Riding Life's Financial Waves
Understanding how life events affect your income US 28092 - Level 2, 3 Credits Year 12 Business Studies
What We'll Learn Together
How income changes at different life stages Why these changes happen Effects of significant life events on money Smart solutions to manage financial challenges Real-world applications for your future
Your Financial Journey Starts Now
"The best time to plant a tree was 20 years ago. The second best time is now." - Chinese Proverb
Topic One: Sources of Income at Different Life Stages
Post-secondary stage (18-25 years) Family and career building (25-50 years) Retirement stage (65+ years) Each stage has unique income sources and challenges
Post-Secondary Income Sources
{"left":"Part-time jobs while studying\nStudent allowances and loans\nScholarships and grants","right":"Family financial support\nCasual or seasonal work\nInternships and work experience"}
Income Reality Check
Calculate a realistic weekly budget for a university student Include: accommodation, food, transport, study materials, entertainment Use real NZ costs and typical student income Discuss challenges and trade-offs
Family and Career Building Income
Full-time employment salaries Career progression and promotions Dual-income households Investment returns and savings Side businesses or freelancing Parental leave payments
Retirement Income Sources
NZ Superannuation (government pension) KiwiSaver retirement savings Private investments and savings Part-time work or consulting Rental property income Inheritance or family transfers
Think About Your Future
Which life stage do you think offers the best opportunities to build wealth? What challenges might you face in each stage? How can you prepare now for future financial success?
Topic Two: Why Income Sources Change
Education and skill development Economic conditions and job markets Life choices and priorities Government policies and regulations Technology and industry changes Personal circumstances and health
Education's Impact on Income
{"left":"Higher qualifications = higher earning potential\nSkill development opens new opportunities\nSpecialized training increases market value","right":"Continuous learning maintains competitiveness\nEducation is an investment in future income\nSome careers require specific qualifications"}
Economic Factors Affecting Income
Recession reduces job opportunities and wages Economic growth creates new jobs and industries Inflation affects purchasing power Interest rates impact investment returns Global events influence local markets Government spending affects public sector jobs
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