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. Beaches Clothing Cc 
    10. Becoz Empire Multi-Choice and Trading Primary Co-operative Limited 
    11. Boland College Head Office 
    12. Bonenhle Investments 
    13. Bosasa Youth Development Centres (Pty) Ltd 
    14. Brightness Fashion and Design Academy cc 
    15. Cape Town Workbased Learning Academy 
    16. Capricorn FET College - Central Office 
    17. Capricorn TVET College 
    18. CAROLINE'S FASHION ENTERPRISE 
    19. Changing Women 
    20. Chep Sa Pty Ltd 
    21. Chippa Training Academy (Pty) Ltd 
    22. Coastal Kzn F.E.T. College - Swinton Road Campus 
    23. CRG Group (Pty) Ltd 
    24. CRK Designs (Pty) Ltd 
    25. D Z D TRADING AND PROJECTS 24 
    26. Dieketseng Training Centre 
    27. Do It Again Academy (Pty) Ltd 
    28. Ebotse Development and Training Centre 
    29. Eddels Shoes Pty Ltd 
    30. Edutel Wholesale & Retail Academy 
    31. Egsibit Training and Development 
    32. Ehlanzeni TVET College 
    33. Eldonai School of Fashion (Pty) Ltd 
    34. Elimofo Trading& Projects 
    35. ENB Training Service(PTY)Ltd 
    36. Enjo Consultants 
    37. ES Training Services (Pty) Ltd 
    38. Esethu Manufacturing, Packaging, Printing & Design (Pty) Ltd 
    39. Eskilz College (Pty) Ltd 
    40. Ezandleni-Ezethu Trading (Pty) Ltd 
    41. Fezile Fashion Skills Academy (Pty) Ltd 
    42. Firstrand Bank - Benmore 
    43. Georgia Clothing CC 
    44. Glicam Trading Enterprise 
    45. Golden Ratio College (Pty) Ltd 
    46. GPR Training Academy (Pty) Ltd 
    47. Green Enviro & Projects (Pty)Ltd 
    48. Guest Resource Services (Pty) Ltd 
    49. Gufferty Consulting 
    50. HLUVUKA TRAINING AND CONSULTING 
    51. Hoseah Training and Manufacturing NPC 
    52. HPS ACADEMY (PTY) LTD 
    53. I Care Resource Centre 
    54. Ideal Method Trading & Projects 
    55. Imbeleko Community Development Projects 
    56. Impangela Trading 
    57. Impela Trading cc 
    58. Injiya Trading and Projects 
    59. INTERMASIKO CC 
    60. Inyapa Vhusiku Consulting Pty Ltd 
    61. Ithemba Lomphakathi Community Organisation 
    62. Jeppe College of Commerce and Computer Studies 
    63. Jumpstart Training Institute (Pty) Ltd 
    64. Khosi JS Designs (Pty) Ltd 
    65. Khwinana Holdings (Pty) Ltd 
    66. Kudis Designs and Supply 
    67. KWEM Management Solutions 
    68. Letaba TVET College 
    69. LFS DESIGNS 
    70. Lilunzo Creations 
    71. LLSM (Pty) Ltd 
    72. Longata Consultant 
    73. Lucky Neo (Pty) Ltd 
    74. Lukhele Training and Development Solutions (Pty) Ltd 
    75. Lusama Developmental Agency Projects 
    76. Majuba TVET College 
    77. Makhendama Legacy (Pty) Ltd 
    78. Malkai Devrani Holding (PTY) Ltd 
    79. Mangalisa Group (Pty) Ltd 
    80. MARKET DEMAND TRADING 597 PTY LTD 
    81. Masonite Africa Ltd 
    82. Master Patterns by Rona 
    83. Matatiele Fashion Design Academy (Pty) Ltd 
    84. MATHOSIM TRIMMING AND UPHOLSTERY 
    85. Melenial Media (Pty) Ltd 
    86. MFISA 
    87. MICROMATICA 384 (PTY) LTD 
    88. MMBG Trading & Consulting 
    89. Mnambithi TVET College 
    90. Motheo FET College - Central Office 
    91. Nchuncheko Holdings (Pty) Ltd 
    92. NDIMASE TRADING 
    93. Nedbank Ltd 
    94. NELLY-SGUEEJE TRADING 
    95. New Business Initiative Management Consultancy 
    96. Ngaphakathi Investments 
    97. Nguni Shades SA School of Fashion 
    98. Nikwe Trading (Pty) Ltd 
    99. NOFESA cc 
    100. Northlink College - Protea Campus 
    101. Nqoba Lift Consultants T/A Nqoba Training (ORMONDE) (TP) 
    102. NSA MultiServicers cc T/A Riverport SHE Training Academy (GONUBIE) (TP) 
    103. NSJ Agricultural Farming And Multipurpose 
    104. Operational Process Improvements (Pty) Ltd 
    105. OTIS (PTY) LTD (Wadeville)(TP) 
    106. OTP 
    107. Oyama Kulwazi Training & Consulting (Pty) Ltd 
    108. P&R Development and Training (Pty) Ltd 
    109. Phala Projects cc 
    110. Pinus Tech Technologies Trading and Projects 
    111. Positive Thinking Consultants CC 
    112. Qualfurn Training & Projects 
    113. Rally Business Consulting PTY LTD 
    114. Re Tshepeng Holdings 
    115. REFSET BUSINESS ENTERPRISES 
    116. RUBICON COMMUNICATIONS 
    117. Russel Meaker cc 
    118. Safe Heavens Properties (Pty) Ltd 
    119. Sarva Dharma Ashram 
    120. Sea Harvest Corporation (Pty) Ltd 
    121. Sefudi Business Solutions 
    122. Sekhukhune FET College - Central Office 
    123. Sesamkelokuhle Trading Enterprise (Pty) Ltd 
    124. Sew Africa Training Centre 
    125. SEWAFRICA Marketing (Pty) Ltd 
    126. SHEET PLASTIC MARKETING CC 
    127. Sheet Plastic Pty Ltd 
    128. Siyahumelela Training Academy 
    129. Solar Salt 
    130. South Africa Advanced Skills Institute (Pty) Ltd 
    131. South African Advanced Skills Institute 
    132. South Cape Public FET College - George Campus 
    133. Striving Mind Trading & Projects 
    134. STUDIO 05 HOUSE OF FASHION 
    135. SW Skills Wise (Pty) Ltd 
    136. T Mdlatu Trading Enterprise cc 
    137. Talent for Sewing 
    138. ThabileTrade 1054 cc 
    139. THANDEKA VOCATIONAL EDUCATION TRUST (PTY) LTD 
    140. The Brokers Learning Centre (Pty) Ltd 
    141. The Institute of Fashion and Garment Technology (Pty) Ltd 
    142. The Tailor Shop School of Tailoring and Dress Design Training Centre (Pty) Ltd 
    143. Thitha Training and Development Services 
    144. Tidlobi Developmental Activities NPC 
    145. Tirhani SkillsTraining Pty Ltd 
    146. Tiro Training & Skill Centre (Pty) Ltd 
    147. Tlhole Foundation (PTY) LTD 
    148. TOBAKA LOGISTICS 
    149. True Ruby Trading 1021 cc 
    150. Tshwane North College 
    151. Tsiku Consulting (Pty) Ltd 
    152. TV Training (Pty) Ltd 
    153. Ubuhle Bengcebo 
    154. Umbuso Training Services 
    155. Umfolozi TVET College (Richards Bay) 
    156. Uphiwekonke Holdings (Pty) Ltd 
    157. Valoworx 278 
    158. Value at Hand (Pty) Ltd 
    159. VEB CELE & Associates (Pty) Ltd 
    160. Vhembe TVET College 
    161. Vicmat Consultants 
    162. VPK BUSINESS VENTURE C C 
    163. Waterberg FET College - Central Office 
    164. Western Cape Clothing and Textiles Service Centre 
    165. World Pace Development & Training Institute (Pty) Ltd 
    166. 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.