Monitoring Income And Expenses
From Open Risk Manual
Definition
Monitoring Income And Expenses. In the context of the Financial Competence Framework, Monitoring Income And Expenses is a topic in the Planning And Managing Finances subject matter domain.[1]
Competences
Mastering the role of Monitoring Income And Expenses in financial literacy context requires the following competences:
Code | Competency Description | Competency Type |
---|---|---|
115 | Aware that very recent transactions may not yet have been reflected in the latest consulted financial statement | Knowledge |
116 | Regularly tracks expenses and expenditure | Skill |
117 | Distinguishes between fixed and variable expenditure | Skill |
118 | Treats essential spending as a higher priority than discretionary spending | Skill |
119 | Keeps any business income and expenditure separate from that of the household | Skill |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union