Code: 2.8.1 · Adults
Managing debt
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Understands the potential burden of being indebted
- Kresiliencedaily-life
Recognises the relationship between current debt levels and financial well-being now and in the future
- Kresiliencedaily-lifelarge-majority
Knows how to manage debt repayments
- Kresiliencedaily-lifelarge-majority
Understands why it is important to manage the ratio of (household or individual) debt to income
- Kresiliencedaily-life
Understands the implications on credit scores of failing to pay debts
Skill
What you can do at this level
- Sresiliencedaily-lifelarge-majority
Takes early action to avoid or minimise debt problems
- Sresiliencedaily-lifelarge-majority
Monitors overall credit use
- Sresiliencedaily-lifelarge-majority
Makes an informed decision before accessing additional credit to repay current debts
Attitude
What you can do at this level
- Aresiliencedaily-lifelarge-majority
Motivated to resolve issues related to credit before debt becomes a burden
- Aresiliencedaily-lifelarge-majority
Accepts responsibility for debt and debt management
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.