Monitoring Income And Expenses
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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
