On the up: What will higher interest rates mean for real estate investors in New Zealand and further afield?
The Land of the Long White Cloud is shaping up to raise rates and the country may well be a bellwether for the Australia...
As the cost of living continues to soar, saving – whether it’s for your first home, a new car or even an overseas holiday – can seem an uphill slog. Here are four sure-fire tips to help you realise your savings goals.
1. Consolidate all credit cards, store cards or other high interest debt into one loan, preferably your mortgage as it typically has the lowest rate of interest. This will help make repayments easier to track as well as minimise interest repayments.
2. Understand exactly where you spend your money. Try to keep a diary for a week or so to record all your purchases, from your daily coffee through to major commitments. Once you identify where you’re spending you’ll be able to make the most effective cut backs.
3. Create a realistic budget that factors in all major financial commitments, such as your mortgage, school fees and telephone, while leaving a buffer for incidental purchases. Just remember, if your budget is too restrictive it’s going to be impossible to stick to; so set achievable goals and reward yourself when you meet them.
4. Avoid using credit cards wherever possible; if you need a credit card, just stick to one.