Award in Personal Finance
It's all about the money!

Training Course: PF02 - Award in Personal Finance - It's all about the money!

Course Description: The purpose of this course is to introduce learners to basic concepts of key terminology in finance, budgeting, and tools relevant to personal and work life. The aim is to develop learners’ knowledge and understanding and awareness on the basics how to plan the management of money.

EQF/ MQF Level: Level 2                                                       ECTS per course: 1

Mode of Delivery: Traditional/ Face to Face                        Total Hours: 25 hours

Mode of Attendance: Part Time                                           Language: English    

Programme Duration: 1 Week

Target Audience: 16-18, 25+,

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Target Group: This course is aimed at learners 1+, it can, however, be taken by any candidate wishing to improve one’s life skills. It is particularly aimed at students, the unemployed and those looking to improve their employability by acquiring basic terminology of finance and budgeting and tools relevant to personal and work life. It also addresses learners’ basic skills in planning the management of money.

Accreditation Category: Further Education Programme

Accredited by: Malta Further & Higher Education Authority. (MFHEA).

Course Structure: This award will focus on teaching how to:


1. Define Key factors of personal Finance and Budgeting.

2. Identify sources of income.

3. Identify expenditure.

4. Outline basic ethical practices in the financial industry.

5. Distinguish between the term's asset and liability.

6. Demonstrate an awareness of the digitisation of money.


7. Manage money.

8. Demonstrate a commitment to organising their personal finances.

9. Keep track of Finances.


10. Describe why and how it is important to plan and prepare budget finances.

11. Practice and Apply financial planning and budgeting.

Discuss the benefits of digitisation of tools used to help with planning and management of money.

Entry Requirements: Have a basic secondary education /school leaving certificate. Be able to communicate both orally and in writing in English.

Outline of Course: The Award consists of 1 mandatory unit which introduces students to key concepts of finance and budgeting. The unit covers five subject areas including: income & expenditure, spending and saving, planning & budgeting and financial transactions and methods of payment and basic elements of ethics.

Competences: -

a) Identify and calculate sources of income and expenditure.

b) Identify spending and methods of saving.

c) Interpret the skills of basic financial planning.

d) Prepare monthly budget.

Knowledge -

a) Sources of income.

b) Types of outgoings and expenditure.

c) Meaning of spending money.

d) Methods of saving.

e) Concept of budgeting.

f) How to plan budget.

g) Basic elements of a business budget.

h) Different types of financial transactions.

i) Concept of credit.

j) Basic elements of ethics to include Integrity, Confidentiality, Objectivity.


The learner will be able to:

a) Calculate income, expenditure, and disposable income.

b) Identify ways on how to save money.

c) identify financial priorities and goals and the steps needed to achieve them.

d) Identify strategies to balance budget.

e) Prepare a personal income and expenditure plan for a month.

f) Explain various ways of making payments. 

Judgment Skills and Critical Abilities

a) Identify and evaluate requisite information on income & expenditure.

b) Demonstrate an understanding of planning & budgeting.

c) Select requisite data and construct a personal monthly budget.

Module-Specific Communication Skills

a) Express his/her personal knowledge of finance & budgeting.

b) Describe benefits and processes for creating a spending plan.

c) Outline how to establish a budget plan.

d) Explain various ways of making payments.

e) Recognize jargon related to cloud-based solutions.

Module-Specific Learner Skills

a) State ways of increasing income.

b) Identify ways of reducing expenses.

c) Compare spending and methods of saving.

d) Develop a budget plan for a one-month period.

e) Distinguish between the advantages of using of digital tools such as excel, vs

handwritten record keeping.

Module-Specific Digital Skills and Competences

a) Use Internet to identify sources of information, advice, or guidance for budgeting.

b) familiarise themselves with solutions such as Microsoft 365 for cloud-based access to Excel, and finance applications for smartphone.

Learning Outcome 1: Outcome Type – Skill

Identify jargon related to income, expenditure, and disposable income. Prepare a personal budget plan, applying the right terminology used in financial jargon, including cloud-based solutions. Explain a range of financial transactions and methods of payment.

Learning Outcome 2: Outcome Type – Knowledge

Be aware of the benefits of being more self-reflective. Understand concepts of income and expenditure. Prepare a personal monthly budget plan. Use range of tools for effective money management.

Assessment: The assessment for this Award consists of two parts:
1) For the formative assessment participants will be assessed on the compilation of a reflective action plan and a written assignment where candidates will have to research and prepare a personal monthly budget outlining their income, expenditure and disposable income (50%)
2)  A one hour written examination consisting of:
Part 1: 10 Multiple choice questions
Part 2: 5 Problem solving questions
Part 3: 1 Mini Case Study.

The maximum mark for the course is set at 100% and to be awarded a certificate, participants will be required to achieve a minimum aggregate of 50% of the maximum mark.

Hours of Total Learning – 25:

Total Contact Hours: 11

Self-Study Hours: 10

Supervised Placement and Practice Hours: 2

Assessment Hours: 2

Course Fee: €150 per person (min 6 persons).

Date of Next Intake: January 2024

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