This module will equip the learner with the knowledge, skills and competencies to manage personal finances.
Aims & Objectives
- To provide an understanding of personal and cultural values surrounding money
- To develop budgetary skills in the areas of spending and saving
- To provide an understanding of relevant social welfare systems, payslips and consumer rights
Course Content
- Discuss personal and cultural values surrounding money to include personal money and money belonging to other people or organisations
- Explain a personal budget to include income and expenditure
- Identify basic tax and social welfare deductions on a payslip
- Distinguish between current financial needs and future spending to include bills, necessities, discretionary spending and large expenditures
- Identify common social welfare entitlements
- Describe ways of managing payments, payment methods and costs incurred by various methods
- Knowledge of the agencies that provide support during financial difficulty
- Demonstrate knowledge of consumer rights and the available mechanisms to exercise them
- Prepare a weekly spending plan
- Identify ways of saving money
- Prepare a savings plan
- Describe the economic and social environment and its impact on personal finances
- Compare a limited range of savings and borrowing products from financial institutions
- Compare personal financial experience and habits with those of dependents, partners, family and friends
Please Note:
This course is offered free of charge to social welfare recipients subject to a minimum number of participants.
