This resource helps teachers deliver the Financial Capability Unit Standard 24697 ‘Perform income-related calculations for personal financial capability’ (Level 1, 2 Credits). Students will learn methods used to calculate gross income, using annual, monthly, fortnightly, weekly and hourly income rates.
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Financial Capability is a core generic domain on the New Zealand Qualifications Framework. This unit of work also has links to the Social Sciences and Mathematics and Statistics learning areas.
Managing Income: US 24697Download overview
Students taking part will
- Practice various methods of converting hourly income into weekly, fortnightly and annual income
- Understand factors that affect net pay
- Calculate income tax on personal income
- Investigate KiwiSaver interest rates
- Calculate KiwiSaver repayments
- Calculate student loan repayments
- Complete a practice assessment
For access to the detailed Teaching Guide and Student Assessment for this Unit Standard, please contact us via email at: email@example.com