Recession could be a blessing for most. The response to a question in a recent survey bothered me a little. Asked what they would do with a $10,000 cash windfall, 54.3 per cent of the respondents said they would pay off debt or save the money — down from 58.3 per cent three months earlier. It’s not exactly a huge drop. But I was hoping for a substantial increase.
Ill wind not as bad as it seems. An email from a Christchurch reader has got me thinking. “In any game it is either a win, loss or a draw,” he writes. “Right now there are plenty of losers, nationally and globally — individuals, institutions, banks, organizations, even one or two countries. So who are the winners?”
Christmas giving that makes you happier too. Struggling retailers aren’t going to like this, but how about we make 2008 the year we stop spending ridiculous amounts on Christmas presents we don’t need — and often don’t even like?
Q&As: Does charity begin in the home country? Salvation Army programme looks good; List of overseas charities with Christmas gift offerings; National’s KiwiSaver changes could discourage single Mum trying to get ahead — but there’s hope they will be altered; The whole KiwiSaver mortgage diversion issue will be much easier for many under National’s changes. Plus: Readers on KiwiSaver.
2 Q&As on National’s proposed changes to KiwiSaver. Meaningful Christmas presents. Readers’ views on KiwiSaver.
Is saving always good? In some circles, saving has a bad name. People think it’s about deprivation — “I either save or I spend, and spending is more fun.”
The Other B Word. Budgeting is rather like eating healthily or exercising. Some people like to do it, but for others it’s a chore. And for many it’s a source of guilt. They think they should do it, but they don’t. This article could be yet another telling the laggards how they will be much better people if they keep track of all their spending. But that’s hardly likely to make any more difference than other such articles. As poet Robert Frost wrote: “Nobody was ever meant, to remember or invent, what he did with every cent.”
Highlights from Holm Truths. Over the next few weeks, this column will run highlights from Mary Holm’s quarterly newsletter Holm Truths. Mary’s regular Q&A column will resume on October 27. STUFF AND HAPPINESS: A woman I know wasn’t sure what to do. Should she renovate her current house, or move to a cheaper suburb and buy a house that was already up to the minute? She preferred to stay put, but would have to borrow to renovate and wasn’t sure if she could afford to repay that debt.
Q&As: Three readers defend baby boomers and suggest how today’s young could afford to buy homes; A Generation Xer speaks up for her generation; A reader worries that apartments may lose value.
The other B word: While some people find it easy to follow a budget, others struggle. Here are some tips for the latter group. Also in this issue: From the Mailbox — Couple who sold their house save heaps by renting. But should they wait for a price fall before buying again?