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: 

Manage personal finances 
SAQA US ID UNIT STANDARD TITLE
243189  Manage personal finances 
ORIGINATOR
SGB Hygiene & Cleaning Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Cleaning, Domestic, Hiring, Property and Rescue Services 
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
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
12509  Manage personal finances  Level 1  NQF Level 01  8   

PURPOSE OF THE UNIT STANDARD 
Learners credited with this unit standard are able to manage personal finances.

Qualifying learners are able to:
  • Understand personal finance.
  • Plan and prepare a personal budget.
  • Operate a personal bank account. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at ABET Level 3.
  • Mathematical Literacy at ABET Level 3. 
    		•

    UNIT STANDARD RANGE 
  • The scope of this unit standard is for any person who needs to manage his or her personal finances.
  • In the context of this unit standard, personal finances includes, but is not limited to, earnings, other income, inflation, savings, financial planning, taxes, expenditure, statutory and other deductions. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Understand personal finance. 
    OUTCOME RANGE 
    Range includes, but is not limited to, earnings, other income, inflation, savings, financial planning, taxes, expenditure, statutory and other deductions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Personal finance is explained in terms of day to day life. 

    ASSESSMENT CRITERION 2 
    The difference between personal income and expenditure is explained in terms of basic financial principles. 

    ASSESSMENT CRITERION 3 
    The reasons for personal financial planning is explained in terms of maintaining financial stability. 

    SPECIFIC OUTCOME 2 
    Plan and prepare a personal budget. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Sources of income are explained in a personal context. 

    ASSESSMENT CRITERION 2 
    Payslips are interpreted in terms of income, deductions, gross and net pay. 

    ASSESSMENT CRITERION 3 
    The difference between a fixed and a variable expense is explained in terms of basic financial principles. 

    ASSESSMENT CRITERION 4 
    The difference between a need and a want is explained in terms of managing financial stability. 

    ASSESSMENT CRITERION 5 
    Different methods of financing purchases are explained in terms of advantages and disadvantages in accordance with basic financial principles. 
    ASSESSMENT CRITERION RANGE 
    Range of methods of financing purchases includes, but is not limited to, cash, loan, lay-by, terms, credit card.
     

    ASSESSMENT CRITERION 6 
    A personal budget is drawn up to assess current financial status and manage financial stability. 

    ASSESSMENT CRITERION 7 
    The reasons for financial discipline are explained in terms of managing financial stability. 

    SPECIFIC OUTCOME 3 
    Operate a personal bank account. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The different accounts and services available at banks are explained in terms of managing personal finance. 

    ASSESSMENT CRITERION 2 
    Banking documents are completed in accordance with banking requirements. 
    ASSESSMENT CRITERION RANGE 
    Range could include, but is not limited to, account application forms, deposit slips, withdrawal slips, request for statement, cheques.
     

    ASSESSMENT CRITERION 3 
    The reasons for keeping a record of banking transactions is explained in terms of managing personal finance. 

    ASSESSMENT CRITERION 4 
    The reasons for taking care when doing banking transactions and handling cash is explained in terms of safety and managing personal finances. 
    ASSESSMENT CRITERION RANGE 
    Range of banking transactions and handling cash includes, but is not limited to, use of an ATM, cash and till points.
     

    ASSESSMENT CRITERION 5 
    The safe use of Personal Identification Numbers (PINs), passwords and credit/debit cards is explained in terms of good banking principles. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Any institution or provider offering learning that will enable achievement of this unit standard must be accredited by the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be a constituent assessor registered with the relevant ETQA.
  • Both internal and external moderation of the assessment will be quality assured by the relevant ETQA. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Basic financial principles.
  • Good banking principles. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems that might occur during the management of personal finances such as reducing expenditure. 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively whilst managing personal finances. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and evaluate information relating to bank documents. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by recognising the importance of financial planning. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Contribute to the full personal development of each learner and the social and economic development of society at large by:
  • Participating as a responsible citizen in the life of local, national and global communities by implementing sound management of personal finances. 
    		•

    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 
    This unit standard replaces unit standard 12509, " Manage personal finances ", Level 1, 8 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  61755   General Education and Training Certificate: Business Practice  Level 1  NQF Level 01  Reregistered  2023-06-30  SERVICES 
    Core  57937   General Education and Training Certificate: Hygiene and Cleaning  Level 1  NQF Level 01  Reregistered  2023-06-30  SERVICES 
    Core  80786   National Certificate: Home-Care Practices  Level 2  NQF Level 02  Reregistered  2023-06-30  SERVICES 
    Elective  65969   General Education and Training Certificate: Human Settlements Development  Level 1  NQF Level 01  Reregistered  2023-06-30  CETA 
    Elective  66269   General Education and Training Certificate: Lumber Milling  Level 1  NQF Level 01  Reregistered  2023-06-30  FPMSETA 
    Elective  59300   General Education and Training Certificate: Transport  Level 1  NQF Level 01  Reregistered  2023-06-30  TETA 
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2015-06-30  BANKSETA 
    Elective  65789   National Certificate: Construction Plant Operations  Level 2  NQF Level 02  Reregistered  2023-06-30  CETA 
    Elective  58860   National Certificate: Electro-Mechanical Winding  Level 2  NQF Level 02  Reregistered  2023-06-30  MERSETA 
    Elective  66312   National Certificate: Lumber Milling  Level 2  NQF Level 02  Reregistered  2023-06-30  FPMSETA 


    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. Aldabri 106 Institute for Quality Pty Ltd 
    2. Andebe Group 
    3. Aniathu Trading (Pty) Ltd 
    4. Arden School of Management (Pty) Ltd 
    5. Asikhule Business Consulting and Projects 
    6. Assured Vocational Skills Institute (Pty) Ltd 
    7. Ayasaphe Trading cc 
    8. BEULAH AFRICA TRAINING PTY LTD 
    9. Bev Short Training Consultants 
    10. Bold Venture Trading (Pty) Ltd 
    11. CMO Logistics Pty Ltd 
    12. Compuscan Academy 
    13. Cradle Stars Trading Enterprise (Pty) Ltd 
    14. CS Hentiq 1121 
    15. Dionysus Skills Development Initiative 
    16. Duzi-Corp 56 
    17. Ekurhuleni Artisans & Skills Training Centre (Pty) Ltd 
    18. Faithworks Development Consultants (Pty) Ltd 
    19. He and She Driver Training Centre 
    20. I Care Resource Centre 
    21. Impact Financial Training Academy 
    22. Imperial Logistics & Transport A Div Of Imper 
    23. Innovative Shared Services 
    24. INTERACTIVE TUTOR (PTY) LIMITED 
    25. Invest in Yourself 
    26. KannDevelop NPC 
    27. Kingdom Varsity College (Pty) Ltd 
    28. KLM Empowered Human Solution Specialists 
    29. Kwamahlati Training Services cc 
    30. Learning Exchange Pty (Ltd) 
    31. Legal Environment Safety & Health Requirements cc 
    32. Letaba TVET College 
    33. Magos Group 
    34. Makwedeng Training 
    35. Malitinne (Pty) Ltd 
    36. Mlasimbi Catering Primary Co-operative Limited 
    37. Modilete Training 
    38. Mphahle Consultancy (Pty) Ltd 
    39. Nedbank Ltd 
    40. Nolwazi Dev Centre (Pty) Ltd 
    41. Nomzumbe Trading & Projects (Pty) Ltd 
    42. NOSA LOGISTICS PTY LTD 
    43. Nosino Projects (Pty) Ltd 
    44. Nurture-Nature Resources (Pty) Ltd 
    45. Optimi Workplace 
    46. Optimum Capacity (Pty) Ltd 
    47. P and R Development and Training (Pty) Ltd 
    48. Phambile Skills Training (Pty) Ltd 
    49. Premier Agric (Pty) Ltd 
    50. Primeserv Corporate Solutions (Pty) LTD 
    51. Redefined Skills Training & Development (Pty) Ltd 
    52. RJM Investments 
    53. Royal Express 
    54. Siyaloba Training Academy 
    55. Skills For Life 
    56. Southern Charter Financial Services 
    57. Staffing Logistics 
    58. Take Note Trading 227 cc 
    59. TEST 3_18 March 2019 
    60. TEST 4 
    61. The Brokers Learning Centre 
    62. Thunderflex3 Pty (Ltd) 
    63. Tirhani SkillsTraining Pty Ltd 
    64. Training Force 
    65. Ubucubu Home Industries 
    66. Umgano Foundation (NPC) 
    67. World Pace Development & Training Institute (Pty) Ltd 
    68. Worth Financial Education 
    69. Yangantle Trading 
    70. Yenza Umehluko/ Make a Difference 


    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.