We all love tax credits, especially at the moment when is getting hard to make it all work each month.  If you have children under the age of 18, Working for Families Tax Credits can put more money in your pocket to help you with the costs of raising your family.  Read more »

I am currently studying at University and have a student loan. I am receiving a student allowance, plus income from a part-time job and dividends from shares I have invested in. I have not declared the extra income I earn, as I am afraid my student allowance will be cancelled. Help! Read more »

First calculate your net wealth now (see how to calculate your net wealth), then follow our 20 tips to end the year richer.  Then on New Year’s Eve 2007, recalculate your net worth and crack open a bottle of bubbly. Read more »

Parents often grumble about how children don’t understand the ‘value of money’.  The good news is that teaching your kids the value of money can be fun and the reward is more than worth the effort. Read more »

1. Put yourself first
So many people receive their pay packet, and then hand a portion of their money to the supermarket, the garage, the department store and so on. In the end, they discover there is nothing left for them. Remember, you worked for it! Read more »

For most of us, our money – or lack of it – is our number one stress. Getting from pay day to pay day can be hard enough without even thinking about paying off more debt, going on holiday, or saving for a house or retirement. Read more »

What is the difference between the way a millionaire spends their money and the how the average person does?

Its an interesting question I often ask my clients or audiences I speak to. The answer is simple, a millionaire spends one minute longer thinking about their buying decision. Read more »

I loved this piece when I read it in a book called Money Secrets by Rob Parsons. I think there is a great lesson in this story. When I am working with clients to get a better handle on their money, car debt is one of the most common forms of personal debt. Often having an expensive car with a large loan is more about image and keeping up with the Jones’ than it is about getting you around. The question to ask yourself is – is the value of having an expensive car worth the stress on taking on such a big financial commitment? Read more »

Over time one often accumulates a number of bank accounts that you don’t need, and you are not sure why you have them and what they are used for.  The more accounts you have the more you pay in bank fees.  One of the keys to good money management is to keep things as simple as possible.  Typically all you need is one day to day account and one for savings.  Your long term investing would be separate to this. Read more »

The first step in a successful savings program is making that commitment to better your future by small and regular sacrifices today.  If you were able to save just $20 per week into an appropriate savings vehicle for 30 years and earn 8% net per year your total savings and interest would now be worth $122,000!  This is an excellent example of how committing to a regular savings plan and taking advantage of compounding interest (interest on interest) over time, can produce amazing results.  This is the equivalent of five Auckland Lattes’ a week. Read more »

“Please help us!! We are a family of four, my husband and our two children.  I do not know how we live!  I call it barely existing! We NEVER have fun anymore! My husband and I fight all the time over money. There is no money to just take the kids to the movies or whatever.  God help us if we ever have an appliance/computer breakdown or the car needs repairs. We have no savings whatsoever.  So we never go away on any holidays.  Last summer I do not even remember taking the kids to the beach as the car needed petrol.  I have a health condition, which stops me from working.  I have never given up on doing my best for the kid’s sakes. Something has to give or I may crack. I cannot see any way out of this. Can you? Read more »

Herbert lived in a small village.  He worked as a farmhand and every week the farmer gave him $200 in wages.  When he brought his money home each week, Herbert and Alice, his wife, would spread the cash out on the table in piles of $10 and then they would begin to plan how they would spend it.  Alice had never passed and examination but she was nevertheless very good with money and she used what she called her cup bank.  Read more »

The start of any good budget or spending plan is the note book!    Its one of the most annoying but useful exercises you will ever do to help you manage your finances better.  I would estimate that at least 80% of people are not entirely sure what they spend their money on and a significant percentage of them have no idea.  The note book exercise enables you to work out exactly where your money goes each month.   Before a realistic budget can be developed you need to understand exactly where your money is going, and I mean exactly. Read more »

For most of us, our money – or lack of it – is our number one stress. Getting from pay day to pay day can be hard enough without even thinking about paying off more debt, going on holiday, or saving for a house or retirement. Read more »