Banqer
Banqer is a financial literacy program that gets the kids thinking about how they can use their money to generate more money.
So far in Room 3 we're using Banqer to help motivate us with our reading and writing. We have literacy tasks that we need to complete each week, all of which are worth different amounts of financial income. Check out our literacy page and our 100 Word Challenge page for more about the payments for these tasks.
Also don't forget to make sure that you check out are , and check out our blogs! The 100 word challenge amounts depend completely on how well you're achieving your goals.
Term 3
This term saw us kicking off our Banqer sessions. We began by looking at our bank accounts, and figuring out how to transfer money from account to account. Some of us found this a bit challenging, and as a result fell behind in our rent payments! This meant that we had to pay a late fee for each week we were late. Because of this, some of us needed to apply for an overdraft - so that we didn't pay too much money in interest!
Once we got that all sorted we had a look at making income. Mr Hannah made us write job applications, and then gave us jobs based on those applications. This means that we can earn some money for our end of term fun day, and can also bid on stuff in our end of term auction.
Term 4 - Week 1
This term sees us beginning to look at houses. We are hoping to save enough money to be able to buy some houses! Some us though will struggle to get there because we made poor money choices last term! The auction was too good for some people to refuse, and as a result they're now way in the negatives. We might need to bankrupt some people!
To help us figure out our real estate stuff we used a couple of website.
Banqer is a financial literacy program that gets the kids thinking about how they can use their money to generate more money.
So far in Room 3 we're using Banqer to help motivate us with our reading and writing. We have literacy tasks that we need to complete each week, all of which are worth different amounts of financial income. Check out our literacy page and our 100 Word Challenge page for more about the payments for these tasks.
Also don't forget to make sure that you check out are , and check out our blogs! The 100 word challenge amounts depend completely on how well you're achieving your goals.
Term 3
This term saw us kicking off our Banqer sessions. We began by looking at our bank accounts, and figuring out how to transfer money from account to account. Some of us found this a bit challenging, and as a result fell behind in our rent payments! This meant that we had to pay a late fee for each week we were late. Because of this, some of us needed to apply for an overdraft - so that we didn't pay too much money in interest!
Once we got that all sorted we had a look at making income. Mr Hannah made us write job applications, and then gave us jobs based on those applications. This means that we can earn some money for our end of term fun day, and can also bid on stuff in our end of term auction.
Term 4 - Week 1
This term sees us beginning to look at houses. We are hoping to save enough money to be able to buy some houses! Some us though will struggle to get there because we made poor money choices last term! The auction was too good for some people to refuse, and as a result they're now way in the negatives. We might need to bankrupt some people!
To help us figure out our real estate stuff we used a couple of website.
- We used Homes.co.nz to look at houses around our neighbourhoods, and figure out the cost of some of the areas that we live in. We also talked about that just because that's the price the website has it doesn't mean that's what the house is worth, or that is how much will sell for.
- www.sorted.org.nz - in this page we're looking at how long it will take to pay off mortgages, and how much interest we might pay on a house if we take longer to pay it off.
- Take a house loan of $400 000
- Set the interest rate to 4.5%
- Change the amount of time that you want to pay it off
- Figure out how much extra you will pay for 10 years, 20 years, 30 years
- www.trademe.co.nz and www.realestate.co.nz - we used these two sites to investigate the different types of houses we can get for varying amounts of money. We are looking at the different areas that we could buy houses in, both within Hamilton and across the country.
- Find three houses you like
- For each one record the following: why you like it, how much it costs, and where it is
- Work out if you can apply for a loan or not!
- Your loan assessment must be in be writing to Mr Hannah by Friday of Week 1