Financial Competence
From Open Risk Manual
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
