Personal Finance Management Basics

Name:

Date:

💰 Part 1: Income Sources and Financial Knowledge

1. List four different sources of money that teenagers might receive:

2. What is KiwiSaver and at what age can you generally start contributing?

A retirement savings scheme; age 16

A retirement savings scheme; age 18

A bank account; age 21

A government benefit; age 16

3. If you have a part-time job earning $200 per week, what deductions might come out of your pay? (Check all that apply)

PAYE tax

KiwiSaver contributions

GST

Insurance

4. What does GST stand for and what is the current rate in New Zealand?

GST stands for: _________________________________

Current rate: _______%

🚗 Part 2: Car Ownership Costs

5. Calculate the total monthly cost of owning a car using these figures:

• Car payment: $350 per month

• Petrol: $240 per month

• Insurance: $85 per month

• WOF and registration: $25 per month

• Maintenance/repairs: $60 per month

Total monthly cost: $________

6. Based on the calculation above, how much would car ownership cost per year?

7. If you earn $800 per month from a part-time job, what percentage of your income would go to car expenses?

📊 Part 3: Personal Budgeting

8. Create a monthly budget for a teenager earning $400 per month. Allocate money to each category:

Savings: $______

KiwiSaver: $______

Entertainment: $______

Clothing: $______

Phone/Internet: $______

Transport: $______

Emergency fund: $______

Total allocated: $______

9. Why is it important to save money regularly, even as a teenager?

10. What financial goal would you like to achieve in the next 12 months, and how much would you need to save each week to reach it?

Goal: _________________________________

Total cost: $______

Weekly savings needed: $______

Personal Finance Management Basics

Personal Finance Management Basics

💰 Part 1: Income Sources and Financial Knowledge

🚗 Part 2: Car Ownership Costs

📊 Part 3: Personal Budgeting

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