How to get through to people who need a financial wake-up call – Diana Clement
Sometimes, sadly, people need to ‘bottom out’ before the wake-up happens, and they can make radical changes to the way they live, said Tom Hartmann, Sorted’s personal finance lead. That doesn’t mean that caring contacts can’t try. Approach the conversation with empathy, not judgment. If you didn’t care, you wouldn’t be involved – and showing […]
How to stop living payday to payday – Diana Clement
When that happened, the couple sought advice through a mentor at Moneywise Manawatū. They were advised to use the No Asset Procedure, which is a type of insolvency, which enables people to clear existing debt. That gave them breathing room. Until discharged, however, the pair couldn’t borrow or get credit cards. “It’s like being blacklisted,” […]
How to avoid being scammed by artificial intelligence – Diana Clement
People will find themselves being blackmailed with fake videos. How would a partner, or employer know that the compromising video of you was real or AI-generated? Blackmailers already know to keep their financial demands realistic so the victim will just pay, to avoid the pain of refusing, said Sean Lyons, chief online safety officer at […]
How to manage your retirement savings in your golden years – Diana Clement
The 6% rule allows retirees to withdraw 6% of their total retirement savings annually. The money isn’t going to last as long, but research shows that people tend to spend less as they age, said Alison O’Connell, a member of the New Zealand Society of Actuaries who has a background in the pensions industry. The […]
Debt snowballs and debt avalanches – how to pay ongoing costs in the New Year – Diana Clement
Advisers and mentors such as Lange are often contacted by people in the New Year who don’t know how they are going to pay for essentials. Some people will have overspent, while others may have been through relationship breakups over the summer and have no idea where to start to dig their way out of […]
How to bank better so your money goes further – Diana Clement
Better banking can help make your money go further. Photo / 123rf OPINION Banks make billions from us. So why not get a bit back by using their services more effectively? Start by opening sub accounts and earmark them for mortgage/rent, utilities/fuel, groceries, emergency fund, short term savings, long term savings, and fun. I did […]