After a completion of this course attendees will able to:
- Understanding the essence of Personal Finance Management
- Understanding Financial Products
- Budgeting Basics: Income VS Expenses
- How to Create a new Budget Every Month
- How to Create a Plan to Pay Off Debt
- What is Interest?
- When to take out a Personal Loan
- Creating a Personal Financial Planning
Who should attend?
If possible more than 1 person from an organisation so
that they can share the best practices and current
situations in personal finance management, all participants
to work in groups
Course Outline
Learning Outcome 1
Understanding the essence of Personal Finance Management:
- Financial Planning versus Budgeting
- Why should I manage my finances?
- Understand what debt means.
- Understand the true cost of debt.
- Debt legislation explained.
- What is debt counseling and how can I apply for it?
- The National Credit Act (NCA) Explained
- What does a garnishee order mean?
- Your Credit Score unpacked.
Learning Outcome 2
Understanding Financial Products:
- Understanding Bank Statements and Bank Charges
- Be careful with your credit card.
- Understanding lay-by’s
- How to apply for a home loan
- How to apply for vehicle finance
- Stokvel explained.
- Micro-lending explained.
Learning Outcome 3
Budgeting Basics: Income VS Expenses
- Income
- Expenses
Learning outcome 4
How to Create a new Budget Every Month: A Detailed Step-by-Step Guide
How to Create a Plan to Pay Off Debt:
- Dangers of debt consolidation
Learning Unit 5
What is Interest?
- Earning Interest
- Paying Interest
Learning Unit 6
When to take out a Personal Loan:
Creating a Personal Financial Plan:
- Determine Your Current Financial Situation
- Develop Your Financial Goals
- Identify Alternative Courses of Action
- Evaluate Your Alternatives
- Create and Implement Your Financial Plan
- Review and Revise your Plan
