Build Wealth With Old-Time Money Values Our forebears lived through hard times and, if they were alive today, would no doubt remark that we live in luxury by comparison. Despite their meagre household incomes and large families, by enlarge they were able to provide the essentials of life for their families without handouts from the Government and without going broke. Their expectations were simple – a roof over their he...

Money Management for Small Business Owners Cash flow is the life blood of any small business and those business owners who fail to juggle the balance between money in and money out do not succeed. It doesn’t matter if a product or service is the best thing since sliced bread; lack of cash flow will stop a business in its tracks. In the early days of setting up a business, considerable skill is required to ensure there i...

Financial Literacy in Children The OECD has recently released the results of a survey of financial literacy skills and knowledge for 15 year olds in its member countries. Overall, New Zealand students have a relatively high level of financial literacy when compared with other countries, with 1 in 5 having advanced skills and knowledge. Financial education is now more widely available in New Zealand schools, and only 30% o...

Your Biggest Expense Look at your spending over the last year and you will no doubt find that, aside from your mortgage or rent, your biggest expense is food. Cutting back on how much you spend on food each week is a great way to find a few extra dollars to add to your savings. Food bills can creep up if you: Make multiple trips to the supermarket each week Buy food on impulse Have expensive taste. Do a lot of ent...

Plan Ahead for Retirement Living It is said that the older you get, the faster time goes, and if you subscribe to that view, the best time to think about where you would like to spend the last part of your life is sooner rather than later. Later in life, the effects of aging make it harder to analyse complex information and to make sudden changes in lifestyle. Family members sometimes step in to either provide support or ...

How Do You Compare? A survey of around 1000 New Zealanders over the age of 18 undertaken on behalf of the Commission for Financial Literacy and Retirement Income in May this year shows some interesting statistics about how people use their money. These surveys have been undertaken every six months since November 2011 and show fairly consistent results. Spending and Debt Only fifty six percent of people spend less than t...

Money Management for Couples The question of who takes responsibility for managing financial affairs and setting goals and priorities in a relationship is one that has a number of different solutions. The start of a relationship can mean a loss of financial independence that is difficult to adapt to. As a result, some couples choose to split bills in half rather than having a joint account. Financial independence is maint...

Balancing your Assets The measure of your wealth is the difference between the value of your assets and the amount of money you owe to others. Wealth is generally accumulated over your working life, reaching a peak around the time you retire, and then diminishing through retirement. Of course, for some people, it is not quite as simple as this and life events such as divorce, redundancy, illness, or windfalls such as lott...

Review your KiwiSaver Your KiwiSaver investment should be reviewed on an annual basis and June is the best time to do this for a number of reasons. The Government tax credit of around $521 is paid into your KiwiSaver account every July, and the amount you receive will be based on your contributions for the year ended 30 June. To receive the full amount of tax credit, you will need to have contributed around $1,042 between...

Property Investment for Newbies Property investment is a popular way to create wealth, but many would-be property investors don’t understand the complexities of property investment or where to begin. It is essential to know how to maximize the return and minimize the risks. Here are the essential tips for first time property investors: Understand that property investing is a business. It requires planning, discipline, ...