Transcript [Business Communication]

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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
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•
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Check the budget you have put together
Create a spending plan for the next three weeks
Know what it costs to live
Be aware of the costs of your choices for living
Balancing the Budget
More income
Less spending
Balancing the Budget
Increase Income
Decrease Outgoings
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Part-time work
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Hours of study (homework)
 Hobbies to small business
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Craft markets
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Art galleries
 Excess garden produce
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markets
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students
Food:
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Grow own
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Specials
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Supermarket vs. corner store
 Rent:
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Cheaper suburb
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Board vs. rent vs. flatmates
 Power: www.powerswitch.co.nz
 Teleco: www.telme.co.nz
Time Planning
Schedule / Time Log
12am
:00
:30
Notes
Prioritized To-Do List
Daily Planning
:00
1am
2am
3am
:30
:00
:30
Date: _________________
Appointment Schedule
:00
:30
8
:00
4am
:30
:00
5am
9
:30
:00
6am
10
:30
:00
7am
8am
:30
11
:00
:30
12
:00
9am
:30
:00
10am
12pm
1
:30
:00
11am
2
:30
:00
:30
3
:00
1pm
:30
:00
2pm
3pm
4pm
:00
5
:30
:00
:30
5pm
4
:30
6
:00
:30
7
:00
6pm
7pm
8pm
9pm
:30
:00
8
:30
:00
9
:30
:00
:30
10
:00
10pm
11pm
:30
:00
11
Prioritized Task List
Priority Task
Sticking to the Spending Plan
• Using the notebook you can create a weekly spending plan
and make things easier to keep to the plan.
• Note down the available funds
• Make a list of all the things that need to be paid for this week
• Does this exceed the available funds? If so reorganise, can
something wait until next week?
• Is there money left over? What are you going to do with it?
Spend it, save it or use it for one of your goals.
Sticking to the Spending Plan
Things That We Need To Pay For
•Food
•Rent/Board
•Power
•Clothes
•Transport
•Savings
Where are You Going To Live
• Flatting
• Bed, drawers, desk, chairs
• Rent plus share of utilities and food
• Rent includes utilities but not food
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•
•
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Close to work but higher rent
Further away – lower rent, higher transport costs
Bond Payment
Getting on with flatmates
Where are You Going To Live
• Boarding
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•
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Are meals included?
Limited activities at home
Could be cheaper option to start out
Ability to save for bond, vehicle, savings etc
Where are You Going To Live
• Renting
• Bond, letting fee, references (hard starting out)
• Are parents prepared to assist?
• Signing up for power, phone etc
• Bonds for power etc
• Bed, fridge, washing machine, lounge and dining suites
• Renters insurance
What Skills Do You Need?
• Reading and writing (literacy)
– Can you read and write enough to
know what you are signing when you
sign a lease or tenancy agreement
• NEVER be afraid to ask for help
– Can you read a grocery list and prices
What Skills Do You Need?
• Cooking
– Can you cook cheap nutritious
meals?
– Where do you get cooking lessons?
• Cleaning
– Do you know how to keep the house
clean and safe and healthy?
What Skills Do You Need?
• Ironing/Mending
– If you need to, can you iron a shirt?
– Can you sew a button back on?
What Skills Do You Need?
• Relationships
– Can you live with other people who may be
different to you and have different habits,
cultures, friends
• Can you live with your girlfriend/boyfriend
safely?
What Skills Do You Need?
• Financial literacy
– Do you have control of your money
– By being here you are on track to improve
that….
Homework Exercise #3 Banks
• Over the next week you are to go and visit as many banks as
you can and ask them the following questions:
– 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?
• You will be asked to tell the group what you have found.