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: 

Manage personal finances 
SAQA US ID UNIT STANDARD TITLE
12509  Manage personal finances 
ORIGINATOR
SGB Hygiene & Cleaning Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Personal Care 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 1  NQF Level 01  8 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2006-02-14  2007-02-21  SAQA 0160/05 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-21   2011-02-21  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243189  Manage personal finances  Level 1  NQF Level 01  8   

PURPOSE OF THE UNIT STANDARD 
Learners working towards this standard will be learning towards the full qualification, or will be involved in or working within a cleaning services environment. Qualifying learners are able to manage his/her personal finances. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
LEARNING ASSUMED TO BE IN PLACE

The learner has the speaking and listening ability equal to an ABET Level 1 Com 101 standard and/or any other communication skill that will enable him/her to confirm the knowledge and skills required by this unit standard.

Basic numeracy including the ability to add, subtract, multiply, divide, and work with fractions and percentages. (ABET Numeracy standards 101 &102). 

UNIT STANDARD RANGE 
  • The scope of this unit standard is for any person who earns a salary / wage and who has to plan his/her finances.
  • The level assigned to this unit standard is appropriate because the process is limited in range, very repetitive and familiar, limited generation of new ideas are needed and the person has no responsibility for the learning of others. Problem solving occurs within a pre-defined context.

    RANGE STATEMENTS WHICH REFER TO ASSESSMENT CRITERIA IN THIS UNIT STANDARD

    Assessment can be verbal, written or any other agreed upon method. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Prepare a personal budget. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Reads and correctly interprets his/her pay slip. 

    ASSESSMENT CRITERION 2 
    2. Distinguishes between what s/he needs and what s/he wants when drafting a personal budget. 

    ASSESSMENT CRITERION 3 
    3. Explains the difference between a need and a want. 

    ASSESSMENT CRITERION 4 
    4. Explains how the difference between a need and a want will influence his/her decisions when planning with limited finances. 

    ASSESSMENT CRITERION 5 
    5. Explains how s/he can become poorer because of impulsive buying. 

    ASSESSMENT CRITERION 6 
    6. Explains how s/he can buy things without opening an account or borrowing money, when s/he does not have enough money. 

    ASSESSMENT CRITERION 7 
    7. Is able to indicate the difference between fixed expenses and expenses that change from month to month (variable expenses). 

    ASSESSMENT CRITERION 8 
    8. Controls variable expenses in a way that is best for his/her present and future financial needs. 

    ASSESSMENT CRITERION 9 
    9. Explains the difference between, and gives an example of fixed and variable expenses. 

    ASSESSMENT CRITERION 10 
    10. Explains how variable expenses can be controlled to take care of financial needs. 

    ASSESSMENT CRITERION 11 
    11. Is able to meet all his/her important financial commitments. 

    ASSESSMENT CRITERION 12 
    12. Is able to show how s/he plans his/her finances in such a way that s/he is able to survive from one payday to the next. 

    ASSESSMENT CRITERION 13 
    13. Compares prices (including the price of credit) when making decisions about buying. 

    ASSESSMENT CRITERION 14 
    14. Makes financial decisions keeping in mind that value for money is important and that what is bought serves a real need. 

    ASSESSMENT CRITERION 15 
    15. Plans for future financial needs. 

    ASSESSMENT CRITERION 16 
    16. Makes plans to earn extra money from other sources. 

    ASSESSMENT CRITERION 17 
    17. Plan a realistic budget. 

    ASSESSMENT CRITERION 18 
    18. Plans for unforeseen events in his/her budget. 

    ASSESSMENT CRITERION 19 
    19. Describes how s/he will know if s/he is receiving "value for money." 

    ASSESSMENT CRITERION 20 
    20. Gives an example of a future financial need relevant to his/her personal situation. 

    ASSESSMENT CRITERION 21 
    21. Explains how s/he can plan for future financial needs. 

    ASSESSMENT CRITERION 22 
    22. Explains how s/he can increase personal income. 

    ASSESSMENT CRITERION 23 
    23. Explains how a personal budget can contribute to financial discipline. 

    ASSESSMENT CRITERION 24 
    24. Explains why financial discipline is important. 

    SPECIFIC OUTCOME 2 
    Open a personal bank account. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Asks about the different accounts and services available at banks. 

    ASSESSMENT CRITERION 2 
    2. Chooses the account and/or service that best suit his/her financial needs. 

    ASSESSMENT CRITERION 3 
    3. Takes responsibility for completing an application form to open a bank account. 

    ASSESSMENT CRITERION 4 
    4. Explains the different accounts and services banks can offer him/her. 

    ASSESSMENT CRITERION 5 
    5. Explains why s/he chooses a specific service and/or account. 

    ASSESSMENT CRITERION 6 
    6. Explains why one must shop around for financial services. 

    SPECIFIC OUTCOME 3 
    Improves his/her financial situation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Lists the types of financial problems people can have. 

    ASSESSMENT CRITERION 2 
    2. Lists his/her debts. 

    ASSESSMENT CRITERION 3 
    3. Lists ways of managing these debts in order to improve his/her financial situation. 

    ASSESSMENT CRITERION 4 
    4. Lists ways of improving his/her financial situation once s/he has paid his/her debts. 

    ASSESSMENT CRITERION 5 
    5. Explains how the way in which s/he spends money can cause financial problems. 

    ASSESSMENT CRITERION 6 
    6. Explains how his/her debts could cause financial problems. 

    ASSESSMENT CRITERION 7 
    7. Explains how the way in which s/he manages his/her debts will improve his/her financial situation. 

    ASSESSMENT CRITERION 8 
    8. Explains the benefits of the different options listed in C4. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    1. An assessor accredited by the Services SETA ETQA will assess the competency.
    2. Assessment procedures will be supplied to the ETQA in alignment with NSB requirements.
    3. All assessment activities must be fair so that all candidates can have equal opportunities.
    4. Assessment will be free of gender, ethnic or other bias.
    5. Questions and answers must determine the theoretical knowledge.
    6. Direct observation, preferably in the workplace, or as a second choice in simulated conditions are preferred.
    7. A practical demonstration of competencies is required in this unit standard.
    8. Reporting skills are demonstrated by effective communication that may be verbal or any other agreed upon method.
    9. Internal Moderation
    10. External Moderation 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    On completion the learner can understand and apply knowledge as described in the assessment criteria of all the outcomes. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which response displays that responsible decisions using critical and creative thinking have been made. Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation. 
    		•

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation or community Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation. 
    		•

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively. Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation 
    		•

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentation. Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by recognising that problem solving contexts do not exist in isolation. Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation. 
    		•

    UNIT STANDARD CCFO CONTRIBUTING 
    Contribute to the full personal development of each learner and the social and economic development of the society at large.
  • Participating as a responsible citizen in the life of local, national and global communities
  • Developing entrepreneurial opportunities. Evident in:
  • Prepare a personal budget.
  • Open a personal bank account.
  • Improves his/her financial situation. 
    		•

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243189, which is " Manage personal finances ", Level 1, 8 credits.

    The assessor will need an example of the learner`s payslip. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  50225   General Education and Training Certificate: General Forestry  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FPMSETA 
    Fundamental  35953   General Education and Training Certificate: Transport  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2008-02-06  Was TETA until Last Date for Achievement 
    Fundamental  23853   GETC: Domestic Services  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Fundamental  20173   National Certificate: Hygiene and Cleaning  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2007-02-21  Was SERVICES until Last Date for Achievement 
    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  49411   General Education and Training Certificate: Construction  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Elective  58267   General Education and Training Certificate: Mining and Minerals Processes  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MQA 


    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. ADCORP TECHNICAL TRAINING (PTY) LTD 
    2. ALLOYS HEAD OFFICE 
    3. Arden School of Management (Pty) Ltd 
    4. ASSMANG (PTY) LTD 
    5. BAFOKENG RASIMONE MANAGEMENT SERVICES PTY LTD 
    6. BANA BA THARI MINING TRANING AND DEVELOPMENT ACADEMY 
    7. BARBERTON MINES (PTY) LTD 
    8. Blanket Security and SHEQ Solutions 
    9. Dionysus Skills Development Initiative (Pty) Ltd 
    10. ERGO BUSINESS DEVELOPMENT ACADEMY NPC 
    11. FINSCH DIAMOND MINE(PTY) LTD 
    12. FOSKOR (PTY) LTD 
    13. Furniture World Training Centre 
    14. GLENCORE OPERATIONS SOUTH AFRICA PTY LTD 
    15. HARMONY GOLD MINING CO LTD 
    16. IMPALA PLATINUM SERVICES LTD 
    17. KUMBA IRON ORE (SISHEN) 
    18. Kumba Sishen HRD Centre 
    19. Learncorp 
    20. Legal Environment Safety & Health Requirements cc 
    21. LYNAZY RESOURCES 
    22. Makwedeng Training 
    23. MARULA PLATINUM PTY LTD 
    24. MATHOME TRAINING AND DEVELOPMENT (PTY) LTD 
    25. MODIKWA MINING PERSONNEL SERVICES PTY L TD 
    26. MURRAY & ROBERTS CEMENTATION (PTY)LTD 
    27. NORTHAM PLATINUM LTD 
    28. NOSA LOGISTICS PTY LTD 
    29. PALABORA COPPER (PTY) LTD 
    30. Phambile Skills Training (Pty) Ltd 
    31. PPC Ltd 
    32. PPLE Group Pty Ltd 
    33. Premier Agric (Pty) Ltd 
    34. PROGRESSIVE TRAINING DEVELOPMENT AND PROJECTS (PTY) LTD 
    35. Redefined Skills Training & Development (Pty) Ltd 
    36. RICHARDS BAY MINING PTY LTD 
    37. SIBANYE GOLD ACADEMY PROPRIETARY LIMITED 
    38. SIBANYE RUSTENBURG PLATINUM MINES PTY LTD 
    39. Skills For Life 
    40. South African Forestry Training College 
    41. The Brokers Learning Centre 
    42. THUNGELA OPERATIONS (PTY) LTD 
    43. TWO RIVERS PLATINUM (PTY) LTD 
    44. VPK BUSINESS VENTURE C C 
    45. Yangantle Trading 


    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.