Insurance is a way to protect you and your family from financial loss if the unexpected happens to the things you own, your health or your ability to work.
One in five home owners with a mortgage don’t know that it is better to have a fixed rate rather than a floating rate when interest rates are expected to increase.
Glossary: fixed rate
The rate of interest paid on a loan may be either a fixed rate or a floating rate. For a fixed rate loan, the interest rate is set at the date you take out your loan and remains the same throughout the term of your loan, irrespective of whether bank interest rates rise or fall.
Glossary: floating rate
The rate of interest paid on a loan may be either a fixed rate or a floating rate. For a floating rate loan, the interest varies from time to time. If interest rates fall, then so does the amount you have to repay. Or you can choose to continue with the same level of repayment and reduce the term of your loan. However, if interest rates rise, then the opposite effect happens, either your repayments need to be increased or the term of your loan is extended.
Glossary: interest rates
The amount of interest you pay on a loan or are paid for an investment, usually expressed in a percentage.
The government’s decision to suspend automatic payments to the New Zealand Superannuation Fund does not affect New Zealanders’ fortnightly NZ Super payments.
Glossary: automatic payments
Automatic payments (APs) are a way of paying someone a set amount direct from your bank account, usually on a fixed day of the month. Automatic payments are ideal for bills that are the same amount each month, like rent.
1 April 2009 marks the introduction of tax cuts for some taxpayers, a new tax credit, and significant changes to KiwiSaver. As well as annual changes to NZ Super rates and student loans.