Posts Tagged :

debt

In debt? Here are some red flags that you are in too much debt and what you can do.

Are you swimming in debt? Or even drowning? You’re not alone, thousands of Kiwis have that same feeling they are sinking financially. Debt has its uses and can be used to spread out large or unforeseen expenses. Being in debt all the time, however, isn’t okay and you need to use credit, not let it use you. But there is a way out. Debt can be whittled away one dollar at a time if you start today. So what is…

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Got a Christmas debt hangover? We’ve got tips to help

The post-Christmas season can be a tough one, and our data shows Kiwis are more likely to let their credit bills languish unpaid at this time of the year compared to any other. If you’re anything like the average New Zealander, you’re probably feeling the effects of spending up large in the lead-up to the festive season and in the wake of Boxing Day sales. Usually around 6.4% of credit card accounts go past due without being paid, but in the January…

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Going from debt to building wealth: Your way to a richer future

There’s no magic in becoming financially fit. But Credit Simple’s Four Pillars of Wealth approach can help you get there. Going from debt to building wealth is easier than you might think. We guarantee there are people around you earning no more than you do who are well on their way to wealth. Here’s how to become one of them: Pillar one: spend less Do you know your needs from your wants? It’s only you who suffers if you’re not…

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7 steps to perfect credit card use

New Zealand’s collective credit card debt was nearing $7.2 billion in June this year. Your contribution to this growing national burden may be miniscule, but it probably doesn’t feel that way when your credit card bill thuds ominously onto the welcome mat. So, how can you avoid credit card debt in New Zealand? Many people believe using your credit card is always a bad idea. However, if you’re savvy and organised, paying on plastic doesn’t have to be the road…

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Should you consolidate your debts? We weigh up the pros and cons

Debt in New Zealand has been slowly increasing over the past few decades, and household debt is higher than it’s ever been in 2018. If you have a lot of debt, you may be considering debt consolidation, which has its benefits – as long as you’re aware of the risks. Pros of consolidating your debt If you pursue debt consolidation, you’ll be able to combine all of your debts into one loan, giving you just one payment to make each…

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Scared of your finances? 5 ways to get control over your money without looking through your fingers

Money management can be a terrifying thing. Especially if you’ve got debt – seeing large sums go in and out of your bank account is enough to give anyone the willies, even if it’s ‘good’ debt (such as a home loan). But there are strategies you can use to cope, and to not only manage your money but actually overcome those ghosts of spending past. Here’s five we’ve rounded up. Know where your money is going. Knowledge is power, and…

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Money worries giving you a headache? Talk to a financial mentor straight away for free

Being snowed under by bills or chased by a lender or debt collector can feel stressful. Having your bank balance constantly in the red can feel like life is spinning out of control. It can help to talk to someone about what’s happening, get another perspective and put a plan into place. Thanks to Fincap, you can get support for free. Fincap has set up a new helpline, MoneyTalks, which is an easy first port of call for anyone needing…

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How can I improve my credit score?

How creditworthy are you? Even seemingly minor things like missing a single mobile phone payment or applying for a few credit cards at once can negatively impact your borrowing capacity. But don’t despair; there are many ways you can improve your credit rating in New Zealand, even if you’ve made a few mistakes in the past. More than one-third of New Zealanders are either struggling financially or just about getting by. Stay credit active The best way to have a…

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Using a credit card for everything? There are other ways to pay

Don’t believe you have to have a credit card. Paying interest sucks. It sucks the lifeblood out of your finances. That’s because unless you clear your entire bill within the interest free days, you pay interest. That interest means you’re paying as much as 22.95% more than your mates at the mainstream banks for the same things, which has a detrimental effect on your finances over time. Other (cheaper) ways to pay Thankfully there are way more credit-free ways to…

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Invest or save? Three things every Kiwi should consider before plotting a path to financial freedom

You, your wallet, and your spare change walk into a bank. What, were you expecting a punchline? Well, these isn’t one! Your financial future is no joke. That said, the wealth of savings options available to Kiwis these days will have you laughing all the way to the bank. Or credit union. Or investment company. Or or or… do you see the problem yet? Saving money is always a smart idea. But we reckon being spoiled for choice still presents…

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