Wants, needs, savings, debt

Things that we would like to have but are NOT necessary for our survival

• Wants

• Needs

Things we must have in order to survive, food, clothing water and shelter

• Wants

• Needs

Vegetable and fruits is an example of a

• Want

• Need

A new car is an example of a

• Want

• Need

Income tax is also called

• PAYE

• GST

• PIE

Why do we need to save? Choose the best answer

• For emergencies

• For goals

• For the future

• All of the above

When you are paid interest only on the amount you deposit

• Simple interest

• Compound interest

When your interest earns interest

• Simple interest

• Compound interest

True or false KiwiSaver is a savings account

• True

• False

What is the maximum amount the government will contribute towards your KiwiSaver?

• $300

• $521

• $1050