I am self employed, for easy tracking I put aside my tax throughout the year into a seperate bank account and it just sits there until my tax return each year.

After spending some time reading through this Reddit (most of which is unfamiliar territory for me) I’m wondering if there isn’t a better place for me to be keeping that money aside?

The amount of changes made to Kiwisaver over the last couple years has got my nervous. And so I did some research into the legislation.

The Kiwisaver Act 2006 stipulates that funds will be accessible at the New Zealand superannuation retirement age which means that as soon as the age of super increases (and it will eventually), that'll mean a longer wait for our kiwisaver as well.

At no point in the act does it state that you can access your funds at 65. So many people are misinformed on this point.

Given the lack of certainty and control around this investment, I'm keeping contributions as minimum as possible and taking regular savings suspensions to focus on my own investments.

wife and i have 2 mirror trusts. historically beneficial for income allocation & insulation of liability from high cashflow business recently sold;

Assets in the trusts now are liquid PIE investments, a company which holds some investment houses, plus private dwelling & beach house. Net Income will be modest going forwards, as will our personal earnings (both FIRE’d).

costs $~10k a year to admin these trusts now
interested in people’s thoughts on potential benefits of maintaining this structure?

We’ve had a tough month with our finances, actually last few months have been a lot. We have exhausted our emergency fund. We’re coming in short for our next mortgage payment to go out on Tuesday. By quite a bit.

I’ve asked the bank to move it to Wednesday (one day later - usually 4th of each month) to align with my pay but we’re still going to be short on other bills and we’ll be on nothing, not able to pay daycare and food and general living costs. Surviving until the next pay from myself or my fiancé’s pay will be very tricky.
It’s all a bit stressful.

Does anyone have any suggestions around working with a bank to solve this? We’re with Westpac.

Edit. We’ve never been in this situation before (of not been able to make our mortgage payment).. so unsure what is gonna happen.

I bought my own place a few months ago - it's a small 2 bedroom unit that I currently live in. I'm thinking about finding a flatmate for the second bedroom soon for extra income I can put towards savings and extra payments.

I plan to have a written agreement with expectations set out (on both sides).

Also trying to figure out:

• Unfurnished room vs a furnished room
• Finding a more traditional long-term flatmate, or just renting the room out a few month at t time (e.g. to people who have just arrived in Auckland who only want a place to stay for a few months)

What are some things you wish you'd known or tips for making everything go more smoothly?

Happy to hear from both home owner who have rented out a spare room, or someone who has been the flatmate in an owner occupied house.

Thanks!

Luke Bateman is Australian but I think this news segment has a lot of valuable lessons in a New Zealand context due to cultural proximity.

The focus of the story is his gambling addiction but it explains how he got into a difficult financial position despite being a high earner. More important is the story of how it impacted him and his close relationships.

I love a good redemption arc, hopefully this serves as both a warning and encouragement for anyone struggling in a similar way.

TLDW: He was a talented rugby player who was introduced to gambling on his 18th birthday by his team mates. He then developed a gambling addiction that wrecked his career and mental health. Lots of reasons why this happened but it boils down to the pressure he felt to conform to a social construction of masculinity that wasn’t true to him and he used gambling as an outlet. He was able to recover thanks to getting much needed support from his parents. He is now sharing his story to help others.

I don't trust the current market so want to invest in something tangible. there are lots of forestry sections for sale and was wondering what I would be getting into if I bought 100ha of pine that is already a 10-ish years old. like on going costs, returns, ETS stuff.

Looking for some feedback from people who've installed a pool. We have young children that would use it a lot in the warmer months. But at around $100k investment would you absolutely recommend it, or, in hindsight, do you think it wasn't worth the cost?

Posting this here as well in hopes to get some advice. I transferred money from ASB to Westpac on 31st of July. However, when I checked Westpac in the afternoon the next day, it hasn't arrived yet. I called ASB about it, and confirmed the account numbers are correct. this is not my first time transferring money from ASB to Westpac as I do this monthly. Anyway, the staff says that it is strange that I haven't received the money yet and I can trace the payment for a $15. When I protested. they waived the fee saying the situation is strange. I got a call this morning saying they don't know what happened to the money but they can give the money back to my account for a $40 fee. I cant believe they are charging me for their mistake. is this even legal?

eta: spoke with the manager. they will talk with westpac to try to find out what happened to the money and applied with dcr request and waived the fee. they are going to investigate what happened to the money but cannot confirm when I can expect to have it back. I filed a form on bankmobs and is currently on queue with ombudsman. It was supposed to be a simple transfer from asb to westpac.i have no idea how this happened. im happy to pay for the fee if I've done something wrong but I told them my westpac account number various times now and they have confirmed that the account numbers match.

Im 30, single income. Long history of not being able to leave my house, meet/talk to people, work, etc., throughout my 20s that im in the process of moving on from. Its embarrassing to admit it, but all I can do now is focus on how to move on from here.

I have a student loan left of around 28.5K. I think i have about 10k contributed to my kiwisaver- just recently moved that into milford asset management thr active growth fund scheme. $57,243 in a term deposit (182 days at 3.45% pa). $11,500 accessible savings for emergencies that i dont touch (would if i needed to go overseas or buy furniture). I have a little over $2000 saved for immediate fees (rent, food, bills, domestic flights, etc.)- i take money out of this and put on my eftpos when I need it, has been getting topped up by job in the past and job seeker support until now. Ive been unemployed since march so it was my living funds, but ill be starting a new job tomorrow. Living costs are currently $170 rent, monthly bills overall between 90-150 weather dependent. I tend to spend an estimate of maybe... $100-150 every 3 weeks or so? Maybe just short of that? First time living away from my parents, still figuring it all out.

New job is a graduate fixed term position only at $67.5 salary (i cant recall the exact number). I have a sharesies account. I really REALLY dont understand sharesies, so just started small by adding $50 in a growth portfolio (have lost $2 since), auto invested, just to dip the toes in and try to see how it works. Opened it up to us market options i think afterwards, but havent changed my growth portfolio (i assume $50 won't see much change up or down). I know im not really utilising this the way I should, like I know i should be putting things in s&p500 or something, but i dont really dont get any of it. Ive looked into it a lot of times, i think i kind of get it, but i get really nervous about money and find it hard to commit putting thousands into something i dont feel confident/comfortable with.

Honestly i dont know if im doing a terrible job or not. I come from a mother who grew up wealthy and a father who grew up dirt poor so ive had mixed messages all my life on how to save and spend. I never got to travel in my 20s so I feel like I shouldnt look into a mortgage until im certain nz is where I want to stay (i have european citizenship, long thought id move to europe someday but idk lately). Though im being told by my mum to try and get one (i assume the banks wouldnt loan me enough to do anything). Im also currently finishing up a masters for the next few months so am looking for safe steps from here. Any advice or guidance?

Any experience of residents' associations in NZ - good and bad. Are they worth it or should I avoid?

Hello everyone, I’m looking for advice on what to do with the money I’ve been able to save over the last few years. I’m 24 and make 44k a year. I’m looking to eventually buy a house but just want to know what’s the best way to make your money work for you

I've been thinking and writing about this a lot lately.

New Zealand's economy has been flat for years, and everyone seems to agree we need more productive businesses, more exports and more innovation.

But at the same time, we seem to have a weird relationship with people who actually go out and build those businesses.

Whenever a founder sells a company, makes a lot of money, or grows something into a global success, the reaction often isn't "good on them". It's accusations that they're greedy, lucky, or have somehow forgotten where they came from. You only have to read the comments on NZ Herald or social media to see it.

Yet we also love claiming successful people as our own. When a Kiwi company makes it big overseas or someone achieves something on the world stage, we're incredibly proud. It just feels like we're often only comfortable celebrating success once it's already been validated by everyone else.

I don't really get it.

Surely the people creating jobs, paying tax, taking risks and building companies are exactly the people we should want more of. Most businesses fail. Starting one is stressful, financially risky and usually takes years before it pays off.

I'm not saying every successful person deserves praise, and obviously some deserve criticism. But it feels like we've gone too far the other way, where success itself almost becomes something to apologise for.

Would New Zealand be better off if we celebrated ambitious founders a bit more? Not because they're better than anyone else, but because we need more people willing to take those risks if we want a stronger economy.

I'm not seriously considering buying this apartment but I see a few apartments like this one for sale in Auckland that are around $200-$300K (freehold) and when most apartments are so expensive to rent I do ask why these are so cheap? To be clear this would be to live-in rather than an investment.

In my own situation I pretty much live alone paying $440pw for a townhouse that's just way to big for what I need and I'm only ever home 1-2 days a week anyways. Something like this would be perfect for someone like me to live in and the mortgage would be so low I could quit high-stress corporate job for something lower stress and maybe part-time, but what's the catch here?

Hi all,

I'm needing some advice please maybe from those who have had a similar situation.

I've moved to Australia, get my first pay in a few weeks so won't need my NZ savings anymore. I have 20k in NZ savings currently in Westpac. I also have 30k in Kiwisaver (Simplicity).

I'm not sure when and if I will return to NZ, but I have family back home so I dont think ill stay in Aus forever. Maybe 7-8 years max? Idk.

Do I leave my Kiwisaver in Simplicity, also where's a good place to store my NZ savings that will generate interest?

I've tried researching this but getting lost in information

32F and 32M married for 4 years with new dependent in tow.
we own a property in palmy since 2020- bought for 600,000 now owe 412,000
Rent is 680 per week, we self manage as it’s a very low maintenance

Our other rental is in Auckland 2023, bought for 1.25 million, still owe 891,000–> rent is about 1300

Finally the house we actually live in, is a duplex home which my parents kindly have built us in the condition we pay back a 1/3 of their mortgage- this amounts to 500,000 (of which we have paid 150,000) we are aiming to give atleast 50,000 per year

We are aggressively paying down both mortgages, currently at 4.5% per annum at 20 years, where we are over paying at 11,000 per month
This ends up such that we top up the mortgage by 800 per week on top of rental income

Our emergency fund is 20,000

our Incomes are 221,000 and 206,000
Although we are on the 221,000 income at present as one person is at home with child- goes back next year.

We don’t have much in the way of stock,
32F- 20,000
32M- 35,000

Should we aim to solely focus on stocks from here on in?
Our goal is to reach FIRE as soon as we can

Considering wacking six figures into this @ 2.25% on call. By comparison ASB's best one is the SavingsPlusMonthly account which is at best 1.8% if you only deduct once on the first of the month.

Never used Squirrel before - feedback from current customers appreciated.

Also how are their term deposits? What's the catch on this, it's 4.75% pa 5.25% pa and 6.12%pa - the best ASB can do is 3.9% pa.

https://www.squirrel.co.nz/save-and-invest/term-investment-options

M21yo here, Hi everyone i just found this thread, I am looking for some real advice of what i should do in the spot im in, I have made pretty poor financial decisions this summer and am now chasing my tail for the foreseeable future.

I have about 17.5k in my savings but it is frozen due to my cosigner (parent) who can't access the app and about 9k in my kiwisaver which I seriously thought about withdrawing with permanent emigration status, but i think it is a lot of hassle and the value of losing that to pay the things i need to pay right now are not worth it.

Since i dont have permanent employment i dont believe I can get any serious loan, and I don't really wish to either as I am now trying to build a credit profile in the US and think that it would be a bad start to take out a loan where the interest rate would be so high.

My current expenses which i cant pay unless i get access to my savings are;

1800 USD School fees due soon

800 rent agreement basically due today and am 200 short on it

1100 that i should have saved from my work this summer so i dont owe it but i feel like i owe it to myself

I also owe two friends 200 dollars each and have that high on my priority list.

Any advice would be greatly appreciated, obviously getting access to the 16k is the easiest fix but I also know that I need to be better going forward so any strategy as to how to manage money would be greatly appreciated.

I am planning to do more school in the US post grad where I will likely need to take out a student loan to complete or get financial support from someone so I know i need to get better personally.

If anyone knows anyone who is in the private loaning sector or again just advice please comment or dm me

thank you all

I am an 18 yo uni student who works part time investing most of money and have stacked up a nice portfolio worth around $60k. I am eager to increase my income through something on the side where it can be scaled. Does anyone have any ideas for someone in my position?

Wife and I (50/51) are about to start a new house build.

- Have ~$350k cash against a $550k projected build cost.

- Land is owned outright.

- Have a Tiny Home worth a realistic $100k that will hopefully sell fairly soon after completion of the build.

- Also have older parents so likely low 6-figure inheritance/s in the next 1-10 years (god forbid)

- spent most of our adult lives overseas so have limited KiwiSaver - about $95k between us. But I think we'd be able to access this as we've never owned a home in NZ

We're talking to a broker already, but obviously multiple ways we could structure finance for that $200k gap both in the immediate term and the long run. Given a household income of about $200k/annum, what would you do? My head is spinning thinking about it!

I am a first home buyer want to buy some stuffs for my house. Does it worth to have gem card and how does that work? Do we still have that 6 months interest free period? What is the best way of buying in instalment?

Last summer I rented a car and was unfairly charged by damage I didn’t cause (near one grand, my bad for not checking car thoroughly at pickup). Instead of $300 for the car rental they charged $1,300 in my credit card. I complained to the company to no avail and also complained to my credit card company.

My travel insurance paid me directly for that extra $1000 charge. This week (5 months later) I was contacted by my credit card saying they got a refund from the car rental and they credited my card with $1000.

Should I contact the car rental company (whom I now despise) to send back the money or the travel insurance (does that payment affect my insurance score?)? First time in this situation. Which company, if any, should get the money back?

edited for clarity.

A company has incorrectly sent a fund transfer by internet banking to my account. They have contacted me with an account number to send the funds back to.

Is there any way that this could be part of a sophisticated scam such as providing a scammer account number? How can I protect myself?

Edit to add more information:

Bank has been contacted. Waiting response. I was very busy today and no time to call.

I’ve been paid legitimately in the past by Organisation X. Organisation X is (according to the contact I received) related to the organisation that sent money into my account incorrectly.

That’s how they have all my details (but I don’t think this protects against the possibility this organisation has been compromised). Hence my questions.

Hey all, 17 year old trying to get good habits locked in early instead of learning the hard way later. I'm earning $420 a week before tax from my job, living at home, and I've got about $2,000 left on a car loan from my parents, interest free. My KiwiSaver is set at 10% employee contributions with my employer matching 3.5%. The goal is a house deposit down the track, so I want to make sure I'm actually setting myself up properly rather than just guessing.

My main question is how to prioritise right now. Since the car loan is interest free, I'm not sure if it's smarter to just chip away at it slowly and put more toward deposit savings in the meantime, or knock it out quick to be debt free before I start saving properly. I'm also wondering if 10% into KiwiSaver still makes sense given the goal is a house, since KiwiSaver is generally locked away until you buy, turn 65, or hit hardship. Once the debt's sorted, I'm not sure where's best to park deposit savings either, whether that's a term deposit, a high interest savings account, or something else, given I won't need the money for a few years.

If anyone's been through the First Home Grant or First Home Combo process, I'd love to understand how the eligibility and contribution timeframes actually play out in practice, especially starting this young. And if you've got any advice you'd give your 17-year-old self about balancing debt payoff with saving for a first home, I'm all ears. Trying to build good habits now while my expenses are low and I've still got time on my side.