Manage My personal finance | Fuel Online Training

Personal Stability

Manage your Personal Finances

FUEL’s ‘Managing your Personal Finances course is designed to provide comprehensive training on various aspects of personal financial management. This course encompasses 10 modules, each focusing on a different aspect of financial literacy and skills necessary for effective money management.

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Here’s what you’ll learn:

Understanding Personal Finances - Personal finance is explained in terms of day-to-day life. The difference between personal income and expenditure is explained in terms of basic financial principles. The concept of impulse buying is explained.
The Importance of Financial Planning - The reasons for personal financial planning are explained in terms of maintaining financial stability. The concepts of self-discipline and budgeting are introduced.
Income Sources & Payslips - Sources of income are explained in a personal context. Payslips are interpreted in terms of income, deductions, gross and net pay.
Needs, Wants & Cost Types - The difference between a fixed and a variable expense is explained in terms of basic financial principles. The difference between a need and a want is explained in terms of managing financial stability.
Ways of Financing Your Purchases - The advantages and disadvantages of the following sources of finance are explained in accordance with basic financial principles: personal loan versus overdraft, mortgage bond loan, vehicle financing and credit card.
Understanding Budgets - The concept of a budget is explained in terms of day-to-day life. The benefits of working to a budget are explained. The concepts of savings and incidentals are unpacked in the context of a budget.
Preparing a Budget - The steps to draw up one’s personal budget are explained.
Making Your Budget Work for You - The reasons for being financially disciplined are explained in terms of managing financial stability through a real-life example.
Understanding Bank Account Types - The difference between transaction and savings accounts is explained. The difference between Debit and Credit cards is explained. ATMs are explained and basic safety tips on withdrawing at ATMs are shared.
Opening and Using a Bank Account - The documents required to open a bank account are listed. The structure of a standard individual deposit account application form is explained. A deposit slip is explained and the steps to complete it are listed.