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Financial Capability: Managing your money: a learning workbook

Financial Capability: Managing your money: a learning workbook


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About the Book

This new workbook brings together everything students in Year 9 and 10 need to know about money: understand how income, budgets, savings, debt and interest work, and learn how to manage your money safely. Working through the exercises and examples, students will gain a solid foundation from which they can investigate further and make good decisions in their financial journey. The content of the workbook relates to and supports the teaching of Financial Capability Standards at all levels for: - The effect of life stages on personal income - Demonstrate understanding of credit and debt on personal finance - Evaluate options to increase personal income - Producing a budget - Select personal banking products in relation to personal finance - Analyse credit options and select strategies to manage personal finance - Demonstrate understanding of risk and return on investment

Table of Contents:
Author's preface 5 Financial Capability Standards 5 Disclaimer 5 About the author 5 1 Principles for managing your money 6 The financially wise 6 The financially unwise (what not to do!) 7 Starting on the journey of managing your money 7 2 Earning an income 9 Gearing up for the changing world of work 9 The labour market 10 The impact of work on lifestyle 11 Earning an income from working 11 Advantages and disadvantages of different types of income 17 How much people earn from working 19 Income from a government benefit 19 Other facts about income 19 Influences on income 21 Paying tax 25 3 Calculating incomes 30 Calculating take-home pay: terminology 30 Calculating wages 31 Calculating salaries 33 Calculating commissions 36 Calculating royalties 36 Calculating tax 37 4 Keeping financial statements 39 Budgeting as a tool to encourage saving 39 A balanced budget 40 Preparing a monthly budget 40 Budgets: an essential planning tool 43 Statements of affairs 48 Keeping documents 51 Spending analysis 51 5 Money and psychology 53 Values and beliefs and money 53 Advertising targeting emotions 54 Everyone else has one 55 Impulse buying 56 Spaving 57 Retail therapy 58 Buying love and family expectations 59 Resisting the temptation to spend 60 Uncovering your beliefs about money 62 6 Saving to earn an income 65 Income versus expenditure 68 The importance of saving 69 Where to save 70 Bank accounts and deposits that earn interest 70 KiwiSaver 75 Investing in shares 80 Income from investing in a business 83 Money received from an inheritance 84 Property 84 Things to think about when saving and investing 87 7 Banking 91 Services offered by banks 91 Security for your banking 94 8 Protecting what you have 97 Insurance 97 Scams 102 Being a careful consumer 105 9 Borrowing money 111 The costs of borrowing 111 Types of credit 114 Borrowing for the right reasons 116 Pros and cons 116 Obtaining credit 120 The cost of convenience 122 Good debt and bad debt 122 Manageable versus unmanageable debt 125 Tips for managing debt 127 10 Getting money for tertiary study 131 Personal savings 131 Student allowances 132 Scholarships and grants 132 Student loans 132 11 Money habits checklist 135 Interpreting your score 135 The checklist 136 12 Financial literacy case studies 137 Case Study #1. Ruben wants a new mobile phone 137 Case Study #2. Violet is saving for an apartment 138 Case Study #3. Lucas is trying to pay off debts and borrow less in the future 139 Case Study #4. Maria wants to invest in uni and beyond 140 13 Answers to exercises and case studies 141 Useful sites 155

About the Author :
John Duston is a Commerce teacher and administration manager at St Cuthbert's College in Auckland. Prior to teaching, he worked in the commercial world for eight years as a chartered accountant, a payroll clerk, and in sales and marketing. He is passionate about equipping youth and adults with the knowledge and skills to get them started off in the right direction in their money matters. Concerned about the increase in poverty and inequality, John is motivated to provide the appropriate financial literacy tools and knowledge to students before they enter the workforce, and also for adults and new arrivals to New Zealand.


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Product Details
  • ISBN-13: 9780947496524
  • Publisher: Edify Limited
  • Publisher Imprint: Edify Limited
  • No of Pages: 156
  • ISBN-10: 0947496521
  • Publisher Date: 01 May 2018
  • Binding: Paperback
  • Sub Title: Managing your money: a learning workbook


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