Will You Have Enough Money to Retire?

retirement

A scary question isn’t it.  We meet quite a number of people who don’t want to even think about retiring let alone thinking if they will have enough money when they finally do.

 The answer to the question was the subject of a presentation at a network breakfast I attended.  A certified financial planner used a case study to illustrate the point.

We probably all know this: we are living longer.  But maybe we hadn’t quite connected the dots in terms of having enough money to retire on. Continue reading

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When to Teach Children Financial Literacy

Financial literacy for children is a hot topic.  Start them young so they learn to save not spend, is one school of thought.  But what if as a parent, you are struggling with your own financial literacy, can you be a positive role model?

Children and money is always a very interesting topic of conversation.

The question of what to teach children about money and when to start is something we are asked quite frequently.

We really like Rob Stocks article Cents and Financial Sensibility , his 10 point checklist, while somewhat tongue in cheek, does have a few gems in it. Continue reading

Could Your Relationship Survive a Mortgage Increase?

Mortgage IncreaseYahoo, you have the got the house!  It’s most parent’s dream is to see their children in their own home, just like them….its the pinnacle of success.

But now you have to face the fact that you have a home but you also have a mortgage and if you live in Auckland (NZ), that could be $800,000+ just to get into an ‘averaged’ price home.

On top of the mortgage there are all the other expenses that go along with home ownership like rates, insurance, maintenance.  Then, possibly additional transport costs if you have moved further away from where you work to get onto the property ladder. Continue reading

Why Can’t We Make Saving Fun?

Saving money. We all know we should be doing it for retirement and have money tucked away for a rainy day.  But it is harder said than done.

The reality is, if you don’t pay yourself first, you will end up paying yourself last and there won’t be anything left!

But saving money just isn’t as much fun as spending it.  Saving money for retirement is just too far away when you are in your 20’s or 30’s, having the newest and latest piece of technology is much more exciting.

Gerry Mitchel in his recent article for The Meridian Star  ‘The Psychology of Saving’ makes some very interesting points. Here is a snippet. Continue reading

Why is it so Easy to Spend Money?

easy to spend money

While this sounds a really simple question, the answer isn’t as straight forward as we would probably like it to be.

This simple question actually has two parts to it.

The first is why do we spend money and the second is what makes it so easy.  So, let’s look at these two components in isolation and put them back together.

The first question: Why do we spend money?

Continue reading

3 Things to Improve Your Money Happiness

money happiness

Candidsnapphotography.com

“l’ll be happy when I get the pay rise” or “I’ll be happy when I get a ………”  Just insert whatever the word is for you.

Why do so many of us wait to be happy?  What is wrong with being happy right now?  And, why do we look to money to make us happy? Continue reading

Three Critical Rules of Money Management

coins_2Happy New Year!  We hope that you have had a fantastic time over the Christmas/New Year period and enjoyed a least a few days off.

It’s (late) January, a time for reflection about last year and looking ahead at self-improvement for this year.  Once you have worked through the diet and exercise goals (they always seem to be fairly near the top of my list), there’s the money planning for the year.

Here are the Three Critical Rules of Money Management that you need to incorporate into your planning.

Continue reading