Lesson 7: Give me your money
Target Group
Primary/Intermediate students
Overview
This lesson outlines the difference between needs and wants and gives examples
of the most important things adults need to pay for.
Concepts Introduced
 Need and wants
 Income tax
 Mortgage or rent payments
 Insurance
 Rates
 Amenities
 Saving for wants
Objectives
Here we give students and examples of the important expenses that need to be
paid for before spending on wants. They learn the kind of money that has to be
paid for some average households, the importance of insurance, what city rates
pay for, and an understanding of amenities.
*NZQA Unit Standards supported by this lesson:
Introduction only
*NZ Curriculum Levels supported by this lesson:
Levels 1: Spending
Levels 1 – 3, 5: Budgeting and financial management
*Download this LINK for a full list of NZ Curriculum and NZQA lesson numbers
© Bamzonia NZ 2014 www. bamzonia.co.nz
7. Give me your money
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Question
1
Is going to the Cinema a Need or a Want?
2
Which of these is a need?
3
Answer 1
Answer 2
Answer 3
A Want
A Need
It depends on who
is paying
A newspaper
A haircut
An ice cream
Out of these, what is the Johnson’s biggest
expense?
Petrol for the car
City Rates
Grocery shopping
4
What is the first thing Pio and Tanya need to
pay with the money they earn?
Income Tax
Mortgage
repayments
Grocery shopping
5
If Pio pays $250 out of the $1,200 he earns,
how much is he left with?
$900
$950
$1,050
6
How is Tanya paid?
With cash
By cheque
By Internet Banking
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Question
7
What is another name for a Home Loan?
8
What is the Johnson’s biggest expense they
need to pay for?
9
How would repairs to the road outside the
Johnson’s house be paid for?
10
Who has to pay City Rates?
11
If Pio didn’t have motor insurance and hit
another car in an accident, who would
have to pay for the damage to the other
car.
12
What is another word for services like gas,
electricity and water?
Answer 1
Answer 2
Answer 3
A Mortgage
Rent
Rates
Rent
The Mortgage
Weekly groceries
With money the
Government collects
through Income Tax
With money the
Government collects
through Income Tax
With Money the city
collects through Rates
Every household
and business
Every man, woman,
and child
His house Insurance
Company
Monthly bills
The Government
Pio
The other driver
Annuities
Amenities
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Question
13
Which one of these is the odd one out for
the Johnson’s?
14
Which one of these is the odd one out?
15
Which one of these is the odd one out?
Answer 1
The Electricity bill
Answer 2
The Grocery bill
A bar of chocolate
The bus fare to
school
Paying Income Tax
Paying for the
groceries
Answer 3
The Petrol bill
Renting a DVD
Paying for a new
iPad