Financial misbehaviour disappointing. Ironically, a survey on New Zealanders’ financial behaviour was released just days before Christmas — a time of much financial misbehaviour, when everyone’s saying, “I don’t care what it costs, I’ve just got to buy something for Uncle Fred.”
Q&As: Use accessible KiwiSaver money to repay credit card debt, and probably mortgage too; What exactly does growth in GDP mean?; 3 readers are unhappy with charities asking for more…; And a fourth points out how complicated it can get; An error last week about donations to St Johns?; Reader happy with his healthcare insurance.
Let’s educate our way out of 500%+ loans. When I first saw “Annual interest rate 547.50%” on a New Zealand website offering loans, I thought there’d been a mistake. But no. That’s the rate for a small, short-term cash loan from www.savemybacon.co.nz.
How to join the new debt cutting trend. We’re all living through three “great transitions”, said the keynote speaker at a recent conference. One transition is from West to East — with the growing emphasis on China and India, another is from analog to digital, and the third is from debt to saving. Let’s look more at that third transition.
Q&As: No clear-cut answer on whether’s it’s better to slash debt or save for Christmas; The best way to make use of the student loan repayment bonus; Student loan holder living overseas is foolish to ignore his loan; What’s the point?
Q&As: Three readers offer advice to early 60s couple looking for jobs — go and look around the country; check out motels; try a B&B; AMP responds to a KiwiSaver’s concerns about returns; A Christmas message; More letters from readers giving advice to couple seeking work.
Columnist is wrong — mortgage repayment is well worth it. Contrarian investing — when you put your money into investments that most people are getting out of — sometimes works well. Such investments are usually cheap. But should we extend that to borrowing when most others are repaying debt?
Cries of indignation, shock and fear from Credit Card Land. Three readers coming from three quite different perspectives responded to my last column about repaying credit card debt. One slightly indignant reader always pays his credit card bills in full, another was shocked at what happened when he didn’t one month, and the third has run up a $7000 credit card debt.
Have I got a deal for you? Pssst, want a fantastic deal? I may be able to get you into an investment with returns of just under 20 per cent a year, every year, after fees and tax. And it’s risk-free…
Q&As: How to find a good financial adviser; Difference between an adviser and a fund manager, and how they charge; Adviser should always make high-interest debt the top priority; 70-year-old KiwiSaver’s plan for her grandchildren.