Income
Money received from work, government benefits, or investments.
What is income?
The place where people keep their money in a secure account.
What is a bank?
The document you submit when applying for a job, summarizing your experience.
What is a CV?
A retirement savings scheme in New Zealand.
What is KiwiSaver?
When you put money into something expecting it to grow.
What is investing?
The money you take home after tax and deductions.
What is net income?
A way of accessing money from your bank account
You can have: What is online banking? What is an ATM? or What is going to the bank?
PAYE is the abbreviation for this.
Pay As You Earn
The minimum percentage an employer must contribute to your KiwiSaver as of 2025.
What is 3%?
This type of asset is known for being a physical investment.
What is property?
A doctor would have this type of income.
What is a salary?
Money the bank pays you for keeping money in your account.
What is interest?
Leadership is considered this type of skill.
What is an interpersonal skill?
The number of years you must contribute before you can withdraw for your first home.
What is 3 years?
A person who prefers low risk and steady returns would choose this type of fund.
What is a conservative fund?
When interest is earned on both the original amount and the interest already earned.
What is compound interest?
If you deposit $1,000 in a savings account with 5% simple interest, this is how much you have after three years.
What is $1150?
New Zealand has this type of tax system, where the more you earn, the more tax you pay
What is a progressive tax system?
If you earn $50,000 and contribute 3% to KiwiSaver, this is how much you contribute annually.
What is $1500?
This strategy helps reduce risk by spreading investments across different assets.
What is diversification?
This type of income is earned when a worker is paid a percentage of the value of the sales they make, such as real estate agents or car salespeople.
What is commission?
An account that has withdrawal limits, possible interest and low account fees.
What is a savings account?
This government department collects taxes in New Zealand.
What is IRD (Inland Revenue Department)?
One situation (other than retirement or buying a first home) where you may be able to withdraw your KiwiSaver funds early.
What is significant financial hardship, serious illness or you have been overseas for a certain amount of years?
If you invest $2,000 at a 6% annual compound rate, this is its value after five years.
What is about $2,676.45?