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.
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
Q&As:
– When debt can be good…
– … And when it’s not
– Job seeker benefit not easy to apply for
– Is this NZ Super reduction fair?
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?
Paying off your mortgage allows you to get stuck into some serious saving
You’ve paid off your mortgage. Yay! But what now?
Q&As:
– Should an 18-year-old get a credit card?
– Money questions for 20-somethings
– How can last week’s FIRE fan make it work?
– Beneficiaries should get more, and non-beneficiaries should quit KiwiSaver — reader
– DIY investing in Australia not difficult, says reader
It’s a great idea to get all the incentives in KiwiSaver
Employees usually receive their full employer and government contributions, unless they are on a savings suspension. But what about everyone else?
Q&As:
– The 3 ways a reader has “chowed through” her mortgage
– It’s not wise to skip health insurance altogether
– Reader gives us a stats lesson, through Bonus Bonds
– Banks’ bonus savings products too complicated
– 2 readers tell of easy ways to give to charity
– No I don’t screen readers’ letters because of their attitudes
Notes from a conference
Westpac Massey Fin Ed Centre conference on “Building financially capable communities: our pathways to success”
– Current Financial teaching in schools is not effective, especially for lower sociology economic kids
– Self efficacy — whether you believe your actions and effort will affect your outcomes — is more important to wealth than things like financial literacy. Can it be changed?
– Changes coming to regulate payday lending. Will they help?
WOMEN AND MONEY
Q&As:
– A new kitchen might be best use of $15,000 no longer needed
– What can 66-year-old do to improve her situation? Maybe work longer
– How to find a suitable managed fund
– When lending to family, have a way to get your money out