The purpose of this lesson today is to get you thinking about the big picture future plans around your lives. For this activity I want for you to imagine that you are 25 years old (about a decade away).
I want for you to make a loose plan around what things you want to do/accomplish/try over the next ten years. I want for you to pick some pathways. Primarily this is a way of looking at some careers/jobs that you could have in the future. To research these (pays, how to get the job, what schooling you need) you need to go to the careers website www.careers.govt.nz and look up various interesting jobs.
You can then calculate how many years of income you have from now until then (remember some careers need to have poly or uni training.
Then I'd like you to think about what sort of savings you can make over the next 10 years. It would be good idea to try and calculate a fraction of your pay (say one twentieth). You will also be put into a kiwisaver scheme where you'll save another 3% of your pay. There are chances for you to find some integer money values (from things you will owe money for). Think about student loans, car loans, mortgages.
Then I would like to you to create a theoretical net worth calculation.
Net Worth is the dollar value at any particular moment. It is calculated by taking all the value of things you own and taking off the things you owe.
NET WORTH = WHAT YOU OWN - WHAT YOU OWE
= (12 + 270 + 23) - (210 + 7)
= 305 - 217
= 88 Bob's net worth is $88,000 dollars.
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