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  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  Reregistered  2023-06-30  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. 1 Classie Africa 
    2. A Z Community Services 
    3. African Apex Apparel (Pty) Ltd 
    4. AL Development Services cc 
    5. Amasiko Trading Enterprise 
    6. Aranda Textile Mills Pty Ltd 
    7. Arden School of Management (Pty) Ltd 
    8. Assured Vocational Skills Institute (Pty) Ltd 
    9. Aubrey Nyiko Business Enterprise cc 
    10. Avad Projects (Pty) Ltd 
    11. Ayasaphe Trading cc 
    12. Balemi Consulting Pty Ltd 
    13. Better beginning trading and projects pty ltd 
    14. Bokamoso Competence (Pty) Ltd 
    15. BOLAND COLLEGE 
    16. Bonenhle Investments 
    17. Breakeven 59(PTY) Ltd 
    18. BT Group of Companies (Pty) Ltd 
    19. Btech 
    20. Camblish Training Institute (Pty) Ltd 
    21. CANDYS UNLIMITED COLLECTION Pty Ltd 
    22. Cape Business & Engineering College (Pty) Ltd 
    23. Cape Town Workbased Learning Academy 
    24. Capricorn TVET College 
    25. Cedars Academy for Technical 
    26. Changing Women 
    27. Circleway College 
    28. College of Cape Town - Athlone Campus 
    29. College of Sustainable Agriculture 
    30. College of Vocational Studies (Pty) Ltd 
    31. Contra-Lit Pty Ltd 
    32. Cre8tion Projects 6 PTY LTD 
    33. CRK Designs (Pty) Ltd 
    34. Cumlaude Institute (PTY) Ltd 
    35. Dinaka Business Management & Consulting 
    36. Dlamini The Siba PTY LTD 
    37. Do It Again Academy (Pty) Ltd 
    38. Dr M Investments 
    39. Duzi-Corp 56 
    40. Edutel Wholesale & Retail Academy 
    41. Ekurhuleni Artisans & Skills Training Centre (Pty) Ltd 
    42. Elimofo Trading& Projects 
    43. Enjo Consultants (Pty) Ltd 
    44. Esayidi FET College - Central Office 
    45. Exodus Agri Academy Pty Ltd 
    46. Faithworks Development Consultants (Pty) Ltd 
    47. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    48. Fezile Fashion Skills Academy (Pty) Ltd 
    49. Flavious Mareka TVET College 
    50. Fundakahle Multi-Purpose Co-operative Limited 
    51. Furniture World Training Centre 
    52. Future Discovery Training Academy CC 
    53. Future Dynamics Learning 
    54. Ga Lechuti Transformational Talks (Pty) Ltd 
    55. Gauteng City College 
    56. Golden Ratio College 
    57. GPR Training Academy (Pty) Ltd 
    58. Grandstar Projects 
    59. Green Earth Training & Development (Pty) Ltd 
    60. Greenrim Training 
    61. GUEST RESOURCE SERVICES 
    62. Hlolo Entle Training and Projects (Pty) Ltd 
    63. HLUVUKA TRAINING AND CONSULTING 
    64. Honey Cube Projects & Services (Pty) Ltd 
    65. Hoseah Training and Manufacturing NPC 
    66. I Care Resource Centre 
    67. Ikamvelihle Youth Development (Pty) Ltd 
    68. Imara Umbono Incorporated (Pty) Ltd 
    69. Imbewu Development Institute (Pty) Ltd 
    70. Impela Trading cc 
    71. In Time Industrial (Pty) Ltd 
    72. Inafrica General Trading Pty LTD 
    73. Inter-Coastal Business & Property Services cc 
    74. INTERMASIKO CC 
    75. Intuthuko Yesizwe Community Organisation 
    76. Inyathi Visions 
    77. Ithemba Lomphakathi Community Organisation 
    78. Izintombizekhethelo (Pty) Ltd 
    79. kagisho Business Concepts (Pty) Ltd 
    80. Kelmik Training Centre (Pty) Ltd 
    81. Khululekani Training Centre 
    82. Kingdom Varsity College (Pty) Ltd 
    83. Kingsbury International College (SA) 
    84. Knoop Academy NPC 
    85. Kotton Wear (Pty) Ltd 
    86. La Gratitude Academy 
    87. Leap Projects 
    88. Learn Ability and Training Development t/a LearnAbility 
    89. Leronsa Trading Enterprise 
    90. LFS DESIGNS 
    91. LLSM (Pty) Ltd 
    92. Longata Consultant 
    93. Lucky Neo (Pty) Ltd 
    94. Maluti TVET College 
    95. Marematlou Training Institute 
    96. Matatiele Fashion Design Academy (Pty) Ltd 
    97. Matotomana Training & General Trading 
    98. Meals on Wheels Community Services - South Africa 
    99. Mlasimbi Catering Primary Co-operative Limited 
    100. Mnambithi TVET College 
    101. Modiehi Consulting & Projects (Pty) Ltd 
    102. Mphahle Consultancy (Pty) Ltd 
    103. Mposa Institute For Dairy Technology 
    104. Mvelo Consultant 
    105. Mwanga Training & Consulting (Pty) Ltd 
    106. NDIMASE TRADING 
    107. Nedbank Ltd 
    108. New Heights 1082 
    109. Ngaphakathi Investments 
    110. Ngcebo Consulting (Pty) Ltd 
    111. Nhlanzi Investments (Pty) Ltd 
    112. Nolwazi Dev Centre (Pty) Ltd 
    113. Nomzumbe Trading & Projects (Pty) Ltd 
    114. Northlink College 
    115. Nosino Projects (Pty) Ltd 
    116. Ntuthuko Projects & Services 
    117. Nurture-Nature Resources (Pty) Ltd 
    118. Operational Process Improvements (Pty) Ltd 
    119. Optimi Workplace 
    120. Optimum Capacity (Pty) Ltd 
    121. OTIS (PTY) LTD (Wadeville)(TP) 
    122. Pectosource (Pty) Ltd 
    123. Penny Lane Fashion School (Pty) Ltd 
    124. People Upliftments t/a POPUP Upliftment 
    125. Positive Thinking Consultants CC 
    126. Practice Makes Perfect Training Centre 
    127. Premier Agric (Pty) Ltd 
    128. Professional Development and Training Institute (Pty) Ltd 
    129. Progressive School of Business and Engineering (Pty) 
    130. Project Literacy 
    131. Qualfurn Training & Projects 
    132. Re Tshepeng Holdings 
    133. Redefined Skills Training & Development (Pty) Ltd 
    134. Retshetse Training Project 
    135. RI A LINDA SECURITY SOLUTIONS 
    136. SA COLLEGE FOR TOURISM 
    137. SBJ Shadikamang Agriculture 
    138. Scientific Roots (Pty) Ltd 
    139. Sedibeng TVET College 
    140. Sekhukhune FET College - Central Office 
    141. SEOPOSENGOE TRAINING CONSULTANCY CC 
    142. Sew Africa Training Centre 
    143. Shirs Vision Compleadev 
    144. Sibonguthando Projects And Services Cc 
    145. Silalele Consultants (Pty) Ltd 
    146. Silungokuhle (Pty) Ltd 
    147. Silver Falls Scientific 
    148. Sinovuyolethu Trading (Pty) Ltd 
    149. South Cape Public FET College - George Campus 
    150. South West Gauteng Tvet College 
    151. Southern African Institute of Learning (SAIL) 
    152. STUDIO 05 HOUSE OF FASHION 
    153. Talent for Sewing 
    154. Tebkhan Investments (Pty) Ltd 
    155. Tembe Service Providers 
    156. ThabileTrade 1054 cc 
    157. The Brokers Learning Centre 
    158. The Finishing College (Pty) Ltd 
    159. The Institute of Fashion and Garment Technology (Pty) Ltd 
    160. Thitha Training and Development Services 
    161. Thuto Skills Development 
    162. Tirhani SkillsTraining Pty Ltd 
    163. Tlhole Foundation (PTY) LTD 
    164. TPN Training and Recruitment cc 
    165. Trade Call Investments Apparel (Pty) LTD 
    166. Trade Call Investments Apparel (Pty) Ltd (Mobeni) 
    167. Training Answers 
    168. Tripple R Training Provider 
    169. Try Easy Electrical Solutions 
    170. Tshwane North College 
    171. U AND G TRAINING (PTY) LTD 
    172. Ubucubu Home Industries 
    173. Ubuhle Bengcebo 
    174. Umfolozi TVET College (Richards Bay) 
    175. Umlozi Skills Centre (Pty) Ltd 
    176. Umnotho We Afrika Foundation NPC 
    177. Umunotho Wealth Management Pty Ltd 
    178. Uyabusisa Arts and Development Pty Ltd 
    179. Value at Hand (Pty) Ltd 
    180. VEB CELE & Associates (Pty) Ltd 
    181. Vijay Bhagwan Consultancy and Solutions cc 
    182. VINE APPAREL (PTY)LTD 
    183. Visionary Skill Academy 
    184. VPK BUSINESS VENTURE C C 
    185. Vuliqgondo Research & Manufacturing Centre 
    186. Western Cape Clothing and Textiles Service Centre 
    187. Wilratty Consultants (Pty) Ltd 
    188. Womens Leadership & Empowerment Initiative 
    189. Work Skills Resources cc 
    190. World Pace Development & Training Institute (Pty) Ltd 
    191. World Pace Development and Training Institute 
    192. Zoluhle Financial Wellness 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.