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: 

Develop a personal financial plan 
SAQA US ID UNIT STANDARD TITLE
12429  Develop a personal financial plan 
ORIGINATOR
SGB Manufacturing and Assembly Processes 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 06 - Manufacturing, Engineering and Technology Manufacturing and Assembly 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03  2 
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
2026-06-30   2029-06-30  

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 
The skills, values and knowledge reflected in this unit standard are required by people in the field of manufacturing and engineering.
The learning outcomes in this unit standard also contribute to the exit level outcomes required for various manufacturing and engineering qualifications.
Qualifying learners can demonstrate an understanding of various personal financial planning options. They are able to use this information to develop a personal financial plan. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
This unit standard has designed as part of a progression. It is one of a series of unit standards for life skills in the field of manufacturing and engineering.
The credits allocated to this unit standard assume that a learner has already learned to:
  • Manage personal finance. 
    		•

    UNIT STANDARD RANGE 
    The scope and level of this unit standard is determined by the ranges as indicated under the specific outcomes. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Discuss and explain personal financial planning options. 
    OUTCOME RANGE 
    Personal financial planning options include savings, provision for dependants and retirement, insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. An understanding of personal financial planning options is demonstrated. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 2 
    2. A personal financial plan is developed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 3 
    3. Experiences in developing a personal financial plan are reflected on and the benefits of such a plan discussed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    SPECIFIC OUTCOME 2 
    Evaluate own personal financial situation. 
    OUTCOME RANGE 
    Factors impacting on personal financial situation include income, deductions, expenses, dependants, debt. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. An understanding of personal financial planning options is demonstrated. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 2 
    2. A personal financial plan is developed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 3 
    3. Experiences in developing a personal financial plan are reflected on and the benefits of such a plan discussed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople 
    		•

    SPECIFIC OUTCOME 3 
    Develop a personal financial plan. 
    OUTCOME RANGE 
    Financial plan is developed with the assistance of a financial advisor. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. An understanding of personal financial planning options is demonstrated. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople 
    		•

    ASSESSMENT CRITERION 2 
    2. A personal financial plan is developed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed.

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople 
    		•

    ASSESSMENT CRITERION 3 
    3. Experiences in developing a personal financial plan are reflected on and the benefits of such a plan discussed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    SPECIFIC OUTCOME 4 
    Reflect on learning experiences when developing a personal financial plan and benefits. 
    OUTCOME NOTES 
    Reflect on learning experiences when developing a personal financial plan and benefits to be gained from such a plan. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. An understanding of personal financial planning options is demonstrated. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 2 
    2. A personal financial plan is developed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•

    ASSESSMENT CRITERION 3 
    3. Experiences in developing a personal financial plan are reflected on and the benefits of such a plan discussed. 
    ASSESSMENT CRITERION NOTES 
    Indicators
    1. Explanations are given in a clear manner using appropriate examples from learner`s own experience
    2. Own personal financial situation is evaluated systematically taking all factors into account
    3. Financial plan developed is suited to the personal financial situation of the learner
    Understanding confirmed

    1. Respond to `what if` and `why` questions covering:
  • Purpose of personal financial planning
  • Financial planning options
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan
  • Poor financial planning
  • Hard sell techniques used by salespeople. 
    		•


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • The assessment will be governed by the policies and guidelines of the MERSETA Education and Training Quality Assuror (ETQA) who has jurisdiction over this field of learning.
  • The assessor will (at the very least) be accredited and have a technical qualification in this learning area.
  • The learner can be assessed in the language of his/her choice although if s/he has to report incidents or conditions to some one else, s/he will be assessed on his/her ability to report in the language commonly used in the working environment.
  • The learner will be assessed in the workplace or by simulation, but can submit documents, projects, test results and assignments that are not produced in the workplace or by the RPL process.
  • The learner can be assessed against this unit standard to obtain credits or as part of an integrated assessment for a qualification. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    1. Names & functions of:
  • Pension, provident fund, insurance, retirement annuities

    2. Purpose of:
  • Personal financial planning
  • Developing a personal financial plan

    3. Attributes, descriptions, characteristics & properties:
  • Personal financial planning options
  • Hard sell techniques, cooling off periods
  • Poor financial planning

    4. Cause and effect, implications of:
  • Implications of not planning for the future financially

    5. Procedures and techniques:
  • Techniques for evaluating an individual`s personal financial situation
  • Techniques for developing a personal financial plan

    6. Theory: rules, principles, laws:
  • Applicable financial planning theory

    7. Relationships, systems:
  • Relationship between personal financial planning and a financially comfortable retirement. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems:
  • Related to one`s individual personal financial situation. 
    		•

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information:
  • When evaluating one`s individual personal financial situation. 
    		•

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically:
  • Apply financial planning theory. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems:
  • Explain the relationship between personal financial planning and a financially comfortable retirement. 
    		•

    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  78525   Further Education and Training Certificate: Automotive Repair and Maintenance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Fundamental  48794   National Certificate in Quality Checking of Tyres and Tyre Components  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  49449   National Certificate: Plastics Manufacturing  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    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 
    Fundamental  48798   National Certificate: Tyre and Tyre Component Manufacturing  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  48795   National Certificate: Tyre Assembly  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  23259   National Certificate: Industrial Rubber Manufacturing: Mixing OR Extruding OR Moulding OR Calendaring  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  23256   National Certificate: Mechanical Engineering: Fitting and Machining  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2008-10-22  Was MERSETA until Last Date for Achievement 
    Fundamental  21016   National Certificate: Metal and Engineering Manufacturing Processes  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2011-02-16  Was MERSETA until Last Date for Achievement 
    Fundamental  20890   National Certificate: Plastics Manufacturing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-04-13  Was MERSETA until Last Date for Achievement 
    Fundamental  36153   National Certificate: Polymer Composite Fabrication  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  24218   National Certificate: Thermoplastic Fabrication  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Fundamental  24216   National Certificate: Welding Application and Practice  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2006-12-03  MERSETA 
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2015-06-30  BANKSETA 
    Elective  58882   National Certificate: Fluid Power  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  66449   National Certificate: Foundry Operations  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2013-11-07  MERSETA 
    Elective  64829   National Certificate: Lifting Machine Operations  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  TETA 
    Elective  67609   National Certificate: Mechatronics  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  22771   National Certificate: Mechatronics  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2009-07-29  Was MERSETA until Last Date for Achievement 
    Elective  58719   National Certificate: Metals Processing  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  58539   Further Education and Training Certificate: Automotive Repair and Maintenance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2009-02-18  Was MERSETA until Last Date for Achievement 
    Elective  64411   Further Education and Training Certificate: Automotive Spray Painting  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  58861   Further Education and Training Certificate: Electro-Mechanical Winding  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  50021   Further Education and Training Certificate: Inspection and Assessment (Non-Metallics)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  59709   Further Education and Training Certificate: Mechanical Engineering: Fitting  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  91925   Further Education and Training Certificate: Mechanical Engineering: Machining and Tooling  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  64209   Further Education and Training Certificate: Metals Production  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  49403   Further Education and Training Certificate: Steel Tube and Pipe Manufacturing (Seamless Hot-Finished OR Welded OR Cold-Formed)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2012-06-30  MERSETA 
    Elective  21006   National Certificate: Automotive Component Manufacturing and Assembly  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2008-11-01  Was MERSETA until Last Date for Achievement 
    Elective  22860   National Certificate: Autotronics  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2012-06-30  MERSETA 
    Elective  22871   National Certificate: Engineering Fabrication (light or heavy)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2007-08-16  MERSETA 
    Elective  23275   National Certificate: Mechanical Engineering: Fitting  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2008-06-25  MERSETA 
    Elective  23279   National Certificate: Mechanical Engineering: Machining  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2008-10-22  Was MERSETA until Last Date for Achievement 
    Elective  23281   National Certificate: Mechanical Engineering: Tooling Manufacture  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2008-10-22  Was MERSETA until Last Date for Achievement 
    Elective  21013   National Certificate: Power and Telecommunication Cable Manufacturing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 


    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. Excellect 209 (PTY) LTD 
    2. Excellect 209 PTY LTD 
    3. METSKILL PTY LTD 
    4. Nedbank 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.