Banking
What is money put into your account called?
A deposit
What is a budget?
A plan for how you will earn, spend and save money
What do we call money you receive from working?
Wages or salary
Which type of card normally uses money you already have in your bank account: debit or credit?
Debit
Is Mrs Setterfield have a girl or a boy?
Girl
A withdrawal
What is money coming into your budget called?
Income
What document is commonly used when applying for a job to show your skills and experience?
A CV
Which type of card allows you to borrow money from the card provider?
Credit
What colour is the NZ $20 note?
Green
What is money a bank pays you for keeping money in a savings account?
Interest
What is money going out of your budget called?
An expense
Why is your take-home pay usually less than your advertised salary?
Because tax and other deductions are taken from your gross income
What is one major risk of using credit?
You can build up debt and have to pay it back, often with interest or fees
What animal appears on the New Zealand $5 note?
Yellow-eyed penguin (hoiho)
What happens to your savings when you earn compound interest?
You earn interest on your original money plus previous interest
If you earn $500 and spend $420, how much money is left?
$80
Why might someone choose a different KiwiSaver fund?
Different funds have different investment choices, risks and potential returns
You buy something for $500 using credit but only repay $50 each month. Why might the purchase eventually cost more than $500?
Interest and fees may be added to the debt
How many kids does Ms Fitchett have?
3