Scammed!
What should you do if you receive a suspicious message asking you to click a link or send money?
Don’t reply, don’t click, and tell a trusted adult or report it
What is the name of the plan you make before you spend your money?
A budget.
Is clean drinking water a need or a want?
Need!
What do you call the price that tells you how much something costs per 100 grams or per litre? The _____ price.
The Unit Price.
What does “BNPL” stand for when shopping online or in stores?
Buy Now, Pay Later.
You earn $400 and spend $154 on Skittles. How much is left for savings?
$246
Name one common financial product (other than cash) that teens in NZ often use and can easily lead to debt.
Afterpay (or Layby, BNPL or credit card etc).
Red flag: You’re asked to pay a fee to claim a “prize” you never entered. What kind of scam is this?
A lottery scam
If you earn $100 and only spend $70, what is the remaining $30 called?
Savings
Is a mobile phone with basic calling and texting a need or a want?
Need
Before buying something online, what’s one thing you should check to make sure the website is trustworthy?
Customer Reviews.
You buy some shoe laces for $50 using Afterpay and don’t pay it back on time. What will likely happen?
You’ll be charged extra fees or interest.
You earn $25 for mowing lawns. You choose to save it instead of buying fast food. What is this smart money move called?
Delayed Gratification.
What national savings scheme are employed Kiwi under-18s enrolled in that helps with long-term savings?
Kiwisaver
You get a message from a friend, but the spelling is weird and they ask for money. What should you do?
Verify with them through a different method (call or ask in person)
When your income is the same as your expenses, what is this called?
A balanced budget
Is going to the movies every weekend a need or a want?
Want
What does “value for money” mean when you’re shopping?
Getting good quality at a fair price.
Which one is a credit product?
A) A debit card
B) Cash
C) A store card with monthly payments
C) A store card with monthly payments
What is the term for your attitude and beliefs about money, shaped by your upbringing, culture, and life experiences? Your ______ mindset.
Your money mindset.
In NZ, what piece of legislation gives you the right to a refund or replacement if goods turn out faulty? The _____ Guarantees Act.
The Consumer Guarantees Act.
What are two common red flags that a message might be a scam?
Urgent language and asking for personal information
If your weekly income is $200 and your expenses are $130, you want to save 20% of your income, and the rest is for flexible spending — how much do you have left for flexible spending each week?
$30
Explanation:
20% of $200 = $40 (savings)
$130 (expenses) + $40 (savings) = $170
$200 − $170 = $30 for flexible spending
If you buy Nike Air Max 95s instead of using your sibling's hand me down ones that do the same job, is that a need or a want?
Want
You see a “limited time offer” ad online. What technique is being used to try to make you buy quickly?
Urgency or pressure selling
What do we call the extra cost you pay when you borrow money, usually shown as a percentage?
Interest.
You get $15 a week and want to follow the 50/30/20 budgeting rule (Needs/Wants/Savings). How much should go into savings each week?
$3
What is the term for interest calculated on both the original amount and previously earned interest?
Compound Interest
This scam asks for your personal info through a fake email pretending to be your bank. What is it?
Phishing
What is it called when you give up something in order to get something else?
Opportunity cost
You’re budgeting for the week. You’ve included rent, food, and transport. You also want to buy a new hoodie. What category does the hoodie fall into?
Want.
You’re choosing between two 2-litre bottles of juice. One costs $4 and one costs $3.60 but has 10% less juice. Which is better value for money, and how do you know?
The $4 bottle is better value – it gives more juice per dollar (based on unit price)
If you borrow $1000 with an interest rate of 10% per year and make no payments, how much will you owe after one year?
$1100
$1000 loan principal, with $100 interest.
You earn $40 a week. You want to save for a $480 gaming console in 12 weeks and still spend $10 a week on treats. Is your goal achievable? Why? Why not?
Answer:
No
Why:
You need to save $480 ÷ 12 weeks = $40 per week
But you only earn $40 and spend $10 each week
That leaves $30 for saving which is not enough to reach $480 in 12 weeks (30 x 12 = $360).
As of 1 April 2025, what is the adult minimum wage in New Zealand (before tax)?
$23.50 per hour.