Income
Money received from work, government benefits, or investments.
What is income?
The place where people keep their money securely.
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?
A short-term job you do outside of your main career to earn extra money.
What is a side-hustle?
The minimum percentage an employer must contribute to your KiwiSaver.
What is 3%?
This type of asset is known for being a physical investment.
What is property?
Where interest is calculated as a percentage of the total amount invested.
What is compound interest?
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?
If you earn $25 per hour and work 40 hours a week, this is your weekly gross income.
What is $1000?
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?
A doctor would have this type of income.
What is a salary?
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?
A fixed yearly income often paid weekly or fortnightly.
What is a salary?
An account that has withdrawal limits, possible interest and low account fees.
What is a savings account?
This is the organisation you apply through to get a student loan.
What is Study Link?
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 (or serious illness)?
If you invest $2,000 at a 6% annual compound rate, this is its value after five years.
What is about $2,682?