Getting Cash Wise with ASB

By Anonymous -

Today we had Marlon come and visit us from the ASB Get Wise programme. He was at Papatoetoe West Primary to teach us all about how to be smart with money (even at our age!).

First off he taught us about goal setting!

So what is a CASH Goal? Read more to find out!

C - Clear goal (make it personal) e.g. Buying a $300 bike
A - Actions (we're not going to ask for money!). How can we train our brain to EARN the money we need. What can we do at our age to earn money? We brainstormed some ideas. E.g. doing chores around the house (doesn't need to be much, could even be $2 a week), sell something like a lemonade stand, garage sale (get all of your old stuff to sell), jobs around the neighbourhood (e.g. a paper run), use competitions and more. Have to work to earn money! Not going to be easy.
S - Saving! Save money in a bank account and the bank gives you Free money!? (called Interest). If you keep your money in a money box or in a bed it might get lost (or you decide to spend it before you can achieve your goal!), and it won't be able to earn any interest. We learnt that even a tiny amount of interest (3%) can make a big difference over years of saving! Where will you save your money and how much will you try to save?
H - How Long? E.g. 10 weeks? With all of the actions we put in place how long will it take us to save what we need to achieve our goal?
Goal

 Here's an awesome youtube video that you can watch to learn more!
 
So now that we know how to be Cash Smart we can go and save for our goals! A big thanks to ASB for coming out and visiting Room 7!!

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