Debt repayment

NZ Herald 8 May 2021

Q&As:
– Mindful Money website helps you invest in what matters to you
– 3 KiwiSaver providers invest in community housing
– Another organisation helps people in debt traps
– Overpaying tax leads to big smiles
– 2 Q&As on tax ramifications of parents helping children into housing
– Readers wants unpaid work acknowledged

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RNZ Radio 6 May 2021

Changes to consumer lending – harder to borrow but less spiralling debt
Notes from Financial Services Complaints Ltd conference on May 4
– Changes in effect last year: Caps on interest and fees.
– Changes in October 2021: Lenders must assess whether borrower can afford loan.
– Consumer Data Right: Government considering this. Consumers can choose to give their financial data to providers, budgeting platforms or comparison websites, etc.
– Another topic: “A complaint is a gift”.

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NZ Herald 1 May 2021

Q&As:
– Where to get help for worrying family member
– One way to help your child into the house…
– … And tax changes shouldn’t get in the way
– Capital gains already taxed if you aimed at profiting
– Tax on NZ Super when you continue to work
– Quitting job ‘best thing I could have done’

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RNZ Radio 11 February 2021

Is paying down your mortgage still the best strategy?
What to do with extra savings — beyond KiwiSaver minimums etc.
Also lump sums — inheritance, redundancy, win
– Mortgage used to be the winner — after include tax and fees. Now — with 2–3% loans?
– Other options: more into KiwiSaver, non-KiwiSaver funds, shares, rental property?
– The main issue: risk — needs to be high enough risk, long-term. Can you cope with volatility? Are you strong financially?
– Other issues: security (psychological and financial), simplicity, but diversification, learning about markets
– Penalties for paying fixed-term mortgage early
– Conclusion: perhaps do what you want!

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NZ Herald 3 October 2020

Q&As:
– Rule shows how long it takes for an investment — and a debt — to double
– One reader quits Bonus Bonds for term deposits…
– … While another suggests a way to keep the fun rolling on
– Bonus Bonds exit annoys businessman
– Move from term deposits into KiwiSaver fund ups the volatility
– Better to leave the money in two countries than one
Plus:
– Your questions, a webinar and a guide to investing

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RNZ Radio 24 September 2020

Handling debt — from mortgages to buy now pay later.
– Worries — job losses, rising interest rates
– 2 types of borrowing — for things that grow in value and things that don’t
– Deferring payments — what that means
– Pay off highest interest first
– Set up automatic payments
– Add to mortgage?
– Buy now pay later. No interest but fees if late.
– In trouble with a loan? Talk to lender.

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NZ Herald 18 July 2020

Q&As:
– 72-year-old should buy house she rents. Plus how to make her savings last
– Last week’s indebted reader should get a mortgage
– No choice but to apply for overseas pensions
– No government handouts without rules — but help is available

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NZ Herald 16 May 2020

Q&As:
– Am I helping the big guys at the expense of small investors?
– Why you might want to be in more than one of your provider’s KiwiSaver funds
– Tax on KiwiSaver and other funds is gentle
– Limit buys can work well when buying shares
– Investing versus paying down mortgage in low-rate environment …
– … and taking diversification into account
– Be in KiwiSaver as well as making extra mortgage payments
– Take mortgage “holiday” or spend savings?

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