Emergency money

RNZ Radio 18 June 2020

Mixed messages to New Zealanders these days
– Some examples: work from home vs support CBD businesses, Buy NZ goods vs imports
– In more depth: Encouraging you to spend vs setting up your emergency fund
– 2 recent surveys: How big are people’s emergency funds? What are people doing about that?
– The big question: Is it selfish to look after your own finances, rather than helping the economy to recover?

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RNZ Radio 4 June 2020

Keep your hands off KiwiSaver in economic downturn!

Commission for Financial Capability survey results. How we could do this better:
– Sidecar emergency savings fund attached to KiwiSaver
– More use of moneytalks.co.nz to access free financial advice and budgeting help
– Build up your own emergency fund

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NZ Herald 23 May 2020

Q&As:
– Help abounds for young man who helped parents get a mortgage
– My tax info not good enough for accountant
– How to tell how strong your bank is
– Can you be in more than one Simplicity fund?
– House buying plan depends on two impossible forecasts
– Put most of savings into house deposit
– Young man loses house deposit in receivership
– Divorced woman, 59, should put most money into new home

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RNZ Radio 23 April 2020

Take advantage of mortgage rate drop
– Try to keep up old payments and reduce your term and total interest
– Or set up a rainy day fund
– A warning: Don’t expect rates to stay this low forever. How would you cope if rates rise?

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NZ Herald 4 April 2020

Q&As:
– Daughter, 21, puts her Mum right on switching KiwiSaver funds
– Son seeks research on trading versus buying and holding shares, to convince Dad
– Got your visa? Get into KiwiSaver
– Don’t wait until markets recover
– Is it wise to take a “mortgage holiday”?
– Are different bank accounts treated differently if “haircut” happens?
– Should retiree try his luck again on timing the market?
– 20-year-old should get into share market cautiously
– Moving to higher risk is a good move

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Getting a KiwiSaver WOF

GETTING A KIWISAVER WOF — for people of all ages
Worried about how the Covid-19 pandemic is affecting your KiwiSaver investment, and wondering what to do about it?
Or is KiwiSaver the last thing on your mind? Maybe you were auto enrolled and have ignored it since.

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NZ Herald 21 March 2020

Q&As:
– 2 readers ask whether this is a good time to buy a home
– Drip feed into an investment, but preferably not out again
– How COVID-19 affects KiwiSavers planning to withdraw to buy a first home
– 65-year-old in KiwiSaver should relax
– More on “blood in streets” quote

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NZ Herald 1 February 2020

Q&As:
– Reader: “We” are lucky to have KiwiSaver — I’m not part of that “we”
– 2 letters on why KiwiSaver should work for beneficiaries too
– Last week’s correspondent has found a way to spend more, but worries about teen son

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RNZ Radio 30 January 2020

Recommended changes to KiwiSaver
The Commission for Financial Capability has made 19 suggestions on how to improve KiwiSaver. Mary and Jesse discuss four of them:
– Set up “Small Steps”, so people’s contributions rise gradually each year if they wish
– Add “sidecar savings” to KiwiSaver for short-term emergencies
– Exclude fixed fees from KiwiSaver accounts with balances under $5000
– Show members how much their fees are likely to total over the years in KiwiSaver, compared with average fees for that type of fund
Also: an unusual letter from a listener — grow marijuana or join KiwiSaver?

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