FNSFLT212

Application

This unit describes the skills and knowledge required to develop and implement a savings plan to achieve identified goals. It has wide application and may be used in workplaces, schools, adult and community learning organisations or registered training organisations to build the financial literacy of learners. The unit may also be used as part of pre-vocational or new apprenticeship programs, or as part of services provided by counselling or advisory organisations.

The unit applies to those who use new ideas and techniques to develop personal financial literacy skills.

Unit mapping information

Supersedes and is equivalent to FNSFLT202 Develop and use a savings plan.

Licensing, legislative, regulatory or certification requirements

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Financial literacy

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

Assessment conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

• office equipment, technology, software and consumables
• information about the budgeting process, current interest rates, savings products and other required resources

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.