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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

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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Housing is one of the largest expenses faced by most households. To assist with this challenging time, the ‘Big Four’ banks (ANZ, BNZ, Westpac, and ASB), as well as some smaller banks and lenders, have announced that customers affected by Covid-19 can apply to go on a mortgage repayment holiday for three to six months. However, this “holiday” might not be as good as it first sounds.... Read more Read more

Dollar-cost averaging is a wealth-building strategy that involves investing money at regular intervals over a sustained period. It is a smart investment technique employed by investors worldwide. This is the opposite of simply investing a lump sum all at one time. Rather than trying to time the market, you buy in at a range of different price points. If you’re a KiwiSaver member and... Read more Read more

The great depression of the 1930’s spurred a “waste not want not” attitude that defined consumer patterns for a generation. Decades later, the oil supply shock in the 70’s led to the first efforts of energy conservation and efficiency. In more recent times, we quickly progressed from usual life to a covid-struck situation. To help keep more funds in your back pocket, here’s a quick-... Read more Read more

Auctions can be a great way to buy a home, however they can also be challenging and stressful, particularly if it’s your first time. Auctions can bring out emotions based on attachment to a potential home, excitement, and sometimes they can also bring out a sort of primitive urge to win. With other methods of sale, you can make an offer, but you usually won’t know how many other people... Read more Read more

Following a decade-plus of generally positive investment markets across the globe, a significant downturn among share markets is finally upon us. Here at Milestone Direct, we don’t pretend to know how bad the downturn will be or how long it will last, however, we do know that some investors will make costly mistakes before values rise again. Here are the four most common... Read more Read more