Managing My Money - A money management education package
The Managing my Money package deals with the high risk areas of managing personal money, career, goals, and plans. Each of the seven packs have been developed from NQF unit standards and include such topics as:
- Making wise money decision
- Making a family or household budget
- Financial goals and plans
- Knowing how banks can help you
- Understanding income, credit and tax
All of the seven packs are available on the Retirement Commission website.
The packs provide an excellent opportunity for developing general numeracy and literacy skills as well as for financial education. They are suitable for foundation skills programmes, adult and community education, and workplace learning. They can be used separately or linked together into a progressive course. Each of them will support learning aligned with a unit standard. (One of the unit standards is level 1, five are level 2, and one is level 3). The initiative is supported by the Industry Training Federation as suitable for inclusion in the Level 2 qualifications of ITOs.
Each pack contains a Workbook, a Study Guide and a Facilitator’s Manual. The workbooks will provide the evidence necessary for assessment against the standards.
Learners can practise goal setting, planning, and budgeting. They can develop the skills that will help them avoid many of the outcomes of unmanageable debt – stress, absenteeism, family crises, and impaired health. The package provides an ideal programme for managing student loans and other related debt.
For Education Providers the financial management programme meets four key features of quality adult learning: it is relevant, practical, meaningful and purposeful. It provides an excellent foundation for further learning.
For employers and ITOs the package offers an opportunity for employers to protect workers from unmanageable debt and its debilitating consequences. The workplace with a goal of high productivity needs a stable and productive workforce with a high level of personal management skills.
The unit standards selected to underpin this education package all have an application at work – the worker who can handle a domestic budget has a grasp of commercial budgeting and planning.