

Classification by Context

• Digital Financial Competence
• Sustainable Finance Competence
• Financial Resilience Competence
• Daily Life Competence
• Widely Relevant Competence

See Also

• Financial Capability