Financial Literacy Flashcards
What are dividends?
A reward, cash or otherwise, that a company gives to its shareholders.
What does your employer contribute to you KiwiSaver?
3% of you gross income
What does the government contribute to you KiwiSaver?
$0.50 for every $1 you put in with a max of $521 per year
When can you access your KiwiSaver
If you are moving countries, finance emergency, retirement
What are some KiwiSaver disadvantages?
Can’t get it unless you have the “access” to it, you have to pay a fee.
When you put money into you KiwiSaver where does the money come from?
Your gross pay
What are the 3 different types of tax?
Individual PAYE, GST, Company tax.
What are the two biggest forms of revenue for the government?
Individual PAYE, GST.
What percentages can you contribute to kiwi saver from you gross pay?
3%, 4%, 6%, 8%, 10%
What is a net pay/salary?
Earnings after tax.
What are the 3 biggest ares where the government spends money?
Health, education, social welfare.
What is the definition of surplus?
That you earned more than you spent.
What is deficit?
It means you have spent more than you have earned.
True of False? A budget can be for any time period?
True.
What is fortnightly?
Every 2 weeks
