General Knowledge
What is the Australian government body that collects taxes and helps manage your money when you earn it.
The Australian Taxation Office (ATO)
Money you set aside for things you might need later, like unexpected repairs or an emergency is called?
Emergency fund / Rainy-day fund
A number that shows how good you are at borrowing money and paying it back, is called?
Credit score
If you want to save $600 in a year, how much should you save each month?
$50
This is a way to pay for things on your phone, like groceries or transport, without using cash or cards
Tap and Pay / Samsung Pay / Google Pay / Apple Pay
What is the official money used in Australia.
Australian Dollar (AUD)
In Australia, this is where your money goes when you’re saving for retirement, and it grows over time
Super / Superannuation
This is a plastic card that lets you borrow money from the bank to pay for things now and pay it back later
Credit Card
If you want to buy a phone for $1,000 and you save $200 each month, how many months will it take to save enough
5 months
This is a payment system that lets you buy now and pay later, sometimes with no interest if you pay on time
Afterpay
This is the money the government gives to people when they don’t have a job but are looking for work.
JobSeeker
A plan where you decide in advance how much money to spend and save each month is called?
A Budget
Give an example of a loan where you borrow money and pay it off slowly over time
Home Loan, Mortgage / Car Loan
Emma wants to buy a new bike for $600. She has $200 saved. If she saves $100 each month, how many months will it take her to save enough for the bike
4 months
To protect the money in your bank account, you should never share THIS!
You Pin / Password
This document tells the government how much you earned and how much tax you should pay.
A tax return
For the 50/30/20 budget rule, what does the 20% represent
Saving/Investing
What is it called when you owe more money than you can pay back, and can cause problems
Debt
Tom spends $60 a week on transport. If he works for 5 weeks, how much will he spend in total on transport during this time
$300
This is a service that lets you send money directly to other people or businesses from your bank account, even using just their phone number
Pay ID
This is a place where people keep their money safe and can borrow money from.
A Bank
A type of savings account that allows you to earn interest while keeping your money easily accessible is called?
A High-Interest Savings Account
A legal process where people or businesses unable to pay their debts may have to sell assets to clear their debts and get a fresh start is called
Bankruptcy
If you borrow $1,000 and have to pay 10% interest, how much do you owe at the end of the year
$1100
A person or company that owns and rents out property to tenants is also called?
Landlord