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$ tartNow

$ tartNow. A 10 hour Financial Literacy Programme for young people on the Youth Payment and Young Parent Payment Scheme. Delivered by New Zealand Federation of Family Budgeting Services. Objectives. What are banks for? Have a look at accounts and fees

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$ tartNow

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  1. $tartNow A 10 hour Financial Literacy Programme for young people on the Youth Payment and Young Parent Payment Scheme Delivered by New Zealand Federation of Family Budgeting Services

  2. Objectives • What are banks for? • Have a look at accounts and fees • What are Automatic Payments and Direct Debits • Why we need to keep checking our spending plan • What is the point of saving • Why should I have an emergency fund if I can’t afford it

  3. Homework Reporting - Banks • What accounts do you offer under 18yr olds? • What fees are there on those accounts? • What would be the best account for me in my position? • What help can you give me to save money on my limited budget?

  4. Automatic Payment vs Direct Debit Automatic Payment - You send money to them Direct Debit - They take money from you

  5. Sticking to the Spending Plan

  6. Information is Power • Knowing where your money goes puts YOU in control.

  7. avings • Pay yourself first • How to save • What to save for

  8. avings • Set savings goals • Use your incentive payments for this? • Be realistic about how much you can save • Open a separate savings account • Set up an Automatic Payment • Start small and early • Get into the savings habit

  9. Emergency Fund What could go wrong? • 90 day trial • Redundancy • Sickness • Getting fired Aim to put 2-3 months pay into your emergency fund • This is a long term goal but maybe start with $5 per week now and leave it alone.

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