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: 

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 
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 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  Reregistered  2021-06-30  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  Reregistered  2021-06-30  UMALUSI 
    Core  57829   General Education and Training Certificate: Grain Handling Processes  Level 1  NQF Level 01  Reregistered  2023-06-30  AgriSETA 
    Core  65969   General Education and Training Certificate: Human Settlements Development  Level 1  NQF Level 01  Reregistered  2023-06-30  CETA 
    Core  49583   General Education and Training Certificate: Poultry Processing  Level 1  NQF Level 01  Reregistered  2023-06-30  AgriSETA 
    Core  49580   General Education and Training Certificate: Poultry Production  Level 1  NQF Level 01  Reregistered  2023-06-30  AgriSETA 
    Core  49082   GETC: Wood Products Processing  Level 1  NQF Level 01  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  Reregistered  2023-06-30  HW SETA 
    Elective  50584   General Education and Training Certificate: Clothing Manufacturing Processes  Level 1  NQF Level 01  Reregistered  2023-06-30  FPMSETA 
    Elective  58026   General Education and Training Certificate: Food and Beverage Handling Processes  Level 1  NQF Level 01  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  Reregistered  2023-06-30  CETA 
    Elective  58268   National Certificate: Lift Installation and Maintenance  Level 2  NQF Level 02  Reregistered  2023-06-30  MERSETA 
    Elective  59389   National Certificate: Nature Conservation: Resource Guardianship  Level 2  NQF Level 02  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. AGB Finance 
    2. Aldabri 106 (Pty) Ltd 
    3. Apparel Component Manufacturers Pty Ltd 
    4. Aranda Learnership College (Pty) Ltd 
    5. Aranda Textile Mills Pty Ltd 
    6. Assured Vocational Skills Institute (Pty) Ltd 
    7. Avad Projects (Pty) Ltd 
    8. Babina Tlou Trading and Projects cc 
    9. Balemi Consulting Pty Ltd 
    10. Beaches Clothing Cc 
    11. Becoz Empire Multi-Choice and Trading Primary Co-operative Limited 
    12. Boland College Head Office 
    13. Bonenhle Investments 
    14. Bosasa Youth Development Centres (Pty) Ltd 
    15. Brightness Fashion and Design Academy cc 
    16. CAPE COLLEGE 
    17. Cape Town Workbased Learning Academy 
    18. Capricorn TVET College 
    19. CAROLINE'S FASHION ENTERPRISE 
    20. Changing Women 
    21. Chep Sa Pty Ltd 
    22. Chippa Training Academy (Pty) Ltd 
    23. Coastal Kzn F.E.T. College - Swinton Road Campus 
    24. College of Sustainable Agriculture 
    25. College of Vocational Studies (Pty) Ltd 
    26. Contra-Lit Pty Ltd 
    27. CRG Group (Pty) Ltd 
    28. D Z D TRADING AND PROJECTS 24 
    29. Dieketseng Training Centre 
    30. Do It Again Academy (Pty) Ltd 
    31. Ebotse Development and Training Centre 
    32. Eddels Shoes Pty Ltd 
    33. Edutel Wholesale & Retail Academy 
    34. Egsibit Training and Development 
    35. Ehlanzeni TVET College 
    36. Eldonai School of Fashion (Pty) Ltd 
    37. Elimofo Trading& Projects 
    38. ENB Training Service(PTY)Ltd 
    39. Enjo Consultants 
    40. ES Training Services (Pty) Ltd 
    41. Esethu Manufacturing, Packaging, Printing & Design (Pty) Ltd 
    42. Eskilz College (Pty) Ltd 
    43. Ezandleni-Ezethu Trading (Pty) Ltd 
    44. Fezile Fashion Skills Academy (Pty) Ltd 
    45. Firstrand Bank - Benmore 
    46. Georgia Clothing CC 
    47. Glicam Trading Enterprise 
    48. Golden Ratio College 
    49. GPR Training Academy (Pty) Ltd 
    50. Green Enviro & Projects (Pty)Ltd 
    51. Guest Resource Services (Pty) Ltd 
    52. Gufferty Consulting 
    53. HLUVUKA TRAINING AND CONSULTING 
    54. Hoseah Training and Manufacturing NPC 
    55. HPS ACADEMY (PTY) LTD 
    56. I Care Resource Centre 
    57. Imbeleko Community Development Projects 
    58. Impangela Trading 
    59. Impela Trading cc 
    60. Injiya Trading and Projects 
    61. INTERMASIKO CC 
    62. Inyapa Vhusiku Consulting Pty Ltd 
    63. Ithemba Lomphakathi Community Organisation 
    64. JED Skills Academy 
    65. Jeppe College of Commerce and Computer Studies 
    66. Jumpstart Training Institute (Pty) Ltd 
    67. Khosi JS Designs (Pty) Ltd 
    68. Khululekani Training Centre 
    69. Khwinana Holdings (Pty) Ltd 
    70. Kudis Designs and Supply 
    71. KWEM Management Solutions 
    72. Leap Projects 
    73. Letaba TVET College 
    74. LFS DESIGNS 
    75. Lilunzo Creations 
    76. LLSM (Pty) Ltd 
    77. Longata Consultant 
    78. Lucky Neo (Pty) Ltd 
    79. Lusama Developmental Agency Projects 
    80. Majuba TVET College 
    81. Makhendama Legacy (Pty) Ltd 
    82. Malkai Devrani Holding (PTY) Ltd 
    83. Masonite Africa Ltd 
    84. Master Patterns by Rona 
    85. Matatiele Fashion Design Academy (Pty) Ltd 
    86. MATHOSIM TRIMMING AND UPHOLSTERY 
    87. Matotomana Training & Gen Trading 
    88. Melenial Media (Pty) Ltd 
    89. MFISA 
    90. MICROMATICA 384 (PTY) LTD 
    91. MMBG Trading & Consulting 
    92. Motheo FET College - Central Office 
    93. Mposa Institute For Dairy Technology 
    94. Mvelo Consultant 
    95. Nchuncheko Holdings (Pty) Ltd 
    96. NDIMASE TRADING 
    97. Nedbank Ltd 
    98. NELLY-SGUEEJE TRADING 
    99. New Business Initiative Management Consultancy 
    100. NEW HEIGHTS 1082 PTYLTD 
    101. Ngaphakathi Investments 
    102. Nguni Shades SA School of Fashion 
    103. Nikwe Trading (Pty) Ltd 
    104. NOFESA cc 
    105. Northlink College - Protea Campus 
    106. Nqoba Lift Consultants T/A Nqoba Training (ORMONDE) (TP) 
    107. NSA MultiServicers cc T/A Riverport SHE Training Academy (GONUBIE) (TP) 
    108. NSJ Agricultural Farming And Multipurpose 
    109. Operational Process Improvements (Pty) Ltd 
    110. OTIS (PTY) LTD (Wadeville)(TP) 
    111. OTP 
    112. Oyama Kulwazi Training & Consulting (Pty) Ltd 
    113. P&R Development and Training (Pty) Ltd 
    114. Phala Projects cc 
    115. Pinus Tech Technologies Trading and Projects 
    116. Positive Thinking Consultants CC 
    117. Qualfurn Training & Projects 
    118. Rally Business Consulting PTY LTD 
    119. Re Tshepeng Holdings 
    120. RUBICON COMMUNICATIONS 
    121. Russel Meaker cc 
    122. Safe Heavens Properties (Pty) Ltd 
    123. Sarva Dharma Ashram 
    124. SBJ Shadikamang Agriculture 
    125. Scientific Roets (Pty) Ltd 
    126. Sea Harvest Corporation (Pty) Ltd 
    127. Sefudi Business Solutions 
    128. Sekhukhune FET College - Central Office 
    129. Sesamkelokuhle Trading Enterprise (Pty) Ltd 
    130. Sew Africa Training Centre 
    131. SHEET PLASTIC MARKETING CC 
    132. Sheet Plastic Pty Ltd 
    133. Silver Falls Scientific 
    134. Siyahumelela Training Academy 
    135. SIYAYA SKILLS INSTITUTE EASTERN CAPE 
    136. Solar Salt 
    137. South Africa Advanced Skills Institute (Pty) Ltd 
    138. South African Advanced Skills Institute 
    139. South Cape Public FET College - George Campus 
    140. Striving Mind Trading & Projects 
    141. SW Skills Wise (Pty) Ltd 
    142. T Mdlatu Trading Enterprise cc 
    143. Talent for Sewing 
    144. ThabileTrade 1054 cc 
    145. THANDEKA VOCATIONAL EDUCATION TRUST (PTY) LTD 
    146. The Brokers Learning Centre (Pty) Ltd 
    147. The Institute of Fashion and Garment Technology (Pty) Ltd 
    148. The Tailor Shop School of Tailoring and Dress Design Training Centre (Pty) Ltd 
    149. Thitha Training and Development Services 
    150. Tidlobi Developmental Activities NPC 
    151. Tirhani SkillsTraining Pty Ltd 
    152. Tiro Training & Skill Centre (Pty) Ltd 
    153. Tlhole Foundation (PTY) LTD 
    154. TOBAKA LOGISTICS 
    155. TPN Training and Recruitment cc 
    156. Tripple R Training Provider 
    157. True Ruby Trading 1021 cc 
    158. Tsiku Consulting (Pty) Ltd 
    159. Ubuhle Bengcebo 
    160. Umbuso Training Services 
    161. Umfolozi TVET College (Richards Bay) 
    162. Uphiwekonke Holdings (Pty) Ltd 
    163. Valoworx 278 
    164. Value at Hand (Pty) Ltd 
    165. VEB CELE & Associates (Pty) Ltd 
    166. Vhembe TVET College 
    167. Vicmat Consultants 
    168. VPK BUSINESS VENTURE C C 
    169. Western Cape Clothing and Textiles Service Centre 
    170. World Pace Development & Training Institute (Pty) Ltd 
    171. ZA GEAR 



    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.