Posts Tagged :

personal finances

Does it pay to be a loyal customer?

You don’t get much in this life unless you ask. That’s definitely the case with your bank, your insurance company and utility companies. There’s a lot of money to be made there. And if we’re lazy, companies can maximise their profits. Don’t let that be you. By playing hard to get, or by ‘rate tarting’ (that’s shopping around for a better rate), you can have your loyalty rewarded. Understand your spending Before you storm into your bank or phone your…

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How to build an emergency fund (and why you need one)

Last week I paid for an upcoming ski holiday in Canada. The trip isn’t until January but it has to be paid in advance. Skiing in Canada is my idea of nirvana, so it wasn’t too painful to see the thousands of dollars flowing out of my account; after all, it’s going to a good cause. But this week, my car decided it needed a wheelbearing replaced plus a wheel alignment and new spark plugs. Then my dentist informed me…

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Lotto balls in tubes
Eight ways to waste your money

We all throw money down the gurgler. But some Kiwis have far higher chances of getting a Darwin Award for stupidity by paying too much idiot tax than others. Technically ‘idiot tax’ is spending on Lotto. Your odds of winning Powerball in New Zealand are 1 in 38 million per line. Yet the same money invested in a KiwiSaver growth fund from the age of 25 to 65 would add up to $128,000 after tax. Stop wasting your hard-earned money…

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New Zealand Notes and Coins
How to conjure up money from nothing

Do you want to conjure money up from nowhere? It can be done. Cheapskates spend almost NOTHING. They pop to the toilet when it’s their round to buy the drinks and trawl local free sites for unwanted pet bunnies to eat. Well perhaps not bunnies, even though it’s been done. But here are some cheapskate ideas to ratchet down your spending big time before your debts affect your credit score: Become a Freegan. It’s amazing how much free food you…

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Funding your first set of wheels
Funding your first car – what you need to know before getting a car loan

Buying yourself a set of wheels is expensive. If you’ve saved the cash to buy the car, that’s great. But realistically, most young people have to borrow money to buy a car. If that’s you, brush up on a few things before you sign on the dotted line. Save Saving up and paying cash is the cheapest way to buy a car. Ask around and you’ll find friends who have done it. Surprising, huh? Downgrade your expectations We know you…

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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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Fatten up your finances with the Three Naughty Things rule
Increase your savings with these three tips.

Ever been on a diet? A really strict diet? Chances are, you went crazy about all the things you couldn’t have, felt way too restricted, and had a blowout with a tray of donuts and a one-litre tub of salted caramel gelato. (No? Oh… OK, just me then.) Your finances are a bit like a diet, only in reverse: if you succeed, your bank account is the thing that gets fat. But just like being on a diet, if you’re…

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5 hobbies you don’t have to spend a fortune on

Everyone wants to go fishing without spending money, right? But how do you manage that? You need fishing rods and tackle, a boat (or a lucky spot on the coast) and bait. If you’re new to the game, you’ll have to invest in the equipment, and that expense can really add up. Taking up a new hobby on a budget is possible, but it requires forethought. We all want to try new things (golfing, fishing, off-roading) but don’t have the…

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What does the bank of the future look like?

Banking is moving into a new high tech universe. Like many other aspects of our lives the digital revolution is about the change the way we bank. We may even use Snapchat, Facebook, Instagram or other social media platforms for our banking with the traditional bank relegated to providing wholesale services. Here is what I think: Banks have got us by the short and curlies. Whichever way we turn there are fees, fees, and more fees. The mainly Aussie-owned banks…

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