Module 1: Understanding the importance of managing personal finance

Expenditure planning

 

Planning your spending can help you to:

Avoid going into debt

Cost Control
Maintain a good credit rating
Stay debt-free

Provide insurance against loss or illness 

Avoid bankruptcy
Counter the effects of inflation
Set financial targets and goals
Avoid legal action and/or repossession
Manage money to enable the purchase of goods and services
Generate income and savings