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 THAT HAS PASSED THE END DATE: 

Plan and manage personal finances 
SAQA US ID UNIT STANDARD TITLE
15092  Plan and manage personal finances 
ORIGINATOR
SGB Life Skills 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 07 - Human and Social Studies People/Human-Centred Development 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
ABET Level 4  Regular-Fundamental  Level 1  NQF Level 01  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is for any learner who needs to understand the world of money in order to manage personal finances. It will help learners to actively plan and manage their own financial well-being by taking into account risks and safety measures. This unit standard will also help to develop a learner`s understanding of his/her own income and expenditure patterns. The learner will be able to plan short and long term financial commitments and how to budget for them.

A learner credited with this unit standard is able to:
  • Explain the importance of managing personal finances
  • Set personal financial goals
  • Identify ways to achieve personal financial goals
  • Develop a personal and/or family budget

    This unit standard will contribute to the full development of the learner by developing planning skills for own financial well- being as well as providing recognition, further mobility and portability of skills within society.

    This unit standard may be used a core or elective within a GETC or any vocationally based qualification. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Description of required skills:
  • Fundamental communication skills at ABET level 3.
  • Fundamental numeracy skills at ABET level 3. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the importance of managing personal finances. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Socio-economic circumstances in South Africa are explained in order to understand the impact on one's financial situation. 

    ASSESSMENT CRITERION 2 
    2. The consequences of not having a good credit rating are explained in relation to financing credit related purchases. 

    ASSESSMENT CRITERION 3 
    3. The risks, pitfalls, limitations and unforeseen events that affect a budget are identified to understand the consequences of poor financial planning. 

    SPECIFIC OUTCOME 2 
    Set personal financial goals. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The difference between "wants" and "needs" is explained by providing examples from personal experience. 
    ASSESSMENT CRITERION RANGE 
    Needs may include things required for survival. Wants refer to extras that are nice to have.
     

    ASSESSMENT CRITERION 2 
    2. Personal wants and needs are identified and listed to set personal financial goals. 

    ASSESSMENT CRITERION 3 
    3. Personal goals are planned and recorded in order to meet own or family needs or wants. 
    ASSESSMENT CRITERION RANGE 
    Goals may include short, medium and long-term goals.
     

    SPECIFIC OUTCOME 3 
    Identify ways to achieve personal financial goals. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Basic financial terminology is explained with examples. 
    ASSESSMENT CRITERION RANGE 
    These terms may include but are not limited to: hire purchase agreements, savings account, cheque account, transmission account, mortgage loan, credit, debit, interest.
     

    ASSESSMENT CRITERION 2 
    2. Formal financial institutions and their services are described in order to make an informed choice of which service to use. 
    ASSESSMENT CRITERION RANGE 
    Formal financial institutions may refer to banks, micro-financial institutions, and building societies.
     

    ASSESSMENT CRITERION 3 
    3. Informal financial institutions and their services are described and explained in terms of advantages and disadvantages so that an informed choice can be made. 
    ASSESSMENT CRITERION RANGE 
    Informal financial institutions may refer to friends, family, "stokvel", "loan sharks", burial societies, pyramid schemes and other informal lending schemes.
     

    ASSESSMENT CRITERION 4 
    4. Ways to save money using various financial options are listed in terms of personal priorities and long-term financial stability. 

    ASSESSMENT CRITERION 5 
    5. Ways to generate extra money to supplement personal income are identified to achieve goals. 
    ASSESSMENT CRITERION RANGE 
    These ways may include working overtime, taking on extra jobs, starting a small, home-based business, investments, lending money.
     

    SPECIFIC OUTCOME 4 
    Develop a personal and/or family budget. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Items on a personal and/or family budget are listed including income and expenses for a period of three months. 
    ASSESSMENT CRITERION RANGE 
    Income may include salaries, income from extra jobs or home-based businesses, investment profits, dividends from stock.
    Expenses may include essential and non-essential expenses based on needs and wants.
     

    ASSESSMENT CRITERION 2 
    2. Items on a personal and/or family budget are prioritised to determine potential expenditure. 

    ASSESSMENT CRITERION 3 
    3. The budget is written down to meet financial needs and responsibilities and to provide surplus cash for emergency expenses. 

    ASSESSMENT CRITERION 4 
    4. Ways to continuously check personal and/or family expenses and income are explored and described to keep budget on track. 

    ASSESSMENT CRITERION 5 
    5. A plan to adjust income and expenses is chosen to keep budget on track. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Assessment of this Unit Standard should be contextual and practical as far as possible.
  • Assessors must be registered assessors with the appropriate ETQA.
  • Assessors, accredited by the appropriate ETQA, will assess a learner`s competency.
  • Moderators must be registered as assessors with the appropriate ETQA, or with an ETQA that has a Memorandum of Understanding with the appropriate ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • Training providers must be accredited by the appropriate ETQA.
  • Accreditation and moderation mechanisms and requirements must meet the requirements of SAQA ensuring that the processes that are followed are transparent, affordable and support the development of the NQF. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    The following developmental outcomes are addressed in this unit standard:

    1. The learner is able to explore opportunities and learn more effectively by understanding the impact of income and expenditure on personal or family budgets.
    2. The learner is able to participate as a responsible citizen in the life of local communities when evaluating budgets of individuals in the local community or at a place of work. 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems by developing a plan to monitor personal and/or family expenditure. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work effectively with others as a member of a team, group, organisation or community by planning and evaluating a personal and/or family budget. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively by planning and evaluating a personal or family budget. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, analyse, organise and critically evaluate information by investigating various options to borrow or lend money from formal or informal financial institutions. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively by using mathematical and/or language skills in the modes of oral and/or written presentations by communicating realistic goals to plan for essential expenses and personal or family needs and responsibilities. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising the risks and pitfalls as well as advantages of using formal and informal financial institutions and their services. 

    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 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  71751   General Education and Training Certificate: Adult Basic Education and Training  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Core  73249   General Education and Training Certificate: Adult Basic Education and Training: Academic Curriculum  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  UMALUSI 
    Core  57829   General Education and Training Certificate: Grain Handling Processes  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  AgriSETA 
    Core  65969   General Education and Training Certificate: Human Settlements Development  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Core  49583   General Education and Training Certificate: Poultry Processing  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  AgriSETA 
    Core  49580   General Education and Training Certificate: Poultry Production  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  AgriSETA 
    Core  49082   GETC: Wood Products Processing  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FPMSETA 
    Elective  48642   General Education and Training Certificate Housing: Housing Consumer Education  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2009-05-13  Was CETA until Last Date for Achievement 
    Elective  49606   General Education and Training Certificate: Ancillary Health Care  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  HW SETA 
    Elective  50584   General Education and Training Certificate: Clothing Manufacturing Processes  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FPMSETA 
    Elective  58026   General Education and Training Certificate: Food and Beverage Handling Processes  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FOODBEV 
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2015-06-30  BANKSETA 
    Elective  24198   National Certificate: Construction Material Manufacturing  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Elective  58268   National Certificate: Lift Installation and Maintenance  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  59389   National Certificate: Nature Conservation: Resource Guardianship  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 


    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. 1 Classie Africa 
    2. A Z COMMUNITY SERVICES 
    3. ABVAHO PHANDA GROUP PTY LTD 
    4. ACADEMY OF TRAINING & DEVELOPMENT PTY LTD 
    5. African Apex Apparel (Pty) Ltd 
    6. ALABASTER TRAINING CENTRE PTY LTD 
    7. AMOS / KGAPHAMADI COMMUNITY ORGANISATION 
    8. ARANDA LEARNERSHIP COLLEGE PTY LTD 
    9. Arden School of Management (Pty) Ltd 
    10. ASSURED VOCATIONAL SKILLS INSTITUTE PTY LTD 
    11. Aubrey Nyiko Business Enterprise cc 
    12. Balemi Consulting Pty Ltd 
    13. BOKAPHITHI SKILLS AND DEVELOPMENT PTY LTD 
    14. BOLAND COLLEGE 
    15. Breakeven 59(PTY) Ltd 
    16. BT GROUP OF COMPANIES PTY LTD 
    17. CANDYS UNLIMITED COLLECTION Pty Ltd 
    18. CAPE TOWN WORKBASED LEARNING ACADEMY 
    19. Cedars Academy for Technical 
    20. CHANROSE TRAINING AND DEVELOPMENT PROJECTS 
    21. COALITION TRADING 1238 CC 
    22. College of Cape Town - Athlone Campus 
    23. College of Sustainable Agriculture 
    24. College of Vocational Studies (Pty) Ltd 
    25. Cre8tion Projects 6 PTY LTD 
    26. Cumlaude Institute (PTY) Ltd 
    27. Dlamini The Siba PTY LTD 
    28. DURBAN OVERALL PTY LTD 
    29. Edutel Wholesale & Retail Academy 
    30. EKURHULENI ARTISANS & SKILLS TRAINING CENTRE PTY LTD 
    31. ENERHU BUSINESS ENTERPRISE PTY LTD 
    32. Enjo Consultants (Pty) Ltd 
    33. Esayidi FET College - Central Office 
    34. Exodus Agri Academy Pty Ltd 
    35. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    36. Furniture World Training Centre 
    37. FUTURE DISCOVERY TRAINING ACADEMY 
    38. Ga Lechuti Transformational Talks (Pty) Ltd 
    39. GLICAM TRADING ENTERPRISE 
    40. GNBR SOLUTIONS PTY LTD 
    41. GPR Training Academy (Pty) Ltd 
    42. Green Earth Training & Development (Pty) Ltd 
    43. Greenrim Training 
    44. GUEST RESOURCE SERVICES 
    45. HELPERS FOR LIFE NPC 
    46. HEYPEX HOLDINGS PTY LTD 
    47. HLUVUKA TRAINING AND CONSULTING 
    48. HOSEAH TRADING 
    49. Imara Umbono Incorporated (Pty) Ltd 
    50. Impela Trading cc 
    51. Intellect Management and Training 
    52. Inter-Coastal Business & Property Services cc 
    53. INTERMASIKO CC 
    54. INTUTHUKO YESIZWE COMMUNITY ORGANISATION NPO 
    55. INYAPA VHUSIKU CONSULTING PTY LTD 
    56. Inyathi Visions 
    57. ITHEMBA LOMPHAKATHI COMMUNITY ORGANISATION 
    58. Kelmik Training Centre (Pty) Ltd 
    59. Khanyisa Business and Management Consultancy 
    60. Knoop Academy NPC 
    61. Leap Skills Developmemt Institute (Pty) Ltd 
    62. Learn Ability and Training Development t/a LearnAbility 
    63. LERIBE TRAINING SOLUTIONS 
    64. Leronsa Trading Enterprise 
    65. LOKO TRADING PTY LTD 
    66. Longata Consultant 
    67. MAJUBA TVET COLLEGE 
    68. MALITINNE PTY LTD 
    69. MALKAI DEVRANI HOLDINGS PTY LTD 
    70. Marematlou Training Institute 
    71. MASTER PATTERNS BY RONA 
    72. Matatiele Fashion Design Academy (Pty) Ltd 
    73. Matotomana Training & General Trading 
    74. Meals on Wheels Community Services - South Africa 
    75. MGS GCABA CONTRACTING & TRADING CC 
    76. Mnambithi TVET College 
    77. Modiehi Consulting & Projects (Pty) Ltd 
    78. Mposa Institute For Dairy Technology 
    79. Mvelo Consultant 
    80. NDIMASE TRADING 
    81. NDIPHA FASHION DESIGNS 
    82. Nedbank Ltd 
    83. New Heights 1082 
    84. Ngaphakathi Investments 
    85. Ngcebo Consulting (Pty) Ltd 
    86. NOKUSHOM CONSULTANCY & TRADING PTY LTD 
    87. Nolwazi Dev Centre (Pty) Ltd 
    88. NOMAGWANISHE INVESTMENTS 
    89. Northlink College 
    90. Nurture-Nature Resources (Pty) Ltd 
    91. Operational Process Improvements (Pty) Ltd 
    92. Optimi Workplace 
    93. Optimum Capacity (Pty) Ltd 
    94. People Upliftments t/a POPUP Upliftment 
    95. PERENNIAL SERVICES PTY LTD 
    96. PEREZ DEVELOPMENT AND TRAINING 
    97. PINUS TECH TECHNOLOGIES TRADING AND PROJECTS 
    98. POLOKWANE SCHOOL OF FASHION AND DESIGN 
    99. PRACTICE MAKES PERFECT TRAINING CENTRE PRIMARY CO-OPERATIVE LIMITED 
    100. Premier Agric (Pty) Ltd 
    101. Professional Development and Training Institute (Pty) Ltd 
    102. Project Literacy 
    103. Redefined Skills Training & Development (Pty) Ltd 
    104. Related Education Pty Ltd 
    105. Retshetse Training Project 
    106. SBJ Shadikamang Agriculture 
    107. Scientific Roots (Pty) Ltd 
    108. Sea Harvest Corporation (Pty) Ltd 
    109. SEOPOSENGOE TRAINING CONSULTANCY CC 
    110. SHUMISANANI DRESSMAKING SCHOOL 
    111. Silungokuhle (Pty) Ltd 
    112. Silver Falls Scientific 
    113. SINOVUYOLETHU TRADING PTY LTD 
    114. SOUTH AFRICAN FASHION DESIGNER AGENCY CC 
    115. South Cape Public FET College - George Campus 
    116. South West Gauteng Tvet College 
    117. Southern African Institute of Learning (SAIL) 
    118. SPLS CONSULTANTS PTY LTD 
    119. STUDIO 05 HOUSE OF FASHION 
    120. Take Note Trading 205 Cc t/a Khululekani Training Centre 
    121. Tebkhan Investments (Pty) Ltd 
    122. Tembe Service Providers 
    123. THANDEKA VOCATIOL EDUCATION TRUST PTY LTD 
    124. The Brokers Learning Centre 
    125. THE FINISHING COLLEGE PTY LTD 
    126. The Institute of Fashion and Garment Technology (Pty) Ltd 
    127. THUBELIHLE GRADUATE INSTITUTE 
    128. THUTO MFUNDO ADULT EDUCATION CENTRE 
    129. Thuto Skills Development 
    130. Tirhani SkillsTraining Pty Ltd 
    131. TOBAKA LOGISTICS 
    132. TPN Training and Recruitment cc 
    133. Trade Call Investments Apparel (Pty) LTD 
    134. Trade Call Investments Apparel (Pty) Ltd (Mobeni) 
    135. TRADE CALL INVESTMENTS PTY LTD 
    136. Training Answers 
    137. Tripple R Training Provider 
    138. TRUE REFLECTIONS TRAINING AND DEVELOPMENT PTY LTD 
    139. Try Easy Electrical Solutions 
    140. Tshwane North College 
    141. U AND G TRAINING (PTY) LTD 
    142. U AND G TRAINING PTY LTD 
    143. UMBUSO TRAINING SERVICES 
    144. VCK TRAINING AND TECHNICAL SERVICES PTY LTD 
    145. VEB CELE & ASSOCIATES PTY LTD 
    146. VELA VEZI 
    147. Vijay Bhagwan Consultancy and Solutions cc 
    148. VINE APPAREL (PTY)LTD 
    149. Visionary Skill Academy 
    150. VPK BUSINESS VENTURE C C 
    151. WEST COAST COLLEGE FET 
    152. Work Skills Resources cc 
    153. WORKPLACE AND ENTREPRENEURSHIP TALENT SOLUTIONS 
    154. ZA GEAR 
    155. ZERO1ZERO5 GROUP PTY LTD 


    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.