Save the Nation New Zealand is on the brink of a financial crisis unless national savings increases, according to the final report of the Savings Working Group (SWG). Government, households and businesses are all guilty of overspending and borrowing too much money, leaving our economy in a vulnerable state. The SWG has recommended policies to increase the quality, quantity and rewards of saving. These include reducing ser...

What Women Want A survey undertaken in the USA in 2010 by Ameriprise, a financial services company, found some interesting differences between men and women when it comes to getting financial advice. To begin with, women are much more likely to seek financial advice than men (46% vs 38%). When asked about the importance of specific attributes of advice, there were clear differences between men and women. Women place a muc...

Be Credit Card Smart Credit cards are both a convenient way to pay for purchases and a trap for those who are easily tempted by access to credit. Being smart with your use of credit cards can help you manage your money better and avoid getting into too much debt. These simple tips are all you need to be credit card smart: Set your credit limit at a level you can afford to repay within the interest free period. Know th...

Make More Money It’s all very well trying to save by spending less than you earn, but sometimes the costs of living and bringing up a family mean there simply isn’t any spare cash. In that case, to get ahead you need to increase your income. Here are some ideas for how to make more money. Firstly, make sure you are being paid enough for the work you are doing now. If you are in business, can you increase your prices? ...

Get Rid of Debt Starting the New Year with a pile of debt is not a good situation to be in, but it is a common problem. If you are serious about getting ahead financially, then getting rid of debt should be one of your top priorities. Here are five steps that will help you get rid of debt faster: Step One - Don’t add to the debts you already have. Debt arises when you spend more than you earn. You can avoid adding to yo...

Five New Year's Resolutions Regardless of whether your financial goal is to create enough wealth for financial security or a multi-million dollar empire, the starting point is the same. Fortunes are only made on a solid financial base and to build one means getting rid of some old money habits and developing some new ones. Here are five resolutions that will help you build wealth in 2011:   Spend less than you earn Spend...

Where to Invest in 2011 Investors with cash on their hands face a huge dilemma. Should they leave their money in the bank at a low rate of interest, or take a risk and go back into the investment markets that have left many with a much reduced level of wealth? Investor confidence has been left shattered by the Global Financial Crisis but will return. As we move into 2011, we should reflect on some of the lessons learned i...

Money for Christmas Giving money to kids for Christmas might seem like an easy escape from choosing a gift but in fact it can be a great way to teach kids important lessons about money and life. If your kids receive money from you or from others at Christmas encourage them to make a wish list before they spend it. Against each item on the wish list, write the approximate cost and add up the total cost. The first lesson fo...

Your Leaky Money Bucket Money always seems to disappear faster at holiday time. Most people are short of money not because they buy big expensive things but because they spend little bits here and there. This kind of spending is what I call ‘Leaky Bucket Syndrome’. Imagine your bank account is a bucket into which your income is paid. Now imagine your bucket has many tiny holes in the bottom of it. Spending your money ...

Planning a Holiday? If you are going on holiday no doubt you’ll have a few tasks on a checklist to be done before you leave; cancel the paper, get someone to feed the cat, arrange for the lawns to be mown, check the oil and tyres on the car etc. While it’s a busy time of year, it’s a good time to make sure your finances are in order too.  Here’s a checklist of important things to take care of before you go away:...