SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Manage personal expenditure 
SAQA US ID UNIT STANDARD TITLE
119915  Manage personal expenditure 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
10712  Manage personal expenditure  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
Learners who achieve this unit standard can make more informed decisions with regard to the management of personal expenditure.

The qualifying learner is capable of:
  • Reconciling and managing the items on a personal bank statement.
  • Reconciling creditor statements.
  • Identifying the impact of a change in interest rates on loan credit.
  • Explaining the impact of inflation on the individual. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at NQF Level 2 or equivalent.
  • Mathematical Literacy at NQF Level 2 or equivalent.
  • Financial Literacy at NQF Level 2. 

  • UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • The full range of debits and credits on bank statements including bank charges, interest on overdraft, cheque payments, debit/stop orders, ATM withdrawals, RD cheque fees, Internet banking transfers, direct deposits, cash and bank deposits and interest received.
  • Creditor account issues including interest free, costs of becoming club members, voluntary/involuntary insurance, automatic debits and acceptance of special offers, early settlement and late payments.
  • Creditors include credit cards, shop accounts, cell phones, telephone, electricity and water accounts.
  • Capital and interest portions of loan repayments include payments on a bond, car, household and personal items.
  • Potentially fraudulent, automatic, or unnecessary charges on accounts and insurance.
  • A basket of goods is made up of 5 to 10 items that are purchased by the learner monthly. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Recognise and manage the items on a personal bank statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Types of withdrawals and deposits shown on a bank statement are identified and the cost of each type of transaction is summarised in a table. 

    ASSESSMENT CRITERION 2 
    Costs of transactions are investigated and compared for three different banks with a view to reducing bank charges. 

    ASSESSMENT CRITERION 3 
    The concepts of stop orders and debit orders are explained with examples. 

    ASSESSMENT CRITERION 4 
    The concepts of stale cheques and RD (return to drawer) cheques are explained with examples. 

    ASSESSMENT CRITERION 5 
    The dates of transactions are explained in terms of their implications for clearance periods and cheques yet to be presented. 

    ASSESSMENT CRITERION 6 
    An accurate record of deposits and withdrawals made in a month from ATM slips, cheques and other transactions are accurately reconciled to a bank statement and the risk associated with not managing and reconciling bank statements promptly is indicated for own situation. 

    ASSESSMENT CRITERION 7 
    Internet banking is investigated and a summary is made of the costs, benefits, and risks for this banking option. 

    SPECIFIC OUTCOME 2 
    Reconcile creditor statements. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The types of debits and credits on creditor's statements are investigated and listed from an authentic statement. 

    ASSESSMENT CRITERION 2 
    Options for recourse available to customers in cases of creditor fraud and unauthorised charges are explained and an indication is given how a customer can access help. 

    ASSESSMENT CRITERION 3 
    The implications of non-payment, overpayment and late payment of creditor accounts are summarised from the point of view of the customer and the creditor. 

    ASSESSMENT CRITERION 4 
    A creditor's statement is accurately reconciled to records kept of purchases and payments and the risk involved if creditors' statements are not checked and reconciled promptly is explained with examples. 

    SPECIFIC OUTCOME 3 
    Identify the impact of a change in interest rates on personal spending. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The capital and interest portions of a typical loan repayment are identified for three examples. 

    ASSESSMENT CRITERION 2 
    The total amount paid over the life of a home loan is calculated for a typical home loan at various rates of interest over 15, 20 and 25 years and .the implications of increasing, decreasing or retaining existing repayments when interest rates change are depicted graphically. 

    ASSESSMENT CRITERION 3 
    The alternatives of maintaining current instalments or making an alternative investment with the amount saved are compared and a decision is made on the best action to be taken when interest rates are decreased for own situation. 

    ASSESSMENT CRITERION 4 
    The advantages and disadvantages of an access type bond are investigated and a decision is made about the appropriateness of this type of bond in own circumstances. 

    SPECIFIC OUTCOME 4 
    Explain inflation and its impact on the individual. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of inflation is explained with reference to a basket of goods and own experience. 

    ASSESSMENT CRITERION 2 
    The method of calculating the official inflation rate is explained and an opinion is formed as to its relevance to own situation. 

    ASSESSMENT CRITERION 3 
    Alternative methods of calculating the rate of inflation are considered and a system is devised for calculating ones own personal inflation rate. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify, solve problems and make decisions relating to his/her current monthly spending. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself effectively by managing bank and creditor accounts. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information relating to own bank and creditor accounts. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively when evaluating his/her own bank and creditor statements. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use technology such as ATM and Internet banking facilities and in calculating the amount payable over the life of a loan. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to act as a responsible citizen in managing own finances. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 10712, "Manage personal expenditure", Level 3, 3 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  64949   National Certificate: Laboratory Practice  Level 2  NQF Level 02  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Core  58248   National Certificate: Laboratory Practice  Level 2  NQF Level 02  Passed the End Date -
    Status was "Registered" 
    2008-08-05  MQA 
    Core  58204   Further Education and Training Certificate: Cable Jointing and Termination  Level 4  NQF Level 04  Reregistered  2023-06-30  EWSETA 
    Fundamental  57899   National Certificate: Printing and Manufacture of Packaging  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered" 
    2015-06-30  FPMSETA 
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered" 
    2015-06-30  BANKSETA 
    Elective  49772   National Certificate: Archaeology  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  CATHSSETA 
    Elective  66749   National Certificate: Community Development  Level 3  NQF Level 03  Reregistered  2023-06-30  ETDP SETA 
    Elective  49256   Further Education and Training Certificate: Counselling  Level 4  NQF Level 04  Reregistered  2023-06-30  HW SETA 
    Elective  49529   Further Education and Training Certificate: Long-Term Risk Assessment  Level 4  NQF Level 04  Reregistered  2023-06-30  INSETA 
    Elective  57898   Further Education and Training Certificate: Printing and Manufacture of Packaging  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2015-06-30  FPMSETA 
    Elective  66609   Further Education and Training Certificate: Retail Insurance  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  66610   Further Education and Training Certificate: Short Term Insurance  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  57613   Further Education and Training Certificate: Short-Term Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  INSETA 
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Alcari Learning Centre (Pty) Ltd 
    4. ANGLOGOLD ASHANTI LTD (V/R) 
    5. BRC Solutions (Pty) Ltd 
    6. CKP Development Agency (Pty) Ltd. 
    7. De Vries Management & Training Services cc 
    8. DSBI (Pty) Ltd 
    9. EJW Financial Services (Pty) Ltd 
    10. Executive People Development Solutions (Pty) Ltd 
    11. Faisit (Pty) Ltd 
    12. HT MARKTECH 
    13. Impala Platinum Limited 
    14. Intec College 
    15. INTEGRATED ADULT TRAINING 
    16. Intelligo Solutions Pty (Ltd) 
    17. Invuya Institute of Learning (Pty) Ltd 
    18. KGWEBISWANO SUPPLIES & SERVICES 
    19. Masifunde Training Centre (Pty) Ltd 
    20. METSKILL (PTY) LTD 
    21. Nedbank Ltd 
    22. Octomate (Pty) Ltd 
    23. Old Mutual Life Assurance Company South Africa 
    24. Outsurance Insurance Company Ltd 
    25. Ray Strodl Consulting (Pty) Ltd 
    26. Ripple Effect 4 (Pty) Ltd 
    27. Sanlam Life Insurance Ltd 
    28. Sanlam Life Insurance Ltd. 
    29. The Institute of Health Risk Managers (Pty) Ltd 
    30. Umfolozi FET College - Central Office 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.