24 March 21
Reading time: 6 minutes
It’s Global Money Week, the annual global awareness campaign on the importance of our young people learning about money early. It’s a great chance to talk to your whānau about money.
We see great things happen when we talk to our rangatahi about money. Here are some ideas for activities to do with the young people in your life.
Set the kids up with three or four jars for pocket money – one for fun, one for saving, one for giving and, if you can, one for growing. The first three are pretty easy, but the fourth one might need some brainstorming – it’s for entrepreneurial ideas like a lemonade stand or getting ready to start KiwiSaver early.
This way kids can feel what it’s like to be in control of how they are using money. Sure, they can have fun and buy themselves a treat, all the while working towards bigger goals, too.
We’ve heard from whānau who have brought their kids along to a money seminar to get everyone on board with the family’s goals.
Now, instead of asking for extras, the kids are encouraging mum to save, and offering to go without treats with the understanding that the family adventure will be worth the wait.
You can also start at home – here are some tips on how to start a conversation about money with your kids.
Our very own Sorted in Schools Money Jam competition is a great way for your teenagers to see the value of planning with money.
To mark Global Money Week, we’re encouraging students to create a plan and budget for a fundraising event – like a market day or talent show – and submit their idea for the chance to win for their school.
There are two major prizes of $2500 (to bring the two winning experiences to life). Plus, to celebrate Sorted in School’s proud sponsorship of TVNZ 2’s Brain Busters, show hosts Chris Kirk and Mikey Falesiu will attend the winning fundraising events as special guests.
Head to the Money Jam page on our Sorted in Schools website for more details.
To get the conversation started, we’ve got a money quiz for you to have some fun with the whole family. These are some of the financial capability questions asked in TVNZ 2’s Brain Busters.
Answers: 1. Loan. 2. Goods and services tax. 3. 15%. 4. Interest. 5. Buy shares. 6. 18 months. 7. $25. 8. Bonds. 9. Gross pay. 10. Principal. 11. Emergency fund. 12. 3%. 13. $104. 14. The cost goes up. 15. Compound interest. 16. 65. 17. Premium. 18. Credit.
How did you do?
For more tips and tricks for talking about money with the kids, take a look at our blog posts on kids and money.
Sorted in Schools, Te whai hua – kia ora is a free financial capability programme equipping young people with essential knowledge, skills and confidence to help them make good money decisions for their future.
Our research shows 82% of school leavers wished they had learned more about money at school. Sorted in Schools responded by becoming the only financial capability programme aligned to the New Zealand Curriculum and Māori Medium Education, also enabling students to gain credits towards their NCEA qualifications.
Want Sorted in Schools at your school? Ask your teacher to sign up.