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Transcript

An Eight Year Old’s Guide To Earning And Saving · That Home Loan Hub

• 0:10
  SPEAKER_00: Hello and welcome back to the School Holiday Edition.
• 0:14
  SPEAKER_00: And I have someone else in my office today.
• 0:18
  SPEAKER_00: Who do I have today?
• 0:21
  SPEAKER_00: What's your name?
• 0:22
  SPEAKER_01: Amir.
• 0:23
  SPEAKER_00: Amir.
• 0:24
  SPEAKER_00: And how are you related to me?
• 0:26
  SPEAKER_01: I'm your son.
• 0:27
  SPEAKER_00: You're my son.
• 0:28
  SPEAKER_00: Well, that's good to know.
• 0:30
  SPEAKER_00: Amir, so you being my son, how old are you?
• 0:33
  SPEAKER_00: Twelve.
• 0:35
  SPEAKER_00: Are you really?
• 0:36
  SPEAKER_00: Yeah.
• 0:37
  SPEAKER_00: How old are you?
• 0:38
  SPEAKER_01: Eight.
• 0:39
  SPEAKER_00: You're eight.
• 0:40
  SPEAKER_00: Awesome.
• 0:41
  SPEAKER_00: And what do you know about money?
• 0:45
  SPEAKER_01: That if you um spend too much, you don't have any.
• 0:50
  SPEAKER_00: If you spend too much, you don't have any.
• 0:52
  SPEAKER_00: Yep, that makes sense.
• 0:53
  SPEAKER_00: So what made you want to come to this podcast today?
• 0:57
  SPEAKER_01: Because my mom told me to.
• 1:01
  SPEAKER_00: Your mom told you to?
• 1:02
  SPEAKER_00: No.
• 1:02
  SPEAKER_00: Your sister did it with me, and then your brother did it with me, and then you wanted to.
• 1:06
  SPEAKER_00: Yeah.
• 1:07
  SPEAKER_00: Yeah.
• 1:07
  SPEAKER_00: So did I tell you to come on the podcast?
• 1:09
  unknown: Nah.
• 1:10
  SPEAKER_00: No.
• 1:10
  SPEAKER_00: You wanted to.
• 1:12
  SPEAKER_00: So what do you want to tell another pe another eight-year-old that's listening right now about anything you know about money?
• 1:22
  SPEAKER_00: What tips do you have for them?
• 1:25
  SPEAKER_01: Save your money.
• 1:28
  SPEAKER_00: How are they gonna save their money?
• 1:30
  SPEAKER_01: By doing a job and then you save your money.
• 1:33
  SPEAKER_01: Otherwise, if you just keep on spending it, you won't have any.
• 1:37
  SPEAKER_01: You just like have a little bit amount and then you can't buy stuff that costs lots.
• 1:42
  SPEAKER_00: Okay, so how can they make money to begin with?
• 1:45
  SPEAKER_00: What if they don't know how to make money?
• 1:48
  SPEAKER_01: They um can do jobs for their mum and then they can get money.
• 1:54
  SPEAKER_00: Okay.
• 1:55
  SPEAKER_00: What sort of jobs can they do?
• 1:56
  SPEAKER_00: As an eight-year-old, what sort of jobs can you do?
• 1:58
  SPEAKER_01: Vacuum, clean the windows, wipe the tables, push the chairs in, clean the dishes.
• 2:08
  SPEAKER_00: Make your beds.
• 2:09
  SPEAKER_00: Yeah.
• 2:10
  SPEAKER_00: Can you do your lunchbox?
• 2:13
  SPEAKER_01: Yeah.
• 2:14
  SPEAKER_00: What do you put in your lunchbox?
• 2:16
  SPEAKER_01: Toast, a bar, some food some packets and a snack.
• 2:27
  SPEAKER_00: Okay.
• 2:28
  SPEAKER_00: So if you do the jobs around the house, you get paid for it.
• 2:31
  SPEAKER_00: Let's say I give you ten dollars.
• 2:32
  SPEAKER_00: What are you gonna do with t$10?
• 2:34
  SPEAKER_01: Save it.
• 2:36
  SPEAKER_00: All of it?
• 2:37
  SPEAKER_01: Yeah.
• 2:37
  SPEAKER_00: How are you gonna save it?
• 2:39
  SPEAKER_01: I'm gonna put it in my um bedroom, put it in a safe place.
• 2:46
  SPEAKER_00: Is it gonna be safe in your bedroom?
• 2:48
  unknown: Yes.
• 2:49
  SPEAKER_00: But does money grow?
• 2:52
  SPEAKER_01: If you save, yes.
• 2:54
  SPEAKER_01: But if you don't, it won't.
• 2:57
  SPEAKER_00: Okay.
• 2:58
  SPEAKER_00: And what other things you can do as an eight-year-old to earn money outside of your house?
• 3:04
  SPEAKER_01: Um cut the glass.
• 3:07
  unknown: Cut the glass.
• 3:10
  SPEAKER_00: Go do some lawn mowing, huh?
• 3:11
  SPEAKER_00: You can do that dog walking.
• 3:13
  SPEAKER_00: You're very good at dog walking.
• 3:14
  SPEAKER_00: Dog walking.
• 3:16
  SPEAKER_01: You also can tidy up.
• 3:20
  SPEAKER_00: What about car wash?
• 3:21
  SPEAKER_01: Oh yeah, car wash too.
• 3:23
  SPEAKER_00: You're very good at that.
• 3:25
  SPEAKER_00: Yeah.
• 3:25
  SPEAKER_00: And what else have you been doing lately?
• 3:28
  SPEAKER_00: The school holidays, you've tried something new as a job?
• 3:32
  SPEAKER_01: Oh, I was being a coach for Taekwondo.
• 3:35
  SPEAKER_00: Yeah.
• 3:36
  SPEAKER_00: Did you like that?
• 3:37
  SPEAKER_00: Yeah.
• 3:37
  SPEAKER_00: Was that fun?
• 3:38
  SPEAKER_00: Yeah.
• 3:39
  SPEAKER_00: Yeah.
• 3:40
  SPEAKER_00: But you you currently have your probation period.
• 3:42
  SPEAKER_00: Do you know what's a probation period?
• 3:44
  SPEAKER_00: No.
• 3:45
  SPEAKER_00: Trial period?
• 3:47
  SPEAKER_00: What is that?
• 3:48
  SPEAKER_00: I don't know.
• 3:49
  SPEAKER_00: Where they test people.
• 3:52
  SPEAKER_00: Yeah.
• 3:53
  SPEAKER_00: And then if you're good.
• 3:55
  SPEAKER_01: They'll give they'll give you money.
• 3:57
  SPEAKER_00: They'll hire you.
• 3:58
  SPEAKER_01: Yeah.
• 3:59
  SPEAKER_00: And what does it mean being good?
• 4:01
  SPEAKER_01: Like don't be silly.
• 4:04
  SPEAKER_01: Like don't be annoying.
• 4:09
  SPEAKER_00: Okay.
• 4:10
  SPEAKER_00: And then you're gonna earn money?
• 4:11
  SPEAKER_00: Do you know anything about shears?
• 4:13
  SPEAKER_01: No.
• 4:15
  SPEAKER_00: Do you have shears?
• 4:17
  SPEAKER_01: Yeah.
• 4:18
  SPEAKER_00: What sort of shears do you have?
• 4:19
  SPEAKER_01: Uh McDonald's, Tesla, uh, Fly Center, KFC, and uh how do you buy them?
• 4:30
  SPEAKER_01: You put money in there and then you buy the thing.
• 4:34
  SPEAKER_00: Yeah, and who helped you to do that?
• 4:36
  SPEAKER_01: My dad.
• 4:37
  SPEAKER_00: Yeah, lots of fun.
• 4:38
  SPEAKER_00: You can choose companies and can buy shears from those companies.
• 4:41
  SPEAKER_00: And then you can make money on that.
• 4:43
  unknown: Yeah.
• 4:43
  SPEAKER_00: Yeah.
• 4:44
  SPEAKER_00: So if there was another eight-year-old listening to you right now, what would you tell them to do?
• 4:50
  SPEAKER_00: One thing that you tell them to do today.
• 4:52
  SPEAKER_01: Do shears.
• 4:53
  SPEAKER_00: Do shears.
• 4:54
  SPEAKER_00: What about Kivisaber?
• 4:55
  SPEAKER_00: Do you know anything about Kiwi Saver?
• 4:56
  SPEAKER_00: No.
• 4:56
  SPEAKER_00: We're gonna talk about Kiwi Saver next time.
• 4:59
  SPEAKER_00: Okay.
• 4:59
  SPEAKER_00: Do you know anything about compounding interest?
• 5:02
  unknown: No.
• 5:03
  SPEAKER_00: Do you know anything about inflation?
• 5:05
  SPEAKER_01: Yeah.
• 5:06
  SPEAKER_00: Oh, you know about inflation?
• 5:07
  SPEAKER_00: Okay, tell me about inflation.
• 5:09
  SPEAKER_01: Like it the money goes up.
• 5:11
  SPEAKER_00: Mm-hmm.
• 5:14
  SPEAKER_00: And what happens to the money?
• 5:16
  SPEAKER_01: It c gets becomes more.
• 5:22
  SPEAKER_00: The money becomes more.
• 5:25
  SPEAKER_00: Okay, and what do you know about home loan interest rates?
• 5:28
  SPEAKER_00: I don't know money.
• 5:29
  SPEAKER_00: You don't know anything?
• 5:30
  SPEAKER_00: What about water rates when you buy a house?
• 5:33
  SPEAKER_00: You have to pay water rates.
• 5:35
  SPEAKER_00: Do you know that?
• 5:35
  SPEAKER_00: No?
• 5:36
  SPEAKER_00: So that's why we say don't use too much water because you have to pay money on that water.
• 5:40
  SPEAKER_00: Do you know that?
• 5:41
  SPEAKER_00: Yeah.
• 5:42
  SPEAKER_00: What about bills?
• 5:43
  SPEAKER_00: Do you know anything about bills and expenses?
• 5:45
  unknown: No.
• 5:46
  SPEAKER_00: No.
• 5:46
  SPEAKER_00: We're gonna talk about it next time.
• 5:48
  SPEAKER_00: Okay.
• 5:48
  SPEAKER_00: Anything else you want to tell our listeners before we wrap it up?
• 5:51
  unknown: No.
• 5:52
  SPEAKER_00: No?
• 5:52
  SPEAKER_00: Did you have fun with mama today?
• 5:53
  SPEAKER_00: Yeah.
• 5:54
  SPEAKER_00: Yeah.
• 5:54
  SPEAKER_00: Now you can um claim that you're a celebrity.
• 5:57
  unknown: Okay.
• 5:57
  SPEAKER_00: Alright.
• 5:58
  SPEAKER_00: Thank you, Amir, for coming along.
• 5:59
  SPEAKER_00: Have a good day.
• 6:00
  unknown: Bye.
• 6:01
  SPEAKER_00: Bye.