Update September 08

Update September 08

Dear My Plan user

There are lots of new things to see and do on Sorted this month:

Sorted's got a new booklet

Our new booklet "Sorted - Your guide to getting there" covers six steps from setting goals, making a budget, managing debt, saving, retirement planning to protecting assets. It also includes a useful glossary that explains financial terms like compound interest, equity, net worth and PIEs.

 

You can order free copies of "Sorted - Your guide to getting there" by calling 0800 SORT MONEY (0800 767 866) or you can download or order copies from sorted.org.nz. The booklet is also available free from all branches of ANZ and The National Bank.

Best regards,

The Sorted Team

Hot links

Tip of the month

Know your net worth (the difference between what you own and what you owe) and set goals to increase it.

Glossary: debt
Debt is what you owe - it comes in many forms, including mortgages, personal loans, credit card balances, hire purchase agreements, loans from family.
Glossary: interest
Money paid in return for the use of money. If the bank is using your money (in a savings account) they pay you interest. If you are using the bank's money (via a loan), you pay the bank money.
Glossary: equity
The amount you would get if you sold an asset and paid back any money you owed on it. For example, if you have a house worth $350,000, and a $300,000 mortgage, your equity in your house is $50,000.
Glossary: net worth
Your overall financial position - the value of your assets minus your debts. Or the difference between what you own and what you owe.