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

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$ 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 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

Homework Reporting - Banks 1.What accounts do you offer under 18yr olds? 2.What fees are there on those accounts? 3.What would be the best account for me in my position? 4.What help can you give me to save money on my limited budget?

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

Sticking to the Spending Plan

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

avings Pay yourself first How to save What to save for

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

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.