• Trustees Private Wealth

Aug 31, 2022

Money Week: Demystifying Money

Money Week is an annual week-long event every August that addresses the growing confusion surrounding finances. The campaign's goal is to collaborate in order to demystify money, and it is aligned with the National Strategy for Financial Capability.

The average person's long-term financial attitudes and behaviours begin to take shape as young as age seven. The sooner we can provide young people with financial education and skills, the better.

This public awareness and engagement campaign is typically organised by Te Ara Ahunga Ora in collaboration with the community of experts, specialists, and people of competence in the financial field.

To keep the conversation about money questions going, the theme "Just wondering" was back for one last time. The goal is to get people to ask for assistance and discuss money more openly.

How We’re Involved

Here at Trustees Executors, we help our clients better understand money and enhance their financial wellbeing - this is why we encourage everyone to participate in this joint effort amongst the community.

In line with this, as part of an industry-wide campaign entitled It Starts with Action, we sponsored the first fortnight’s theme which was #LetsTalkAboutMoney.

We also launched an internal “Money Dates” with our own people at Trustees Executor to discuss various money-related topics – a practice that can easily be done with friends and family.

Money conversations should always start with the people closest to you. You can download the Money Talks cards here and start playing with your friends or your family to begin unpacking different topics surrounding finances and financial literacy in a fun and safe way.

How Else You Can Get Involved

In a period of change and uncertainty, the 2021-2022 ad "Just wondering" acknowledged people's concerns about money. Many people in New Zealand are still struggling financially as a result of COVID-19, and are looking for new information, skills, and guidance.

The general scope is to impart the information to everyone, but these efforts are geared towards the younger generation to get the conversion rolling at a young age.

Your kids will have the ideal opportunity during Money Week to improve their financial literacy. In line with this, there are several ways you can play a role in this event.

Organise or participate in a school-wide fundraising effort

Start a fundraising campaign to collect money for a need in your school or neighbourhood. Each class may organise and manage a variety of fund-raising events, involving a variety of activities (bake sales, quiz bees, carnival games, garage sales, and the like).

In order to determine their earnings, teach pupils to keep a log of their costs and sales. This gives a creative avenue for kiddos to experience the process of making, counting, and handling money.

Examine and explore New Zealand’s currency

Examine the various New Zealand coins and bills. Which pictures are on the currency? Why did these get picked? Encourage children to recognize that a country's currency may symbolise its history, culture, and physical characteristics.

Based on what they believe to be significant to New Zealanders today, students might create their own designs for New Zealand coinage. This is an avenue for them to learn about the history of money and how and why coins and notes have evolved through time.

The Money Vocabulary

Explore and explain words, terms, and the overall vocabulary that are used when conversing about money. This can be done at home and even at school. You can create visuals that paint the words into pictures.

Through this, students can participate in practices like koha, inati (Tokelau), and fa’alavelave (Samoa) to understand where these all fit in the bigger money picture.

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