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Thinklinkers

Thinklinkers are thinking tools that support the learning and teaching resources of financial capability. 
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Thinklinker 1

All people hold values, beliefs, and behaviours towards money and towards building wealth that are guided by their experiences, whānau, and communities. For example, values of te ao Māori might include:

  • Tūrangawaewae – a place to stand – a place of belonging and identity
  • Whānaungatanga – relationships and connectedness
  • Manaakitanga – generosity of spirit and respect
  • Tino rangatiratanga – self-management and determination
  • Kaitiakitanga – guardianship.

List your values about money. Explain how some of the te ao Māori principles might influence your perception of collective wealth. If you were to adopt te ao Māori principles in building financial capability for all young people, which of these principles would drive your campaign to encourage them to save? Justify your choice.

Thinklinker 2

The first goal of saving is to build a safety net. After that you build a larger emergency fund glossary that should equal three months of income glossary . List and total up what you have spent in the last month. Classify your spending. Justify why the amount suggested for an emergency fund glossary is three times your monthly income glossary . Could save that much in your present situation?

Thinklinker 3

“In Amsterdam, utility companies are required by law to inform authorities about individuals in arrears so that budgeting services glossary can contact them.” (Ranyard et al. 2018).

Describe how you would respond if a utility company informed authorities that you had missed a payment. What might be the positive and negative outcomes of this regulation over a short-to-medium term glossary and over a long-term goal setting period? If you were the budgeting service, how could you evaluate the impact of your services.

Thinklinker 4

Face Recognition Surveillance in China. Stuff News

The streets in China’s major cities have camera surveillance at all main intersections. Every citizen can be identified by face recognition. If you are caught breaking the law – even if only a minor infringement like jaywalking – the state can withdraw your access to any form of credit. Your credit cards can be frozen and you cannot apply for loans. If you are convicted of several minor infringements or go to court your rights to buy property are revoked. Analyse how rules like these could affect your ability to set goals, budget glossary , save, and manage debt glossary . Evaluate the statement: People who break the law shouldn’t be allowed to take out loans.

Thinklinker 5

How much information about yourself do you provide online? International scammers run businesses by getting access to people’s personal details. They use software that run information through code-breaking devices. Your user profiles, your answers to fun social media quizzes, and your crazy captions to the photos you post can all be analysed for information about you. Scammers know how people choose passwords. They scan social media for people’s middle names, birthday months, names of their pets, favourite teacher and favourite holiday places because these are commonly chosen as passwords to internet accounts. List information you should avoid sharing online. Analyse how safe your online financial identity glossary is. Create a business card size resource outlining the steps people should take to protect their financial Identity glossary . Share it with other students to protect them from risks.

Thinklinker 6

What are mobile truck shops? Describe their role. Explain how they make money. Imagine you are a mobile truck shop operator. Justify the service you provide.

Thinklinker 7

Each year tens of millions of dollars are sent to other countries by families living in New Zealand. This money supports their families and villages back home and helps to pay for celebrations such as weddings and funerals. Describe the effects this financial commitment might have on a family in New Zealand. Explain how this might affect how families spend and save. Predict how overseas families would manage without family support from New Zealand. How does this support strengthen families?

Thinklinker 8

Many organisations rely on financial support from their members. Some recommend that members contribute a regular amount. Traditionally for churches, for example, the recommended amount was one tenth of a person’s income glossary (called a tithe). However, some people feel pressured to donate more than they can afford. List the problems that pressures to donate can cause. Explain the positive and negative effects of donating money to groups you support. Imagine you are a church leader and justify requiring donations from your congregation.

Thinklinker 9

In Korea you can shop in a virtual supermarket in the subway station on your way to work. Money is deducted from your account as you scan photographs of the items you want to purchase. On your way home at the end of the day you can collect your shopping from a fridge at your street corner. These fridges are hired out by multinational food chains. List items you have purchased online. Explain how this technology could change the way you shop. Tesco Virtual Stores are a retail chain that changed shopping by creating virtualshopping. Predict where this technology will take retail experiences in the future. Can you find any evidence for your predictions?

Thinklinker 10

In remote parts of the Cook Islands there is no access to the internet. Satellite communication is not an option for the people who live there. Explain how no access to the internet would affect your ability to save and budget glossary . Evaluate how no online access to your financial records or internet banking would change how you manage your money.

Thinklinker 11

Can you identify the spenders and the savers among your friends? Describe how their money personality glossary dictates their choices. Question them about how they felt before and after they made a major purchase.

Thinklinker 12

A recent New Zealand report put the cost of raising a child from birth to 18 years at $285,000 ($16,000 a year). List what you think you have cost your whānau this week. Include food, clothing, entertainment, activities, and transport. Compare your price tag for the week with that of a classmate and discuss the similarities and differences. Collate the results for everyone in the class and find the mean cost. Consider whether your costs for one week are indicative of your costs for a year.

Thinklinker 13

Recent New Zealand research on the financial capability of 18–24 year olds indicated that most young people seek advice about their personal financial management from family members rather than from financial experts glossary . Describe a situation where you sought financial advice from someone. Consider the advantages or disadvantages of getting advice from family members. Predict why people avoid seeking financial advice from experts.

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