Author Archive | Moneymax

1-Track your KiwiSaver

Track Your KiwiSaver

KiwiSaver is an easy way to invest. Your contributions are deducted automatically, along with the contributions from your employer, and every year the Government pays you a tax credit. You could argue that KiwiSaver is a ‘set and forget’ type of investment. However, paying little or no attention to your KiwiSaver is not wise. There […]

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Break Christmas Debt Cycle

Break the Christmas Debt Cycle

There is no doubt that Christmas is one of the most expensive times of the year. Many families find themselves still paying off Christmas debt months later. Here are a few tips to help keep you out of the cycle of debt over Christmas: Set a budget for Christmas and stick to it. Set your […]

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KiwiSaver Investment Strategy

Your KiwiSaver Investment Strategy

Now, more than ever, it is time to make sure your KiwiSaver investment strategy is matched to your investment time frame. KiwiSaver was introduced ten years ago and since that time we have seen strong growth in the share market. KiwiSaver members have not yet experienced a period of high volatility. The share market is […]

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Underspending

Avoid Underspending in Retirement

One of the biggest mistakes retirees make is to underspend in their retirement. Retirement is full of uncertainties, so the safest strategy is to spend as little as possible. There is nothing wrong with that approach if you don’t mind going without for the benefit of your children. However, most retirees these days are happy […]

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first home

Tips for First Home Buyers

The apparent impossibility of buying a first home has many young people questioning whether owning a property should still be part of long term financial plan. Does it really make sense to put aside other things in life such as travel, having children, paying off student loans or simply having fun, just to save a […]

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Robo Advice is coming

Robo-Advice is Coming

The Financial Markets Authority has given the go-ahead for personalised advice to be offered online. Such advice is referred to as ‘robo-advice’. Under current legislation, personalised investment advice can only be given by certain categories of advisers in accordance with the Code of Professional Conduct for Authorised Financial Advisers. From 2018, there will be an […]

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Work to Learn

Work to Learn

One of the best ways to create substantial wealth is to set up your own business. However, not everybody has the skills, confidence or entrepreneurial flair to build a business from the ground up, or even to buy an existing business and grow it. Being an employee puts a definite cap on how much wealth […]

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Get Rid of Money Worries

Get Rid of Money Worries

Managing finances can be very stressful, even if you are savvy with your money. A recent global survey by the Financial Planning Standards Board, an international body which oversees professional standards for financial planners, found that most people feel challenged by their finances. However, people who work with financial advisers feel better prepared to achieve […]

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Buying Happiness

Buying Happiness

In our consumerist society the basic tenet is the more we have to spend, the happier we will be. Research shows that, while there is a link between money and happiness, it is a weak one. However, it is possible to get more happiness for your money by making good decisions about what you do […]

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Investment Time Frame

Match Your Investment Strategy to Your Time Frame

We’ve had a good run in share markets since the Global Financial Crisis (GFC) of 2008. Initially this growth was underpinned by central banks engaging in quantitative easing – otherwise known as ‘printing money’. Central banks released funds into circulation through purchasing securities as a way of reducing the likelihood of economies going into recession […]

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The PYF Principle for Growing Wealth

There are two golden rules for creating wealth that stand out above all others. The first, and most important, is to Spend Less Than You Earn. The second is to Pay Yourself First (PYF). Under the PYF principle, you give yourself top priority when it comes to deciding how to spend your income. Pay Yourself […]

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The Importance of Cash

The Importance of Cash

The word ‘cash’ has a very different meaning now than it did a few decades ago but it is still a vital part of a financial plan. Cash provides liquidity; that is, money when you need it. Liquidity can take many different forms. It can be notes and coin, bank deposits, credit – such as […]

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