Articles

Now is a good time to review KiwiSaver decisions

If you’re using this time of year to review your finances, don’t forget to add KiwiSaver into the equation.

Plan your Christmas spending and have a Happy New Year!

The recession has prompted many people to focus on their financial situation and take better control of their spending.

Insurance – how much do you need?

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.

Getting help with your finances

Managing your money can be hard to do all by yourself. Resources like Sorted can take you a long way.

Fixing mortgage knowledge gaps

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.

No change to NZ Super in Budget

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.

Tips for coping with redundancy

If you have lost your job or are worried about being made redundant, there are steps you can take to ease the financial pressure.

Mortgage holidays a last resort

In the past, some mortgages have allowed borrowers facing financial difficulties to take a "mortgage holiday" for up to three months.

Changes from 1 April 2009

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.

Dealing with reduced investment income

Tips for dealing with reduced investment income in retirement:

Glossary: investment
A way to use your money to make it grow.