Managing your Money

Why do people insure their belongings such as house, pets, and cars?

• Everyone does it

• Incase anything happens to them. They can get some money to replace, fix, or buy a new one of what was lost or damaged

• Because cars are dangerous

• Some people lose lots of things

What is insurance?

• The neighbour

• Someone who looks after your belongings

• a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.

• An agreement between the bank and you

What is a transaction?

• When you get money from your job

• When you buy or sell something

• When you pay someone

What is disposable Income?

• Money you have earnt

• Money you can spend after you have paid for your expenses.

• Money in your kiwisaver

When you take money out of one of your accounts it is called a….

• Charge

• Withdrawal

• Saving

If you earn money for having money in a savings account it is known as….

• Interest

• Credit

• Income

• Expense

Name a reason why people break their term deposits?

• A financial emergency

• They brought a house with a pool

• They like having cash

Name a reason someone might start a term deposit?

• They don't need urgent access to their money and they want to earn interest on it

• They need a place to put their $20 notes

• They like the sound of it

• It is cool

When you put money from your everyday account into your savings account it is called a ….

• Transfer

• Fee

• Charge

Money that you can access at any time is also known as an …… account

• Free

• Everyday/Chequing

• Good