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Financial Literacy #1�

NZ Money

tahiMaths ©

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Section 1A – NZ Money

In New Zealand, the big shift in the 21^st century is from coins and notes to electronic banking and electronic transactions. However, coins and notes are still used in New Zealand on a day-to-day basis in many areas.

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Section 1A – NZ Money

Some facts about New Zealand’s money:

New Zealand began using the decimal currency on the 10^th July 1967. Before this, New Zealand used the New Zealand pound, a money system based on the English pound.

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Section 1A – NZ Money

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Section 1A – NZ Money

Some facts about New Zealand’s money:

At that time, 27 million notes ($100, $50, $20, $10, $5, $2 and $1) and 260 million coins (50c, 20c, 10c, 5c, 2c and 1c) were made (minted) and placed into circulation around the country.

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Section 1A – NZ Money

Some facts about New Zealand’s money:

In 1990, the 1c and 2c coins were taken out of circulation.

In 2006, the 5c coins were taken out of circulation.

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Section 1A – NZ Money

Some facts about New Zealand’s money:

In 1991, the $1 and $2 notes were replaced with the $1 and $2 coins.

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Section 1A – NZ Money

Some facts about New Zealand’s money:

Criminals all around the world attempt to create fake money (counterfeit money). New Zealand has one of the lowest counterfeit crimes in the entire world because we have some of the most advanced designed money. It is designed from a polymer (a type of plastic) and is very hard to damage/tear. New Zealand and Australia were the first two countries in the world to introduce polymer banknotes.

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Section 1A – NZ Money

Series 6

Notes made from 1999 – 2014

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Section 1A – NZ Money

Series 7

Notes made from 2015 onwards

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Section 1 – NZ Money

[Please complete Exercise 1A]

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Section 1B - NZ Money

[Please complete Exercise 1B]

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Section 1B - NZ Money

In 1967, New Zealand changed from the English money system (pounds, shillings, pence) into a New Zealand money system (dollars, cents).

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Section 1B - NZ Money

The 1c and 2c coins were taken out of circulation in 1990.
The 5c coin was taken out of circulation in 2006

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Section 1B - NZ Money

In 1991, the $1 and $2 notes were replaced with the $1 and $2 coins.

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Section 1B - NZ Money

10c

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Section 1B - NZ Money

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Section 1B - NZ Money

What symbol is on the front of the 10c coin?

Maori koruru, or carved head

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Section 1B - NZ Money

What symbol is on the front of the 10c coin?

Maori koruru, or carved head

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Section 1B - NZ Money

20c

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Section 1B - NZ Money

Symbol on front of 2014 coin:

Maori carving of Pukaki

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Section 1B - NZ Money

What symbol is on the front of the 2014 20c coin?

Maori carving of Pukaki

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Section 1B - NZ Money

What symbol is on the front of the 2014 20c coin?

Maori carving of Pukaki

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Pukaki

New Zealand's 20 cent coins issued since 1990 feature a remarkable Maori carving. It is a reproduction of a specific carving of an 18th century Maori warrior leader called Pukaki, who was a Rangatira (Chief) of the Ngati Whakaue iwi of Te Arawa in the Rotorua district.

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Section 1B - NZ Money

50c

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Section 1B - NZ Money

Captain Cook's HMS Endeavour
Mount Taranaki, Taranaki Maunga or Mount Egmont.

Taranaki, New Plymouth

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Section 1B - NZ Money

What boat is on the 50c coin?

Captain Cook's HMS Endeavour

(b) What mountain can be seen in the background? Where is this?

Mount Taranaki, Taranaki Maunga or Mount Egmont.

Taranaki / New Plymouth

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Section 1B - NZ Money

What boat is on the 50c coin?

Captain Cook's HMS Endeavour

(b) What mountain can be seen in the background? Where is this?

Mount Taranaki, Taranaki Maunga or Mount Egmont.

Taranaki / New Plymouth

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Section 1B - NZ Money

$1

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Section 1B - NZ Money

What bird is on the $1 coin?

Kiwi Bird

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Section 1B - NZ Money

What bird is on the $1 coin?

Kiwi Bird

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Section 1B - NZ Money

$2

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Section 1B - NZ Money

What bird is on the $2 coin?

Kōtuku or White Heron

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Section 1B - NZ Money

What bird is on the $2 coin?

Kōtuku or White Heron

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Section 1B - NZ Money

What bird is on the $2 coin?

Kōtuku or White Heron

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Section 1B - NZ Money

$5

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Section 1B - NZ Money

Who is the person on the 2016 $5 note?

Sir Edmund Hillary

What were they known for?

First human known to summit Mount Everest (tallest mountain in the world)

What bird is on the 2016 $5 note?

Hoiho or Yellow-eyed Penguin

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Section 1B - NZ Money

Who is the person on the 2016 $5 note?

Sir Edmund Hillary

What were they known for?

First human known to summit Mount Everest (tallest mountain in the world)

What bird is on the 2016 $5 note?

Hoiho or Yellow-eyed Penguin

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Section 1B - NZ Money

Who is the person on the 2016 $5 note?

Sir Edmund Hillary

What were they known for?

First human known to summit Mount Everest (tallest mountain in the world)

What bird is on the 2016 $5 note?

Hoiho or Yellow-eyed Penguin

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Section 1B - NZ Money

$10

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Section 1B - NZ Money

Who is the person on the 2016 $10 note?

Kate Sheppard

(b) What were they known for?

Woman’s Suffragette

(c) What bird is on the 2016 $10 note?

Whio or Blue Duck

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Section 1B - NZ Money

Who is the person on the 2016 $10 note?

Kate Sheppard

(b) What were they known for?

Woman’s Suffragette

(c) What bird is on the 2016 $10 note?

Whio or Blue Duck

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Section 1B - NZ Money

Who is the person on the 2016 $10 note?

Kate Sheppard

(b) What were they known for?

Woman’s Suffragette

(c) What bird is on the 2016 $10 note?

Whio or Blue Duck

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Section 1B - NZ Money

$20

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Section 1B - NZ Money

Who is the person on the 2016 $20 note?

Queen Elizabeth II

(b) What bird is on the 2016 $20 note?

Karearea or NZ Falcon

(c) What bird is on the 1967 $20 note?

Kererū

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Section 1B - NZ Money

Who is the person on the 2016 $20 note?

Queen Elizabeth II

(b) What bird is on the 2016 $20 note?

Karearea or NZ Falcon

(c) What bird is on the 1967 $20 note?

Kererū

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Section 1B - NZ Money

Who is the person on the 2016 $20 note?

Queen Elizabeth II

(b) What bird is on the 2016 $20 note?

Karearea or NZ Falcon

(c) What bird is on the 1967 $20 note?

Kererū

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Section 1B - NZ Money

$50

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Section 1B - NZ Money

Who is the person on the 2016 $50 note?

Sir Apirana Ngata

(b) What were they known for?

Maori politician

(c) What bird is on the 2016 $50 note?

Kokako or Blue Wattled Crow

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Section 1B - NZ Money

Who is the person on the 2016 $50 note?

Sir Apirana Ngata

(b) What were they known for?

Maori politician

(c) What bird is on the 2016 $50 note?

Kokako or Blue Wattled Crow

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Section 1B - NZ Money

Who is the person on the 2016 $50 note?

Sir Apirana Ngata

(b) What were they known for?

Maori politician

(c) What bird is on the 2016 $50 note?

Kokako or Blue Wattled Crow

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Section 1B - NZ Money

$100

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Section 1B - NZ Money

Who is the person on the 2016 $100 note?

Ernest Rutherford

(b) What were they known for?

Physicist (splitting atom)

(c) What bird is on the 2016 $100 note?

Mohua or Yellowhead

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Section 1B - NZ Money

Who is the person on the 2016 $100 note?

Ernest Rutherford

(b) What were they known for?

Physicist (splitting atom)

(c) What bird is on the 2016 $100 note?

Mohua or Yellowhead

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Section 1B - NZ Money

Who is the person on the 2016 $100 note?

Ernest Rutherford

(b) What were they known for?

Physicist (splitting atom)

(c) What bird is on the 2016 $100 note?

Mohua or Yellowhead

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Section 2 – How much do I have…?

[Please complete Exercise 2]

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Section 3 – How much change do I get…?

[Please complete Exercise 3]

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Section 4 – Rounding the cost

When people use cash in New Zealand, shops and retailers need to round the cost up or down to the nearest 10 cents.

Example 1

A cost of $5.32 will get rounded to $5.30 if a customer is paying by cash.

Example 2

A cost of $15.87 will get rounded to $15.90 if a customer is paying by cash.

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Section 4 – Rounding the cost

[Please complete Exercise 4]

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Section 5 – A quick shop

[Please complete Exercise 5]

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Section 6 – How do people carry their cash around…?

Exercise 6

Ask 20 people, including students and adults on how they carry cash around safely.
Record your results in this frequency table.
Draw a Bar Graph to represent this information.
Add labels to the axes and a title to the graph.

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Section 6 – How do people carry their cash around…?

Way to carry cash	Tally	Frequency
Wallet
Handbag/Purse
Cellphone case
Schoolbag
Pocket
Other

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Section 6 – How do people carry their cash around…?

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Section 7 – Exchange Rates

All countries over time adopted their own money. When you travel overseas, you need to exchange New Zealand money with the money in the country you are visiting or living in.
Europe have attempted to create a single currency for currently 19 countries across Europe. The money is called Euro and started in 1999. You use the same money in all of these countries.
Exchange rates are constantly changing (often daily) based on the markets and economies of each country.

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

How much Australian dollars (AUD) can he get?
He does not spend all of this money. If he returns to New Zealand with $300AUD, how much New Zealand dollars (NZD) can he get?

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(a) How much Australian dollars (AUD) can he get?

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(a) How much Australian dollars (AUD) can he get?

WHEN YOU TRAVEL OVERSEAS FROM ONE COUNTRY TO ANOTHER – MULTIPLY

1500 × 0.9356 = $1,403.40 AUD

$1,500 NZD will give you $1,403.40 AUD

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(a) How much Australian dollars (AUD) can he get?

WHEN YOU TRAVEL OVERSEAS FROM ONE COUNTRY TO ANOTHER – MULTIPLY

1500 × 0.9356 = $1,403.40 AUD

$1,500 NZD will give you $1,403.40 AUD

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(a) How much Australian dollars (AUD) can he get?

WHEN YOU TRAVEL OVERSEAS FROM ONE COUNTRY TO ANOTHER – MULTIPLY

1500 × 0.9356 = $1,403.40 AUD

$1,500 NZD will give you $1,403.40 AUD

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(b) He does not spend all of this money. If he returns to New Zealand with $300AUD, how much New Zealand dollars (NZD) can he get?

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(b) He does not spend all of this money. If he returns to New Zealand with $300AUD, how much New Zealand dollars (NZD) can he get?

WHEN YOU RETURN FROM OVERSEAS FROM ONE COUNTRY TO ANOTHER – DIVIDE

300 ÷ 0.9356 = $320.65 NZD

$300 AUD will give you $320.65 NZD

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(b) He does not spend all of this money. If he returns to New Zealand with $300AUD, how much New Zealand dollars (NZD) can he get?

WHEN YOU RETURN FROM OVERSEAS FROM ONE COUNTRY TO ANOTHER – DIVIDE

300 ÷ 0.9356 = $320.65 NZD

$300 AUD will give you $320.65 NZD

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Section 7 – Exchange Rates

Example

Lui is travelling from New Zealand to Australia. He has $1,500 New Zealand dollars (NZD) to spend in Australia. On 19^th February 2022, the exchange rate was: 1 NZD : 0.9356 AUD.

(b) He does not spend all of this money. If he returns to New Zealand with $300AUD, how much New Zealand dollars (NZD) can he get?

WHEN YOU RETURN FROM OVERSEAS FROM ONE COUNTRY TO ANOTHER – DIVIDE

300 ÷ 0.9356 = $320.65 NZD

$300 AUD will give you $320.65 NZD

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Section 7 – Exchange Rates

[Please complete Exercise 7]