Code: 3.1.1 · Children and youth
General concept of risk, sources of risk and its impact on personal finance
Descriptors
Knowledge
What you can do at this level
- Kage:6-10
Understands that some life events (i.e. job or business loss, illness, changes in family composition) and decisions can have negative financial consequences for family finances
Skill
What you can do at this level
- Sage:6-10
Identifies different types and sources of risks (e.g. financial, economic, environmental, health, technology)
- Sage:11-15
Considers the potential impact on personal finance of life events and macro-events (war, inflation, political instability)
Attitude
What you can do at this level
- Aage:16-18
Motivated to seek information from reliable sources in order to assess risk and reward
- 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.