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.
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.
Click here for an Interactive Financial Capability US Matrix
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: firstname.lastname@example.org