Each day this week we will release a news update about Money Week. Here is Friday's update:
Friday – What would you do with a $500 windfall?
Aucklanders were set a Money Week challenge by the Commission for Financial Capability: what would they do with a $500 windfall? They had three options: put it in KiwiSaver, pay off debt, or go shopping. More than a thousand people made their choices clear by throwing coloured balls into see-through Money Week tubes, placed in Britomart. The winning tube had 519 balls, popped in by people who wanted to pay off debt. That was closely followed by 491 shoppers then, lagging well behind, was KiwiSaver, with just 222. The windfall challenge was prompted by a question in CFFC’s financial fitness check-up, which asked whether people would use a windfall to pay back debt; 74% of Kiwis said they would. The commuters were invited to write their name on the balls and a lucky winner, Cynthia Dickey, received her own windfall of $500. She is going shopping. Anyone interested in taking the financial fitness check-up can find it at fightingfit.org.nz.
Thursday – Focus on secondary school students
Thousands of students are taking part in a range of activities intended to bring alive the role of finance in their lives as part of this year’s Money Week. Schools across New Zealand are running events, including a Finance Festival in Auckland, with the aim of helping equip young people to make informed choices about money. The Commission for Financial Capability has chosen the week to highlight research into the attitudes, behaviour, and experiences of secondary school students towards money and money management. It also looked at the range of financial capability programmes in secondary schools and the main barriers to teaching it more extensively. To see the full report and a summary go to: http://www.cffc.org.nz/the-commission/research-and-reports/financial-capability-research/
Tuesday – Define Wealthy With a Selfie
Students are being encouraged to think about what a wealthy life means to them with a photo competition during Money Week. It is being run by the Commission for Financial Capability and recognises that a wealthy life can mean very different things to different people. Two lucky winners will each receive a Go Pro camera. There are two age categories: under-18s and adults.
For more information and to upload a picture, go to http://moneyweek.org.nz/resources/your-school. You’ll also find an interactive online quiz for students to learn about their ‘money personality’.
Monday – Hip Hop Crew’s money moves launch Money Week 2015
One of the best young hip hop crews in the country has teamed up with the Commission for Financial Capability to get young New Zealanders thinking about their money. Members of IDentity Company, fresh from winning gold at the hip hop international world finals in the United States, staged a ‘fighting fit face-off’ to launch Money Week 2015. They have also worked with the Commission on a series of 30” YouTube videos, showing off their ‘money moves’ and sharing the ways they were able to fund their way to the finals. Find more information on the Facebook Money Week 2015 launch page.
Money Week is a nationwide awareness-raising event aimed at changing behaviour around personal finance. It provides a platform for people in the education, finance, business and community sectors to hold money-related events and activities around the country.