Personal finances are one of the household's material resources. Personal financial status is determined by the household's disposable income. The acquirement of personal financial skills makes possible the rational use of one's own resources to balance income and expenditure.
Economic skills are the ability to transact responsibly in accordance with one’s personal financial situation and the ability to assess and source information concerning the management of the domestic environment. Systems thinking and foresight are also key elements of economic skills.
Learners use resources appropriately and manage personal finances in an entrepreneurial manner. They deal with and take responsibility for their personal financial situation, and understand the link between consumption and the economy as a whole. Learners acquire, evaluate and use information on the micro and macro economy from various sources.