Skillsfirst Level 1 Certificate in Managing Personal Finance (RQF)

Qualification summary

This qualification has been developed for the widest range of learners possible: young people, students and adults, those who are entering further or higher education or pre-employment, recently unemployed or between jobs. It has been designed to meet the needs of learners who wish to gain a knowledge and understanding of the principles of saving and borrowing money, sources of income and expenditure, the need to manage income and expenditure, financial products and services, different forms of pay, how to budget and the use of credit.

The range of modules contained in this qualification allow you to learn, develop and practise the financial skills required for life, without requiring or proving occupational competence. This qualification could also prove invaluable toward your own personal and career development.

This qualification does not require you to have any prior qualifications or levels of prior learning. There is no minimum age requirement for this qualification.

Learners who achieve this qualification could progress onto the:

Skillsfirst Level 1 Award in Introduction to Financial Services (RQF)
Skillsfirst Level 1 Award in Computerised Accounting for Business (RQF)
Skillsfirst Level 1 Award in Payroll for Business (RQF

or similar vocationally-based qualifications

If you feel that you only need a basic understanding of money management then you could chose to do the Skillsfirst Level 1 Award in Managing your own Money (RQF).

Qualification structure

To achieve Skillsfirst Level 1 Certificate in Managing Personal Finance (RQF), you will have to achieve the mandatory modules in Group M.

Guided Learning Hours (GLH) are 103

Total Qualification Time (TQT) is 123

Qualification number	Qualification reference	Qualification review date
MPFC1	603/4260/2	31/03/2024

Group M - mandatory module

RQF mod. no.	Skillsfirst mod. no.	Module ?title	Mod. Level	GLH Value
H/617/4835	MPF1	Introduction to personal finance	1	41
K/617/4836	MPF2	Introduction to the principles of money management	1	28
M/617/4837	MPF3	Understanding the use of credit to borrow money	1	34