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One of NZ’s biggest insurers just ceased offering an insurance product that we’ve long said was nearly always a waste of money: funeral insurance. In fact, this type of insurance policy was placed sixth on our list of biggest financial rip-offs. What is funeral insurance? Not to be confused with life insurance, funeral insurance is a type of insurance policy that can help your... Read more Read more

None of us are perfect – that’s what makes us all human! We all make mistakes (big or small) every day. Sometimes our mistakes are minor with few consequences, and other times our mistakes are major, perhaps we make a mistake which impacts our health, those close to us, or somehow costs us money? We improve our chances of avoiding such mistakes if we’re aware of the common mistakes... Read more Read more

Whenever the economy gets turbulent, the fans of investing in gold emerge. They’re sometimes called “goldbugs” and will shout from the rooftops that the world is doomed, and that the only logical investment is gold. They usually make at least a few good points, and their arguments can sound quite convincing. But, is gold all it’s made out to be, and if so, what’s the best way to invest... Read more Read more

A share market crash is a rapid and usually unanticipated drop in prices. The most recent one was recorded on 12 March 2020, in response to the coronavirus pandemic. Such drops often lead investors to wonder: are such drops normal for share markets, or is this different? You might have heard experts and the media call this a “black swan event”. Defining a ‘black swan’... Read more Read more

Are you ready to expand as the world contracts? Even in the current dire economic situation, plenty of people will still emerge as winners. Winners know that recessions are not something to fear but are rather opportunities for those who are properly prepared. Here are the top seven characteristics of winners in times of a recession: 1. The win-win mindset Winners know... Read more Read more

Sooner or later, you’ll probably deal with some financial stress. Many Kiwi’s are already in this position, which might be caused by rising debt, a job loss, insufficient earnings, high living costs, or even money troubles in your relationship. Whatever the circumstances, being worried about money takes a mental and physical toll, plus it can strain relations with your significant... Read more Read more

No one likes paying more tax – so what’s the likelihood we could be facing a tax hike in the near future? The NZ government (i.e. all taxpayers in NZ) have just borrowed a lot to get through the economic impacts of Covid-19 and the associated lockdown. Cash has been splashed around to try and prevent a worse economic situation than is already developing. Please let us be very clear: we... Read more Read more

A major drawback of KiwiSaver is the fiddling and tinkering to it which has occurred since it began. This is often politically motivated, though fortunately, most of this years’ changes seem to be minor improvements. Read on to learn more. Read more Read more

Before the epidemic struck, in most parts of NZ, home prices had been booming for some time. Reasons for this included record low mortgage rates, building and land restrictions, high immigration, and high levels of employment. The property market is about to undergo a rapid change due to the flow on effect from the virus-related economic slowdown. It is a near certainty there will be a... Read more Read more

The Reserve Bank of New Zealand (RBNZ), who regulate NZ mortgage lending, has decided to remove the loan-to-value ratio (LVR) restrictions until 1 May 2021 in response to the Covid-19 pandemic. This change marks the end of nearly seven years of LVR limits. What were the LVR restrictions? LVR restrictions were limits placed on banks by their NZ regulator to reduce the amount of... Read more Read more

Like a pack of sharks who smell blood, the scammers are already circling. A decade or so ago during the Global Financial Crisis, investment fraud and other consumer scams were rampant. As any crisis spurs a degree of fear among at least some of the population, it’s no surprise the scammers are back in force to prey on people’s uncertainties, fears, and lack of knowledge in some areas... Read more Read more

While no job may be completely recession-proof, some are more likely than others to stay in demand. If you think that there’s trouble on the horizon of your chosen field, maybe you could look for a job or start a business in one of these 10 areas? 1. Medical professional Working as a doctor or nurse can be a great option, but there are many other opportunities as well,... Read more Read more

A recession is a significant decline in general economic activity in a designated region, most often measured by country. It is usually recognised as two consecutive quarters of economic decline, as reflected by Gross Domestic Product (GDP). GDP is the total monetary or market value of all the finished goods and services produced within a specific area – such as a country or state – during a... Read more Read more

Most experts agree that the global economy is currently heading into some type of recession. Many people are already out of work, and many others are heading into a period of economic uncertainty. Yet, in those stories about a coming economic recession, there’s almost always a key part missing: what does it practically mean for me? A recession means a higher unemployment rate, which... Read more Read more

There is a near certain way to become wealthy that doesn’t involve the lotto, an inheritance, or a get rich quick scheme: simply invest for long enough. Given a long enough timeline, your chances of becoming wealthy are close to 100%. Accumulating wealth is the ultimate long game. If you stick with it for long enough, there are only two outcomes: You become wealthy (... Read more Read more

Most financial experts say that you should have a sum of money set aside that totals at least three to six months of living expenses. This should be readily accessible and is commonly called an emergency fund. Despite this, according to NZ comparison site “Finder”, as of February 2020 more than a third of Kiwis only have enough money to get from one payday to the next, and one in five... Read more Read more

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