Psychology of spending: How to create good spending habits and avoid keeping up with the Joneses – Mary Holm
I’m not saying that applies to every purchase. We can all look back on certain holidays or concerts with great pleasure, or point to items in our homes that we’ve loved for years. But those are the standouts. So much of what we buy just becomes the new ordinary. Next time you buy a treat, […]
How to protect an inheritance from break-ups – Mary Holm
I would think about it as a retirement fund, which would immediately benefit you because you would no longer have to save as much for that purpose (keeping the KiwiSaver contributions going, of course, to the extent they are matched by your employer or Government). The original writer should of course get legal advice of […]
How to tell good debt from bad debt before you borrow to invest – Mary Holm
A: I haven’t read anything by Thomas Anderson. But I note that he has an MBA from the University of Chicago. I do too, so I’m guessing we may have been taught many of the same basic messages about debt. In my columns and podcasts and books, I often distinguish between good debt and bad […]
How to create inter-generational family wealth – Mary Holm
“The theory is that each time I have a child born, I would invest $22,000. The key is that the investment is not for my children but for my grandchildren. So for example, my child, let’s call him Tim. “When Tim is born I invest $22,000. When Tim turns 65, the investment is worth, say, […]
How to weather sharemarket turbulence – Mary Holm
Because of their volatility, those funds are suitable only for money you don’t plan to spend for ten years or more. But they are also the funds most likely to grow fastest over long periods – considerably faster than term deposits. So, when are you going to switch back? By the time you’re sure the […]
Mary Holm: How to kill debt without selling that classic car or treasured artwork
If you really love your classic car, perhaps keep it if you can, rather than sell it. Photo / 123rf Q: I’m in my mid-forties, with the mortgage on our family home about $150,000 remaining. Our other assets – in various states of liquidity across shares, index funds, crypto, classic car – are also about […]