Code: 3.2.1 · Adults
Creating a safety net
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Knows how to create a financial safety net, such as rainy day savings
- Kresiliencedaily-lifelarge-majority
Knows how to calculate how long it will take to build a safety net that could cover three month’s income
- Kresiliencedaily-lifelarge-majority
Understands the role of insurance in managing risk
Skill
What you can do at this level
- Sresiliencedaily-lifelarge-majority
Builds and maintains an adequate financial safety net through savings, insurance and other financial products as necessary
Attitude
What you can do at this level
- Aresiliencedaily-lifelarge-majority
Motivated to create a financial safety net
- Aresiliencedaily-lifelarge-majority
Motivated to purchase or update insurance against adverse events or outcomes with a financial consequence (where relevant)
- 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.