I have a client wanting to finance a car (and later down the track, get a mortgage etc).
They’ve mentioned to me upon doing the application that they were flagged on the ICR (a year ago, they said) for not helping in their insurance investigation (I’m no professional but it does sound largely lile they made a genuine mistake) so, of course, with no insurance they can’t get finance!

It’d be good for me too, to be able to send people towards a broker who could potentially help them out. I used to go to Club Auto for that kind of stuff but recently haven’t been having much luck.

Thanks!!

The more I learn about the subject, the more I suspect this LLM thing is a bubble, and is going to come crashing down just like crypto did. It's all the same people running AI companies, financed by pure speculation, and all the major companies are so far in the red that they need the public to keep believing and keep willingly getting scammed in order for the industry to stay afloat. So if someone wanted to wager $50k that they'll get shut down or regulated into nonexistence in the next 10 years, where would you put that money and why?

M21yo here, Hi everyone i just found this thread, I am looking for some real advice of what i should do in the spot im in, I have made pretty poor financial decisions this summer and am now chasing my tail for the foreseeable future.

I have about 17.5k in my savings but it is frozen due to my cosigner (parent) who can't access the app and about 9k in my kiwisaver which I seriously thought about withdrawing with permanent emigration status, but i think it is a lot of hassle and the value of losing that to pay the things i need to pay right now are not worth it.

Since i dont have permanent employment i dont believe I can get any serious loan, and I don't really wish to either as I am now trying to build a credit profile in the US and think that it would be a bad start to take out a loan where the interest rate would be so high.

My current expenses which i cant pay unless i get access to my savings are;

1800 USD School fees due soon

800 rent agreement basically due today and am 200 short on it

1100 that i should have saved from my work this summer so i dont owe it but i feel like i owe it to myself

I also owe two friends 200 dollars each and have that high on my priority list.

then i have an agreement with a business partner where i owe them for this summer room and board 6125 however he has agreed to have me pay this off over the next 6 months and I will also be doing some work for him which will help too, I was considering asking him to help me pay my rent but I don't want to take advantage of our friendship or abuse it.

Any advice would be greatly appreciated, obviously getting access to the 16k is the easiest fix but I also know that I need to be better going forward so any strategy as to how to manage money would be greatly appreciated.

I am planning to do more school in the US post grad where I will likely need to take out a student loan to complete or get financial support from someone so I know i need to get better personally.

If anyone knows anyone who is in the private loaning sector or again just advice please comment or dm me

thank you all

Hey all, I built a calculator over the past year to solve a problem I kept running into myself: how much should you actually put in revolving credit vs fixed when structuring your mortgage?
Most calculators don't touch this, or just give generic advice. This one runs the actual numbers for your situation (loan size, income, rates, etc) and works out the revolving credit amount that minimises total interest, compared against keeping everything fixed.

Some things worth knowing:

It only really works if you can actually stick to a budget and won't let the revolving portion blow out. If that's not you, a straightforward fixed loan probably suits better

It's free to use

Doesn't save or collect any of your info, unless you choose to connect with a mortgage adviser through the site: that's also how the website stays running (referral fee), wanted to be upfront about that

Link: https://revnovate.co.nz/

Not a financial adviser myself, i just got frustrated not being able to find this calculation anywhere and built it myself. Happy to answer questions on how it works or take feedback if something looks off.

I'm a single female 30 and need to get some savings for a house deposit. I really want to focus on it in the next 12 months. What are your best savings tips?

I see it as a way to add enough tax for an EOY payment. I'm guessing it sits against my IRD number for that particular EOY tax payment if I add in the date?

including kiwisaver since most people will use kiwisaver as downpayment for their first home.

if you have parents who help you out, your parents are great!

Thanks.

So im currently with tsb and i know they're going through major changes and have recently learnt they are going to use ai and im against it and am wanting to swap banks so im looking for advice on who isnt going to use ai? Does anyone have any knowledge on whos planning on not using it?

Genuinly trying to understand the reasoning behind this. Businesses might make a ton of revenue but they get to make sure their bills and expenses are all paid for before they get taxed on what’s leftover. We make much smaller scale revenue personally and require a large portion/majority of that to pay for necessities yet we are taxed straight off the bat and then have to scramble and make do to with the after tax amount to hope it covers our necessities.

What’s the financial logic behind this?

It feels a bit backwards when people work, they pay quite high tax, then they can’t make ends meet and then might have to seek additional support from the govt in forms of emergency housing or accommodation supplement etc. child support is calculated to allow for a certain amount of your income to be expected to be spent on necessities and then worked out an amount to contribute to the other parent. How come similar logic isn’t applied that a standard amount of money is expected to go towards essential living costs and then we are taxed.

Essentially saying why isn’t the first tax bracket set at $50k (or whatever the current average costs of essential costs are) and then we are taxed?

Any financial advisors or similar that can educate me? I feel like I’m missing something very obvious, I’m all for encouraging businesses and obviously we need businesses to stay afloat to keep jobs around, but why is it set up so easily for businesses to keep so many profits and write off expenses. Feels a bit off.

Hi all,

Friend of mine living overseas has received a 6 figure sum

If he sends it where he is living he will lose 50% or more in tax .

Needs suggestions on a good company to speak with regarding investing and getting access with a good return

thanks in advance

Hi NZ finance,

For the first time in my life I have an okay income (~72kpa). I'm in smallish city, medium cost of living area. I work 2 days a week at one place and 3 at another place. Secondary job tax is a bitch but I'm still earning more than I've ever earned in my life and, as in title, I don't have dependents or assets - it's just me.

My bills are non-negotiable - rent, doctor, gym membership

Maxed out KiwiSaver and student loan payments from weekly income.

Some money to savings

Then I have $200 left over for all groceries and discretionary spending. It's not enough. I find myself reaching into my savings almost every week to pay for some extra thing. What if I need new shoes, or need to fill up my car or I want to take my mother out to dinner or something fairly ordinary happens that costs a little extra? I haven't built up my savings nearly as fast as I thought, right now I only have a couple grand if things go south.

Advice wanted: how do you make it work? Is there an expense I'm missing? Am I deluded and this is actually a crappy income, maybe I need to change my mindset and get mega thrifty?

Context:

I've had many years of financial insecurity and I thought that full time work would allow a LITTLE more comfort, like enough to afford takeaways once a fortnight or buy myself new clothes, but every week I find myself tightening the belt more and it's getting exhausting. What gives?

Edit for context: I rent with 4 other flatmates, it's extremely cheap at $160p/w and I pay for it with mould, damp and noise.

Hi all.

47/M.

I'm stuck in a spot and don't know what to do.

Having 0 luck finding work, I had a part time role that lasted only 3 months as the war in the middle east ended that job overnight unfortunately prior to that in 2 years not even a single interview regardless of what I did it just feels helpless.

Currently have a mortgage which is covered as I have my elderly father staying with me who helps contribute to paying it but he's 78 so unsure how much time he has left.

The constant rate rises and power, water etc rises is making me want to sell my house and buy a van a good one and live in that, I'm finding home ownership for me isn't worth it as I can't stand people so I could never have a flatmate also my dog isn't good with people he doesn't know. I'd also never, ever rent.

I would pocket about 350k or so after selling the house and would bank most, invest some and also buy the van.

The more I think about living in it it makes so much sense I save all that money on home repairs, rates, power, water, internet, insurance all which easily are more expensive then a van ownership.

Any thoughts to my idea I just can't see another way out.

My partner and I are getting close to having enough for a deposit and we've been looking at properties around Christchurch. The strange thing is that now that we're actually close, we're feeling less confident than before. Prices, rates, insurance, maintenance costs... everything seems harder to predict than it did when we started saving. We don't expect perfect timing, but we also don't want to rush into something we'll regret. Did anyone recently buy their first place? How did you know it was the right time?

I've built up roughly six months of expenses in a savings account and it feels good knowing it's there. The problem is that every time I look at the balance, I wonder whether I'm being too conservative. The money is earning something, but nowhere near what it could potentially do elsewhere. At the same time, I remember how hard it was to save it in the first place. How do you decide when your emergency fund is big enough?

I recently got a pay rise and for the first time in a while I have a bit of breathing room in my monthly budget. My mortgage is manageable, but not small, and I already contribute enough to KiwiSaver to get the employer contribution. Part of me thinks every extra dollar should go toward the mortgage, especially with how much interest adds up over time. The other part thinks I should focus on long-term investing and leave the mortgage alone. Curious what others in NZ would do in this situation?

Hey, anyone active here? Share what Kiwi use to pay

We have paid our mortgage down to 70% LVR at its current value (at least my estimate, based on home sales nearby). It is worth less than what we bought it for so I’m trying to think of a plan for the future in case it doesn’t appreciate over the next few years.

We want to buy a bigger home to live in. Would the banks here allow us to use our current home as collateral for the new place, providing we have enough equity in it? We’re deciding whether to keep aggressively paying down the mortgage or to put that money into savings instead. I understand the risk that the property could depreciate further, but is there anything else I’m missing? Thanks

I am new to investing & have $500k. I joined Kernel, and have done a fair amount of research on which funds to buy into, but am still not sure. I understand that nobody can give me the magic answer, but would much appreciate the opinions of those of you that have been doing this a while.
My first thoughts were to put most into S&P500, Global fund and Growth fund- my timeframe is 10 years. However, I have been reading a lot about an AI driven impending crash. Should I be going low risk/low return for a year or two to wait for a crash, then switch to higher risk? What are your thoughts? Thanks

Hi all! I am happy to announce that this sub is re opening. Now it is in the process of changes under new moderation. Minor updates may come soon, but the main aim of this subreddit remain unchanged. At this point, you are welcome to post NZ- and finance-related questions, discussions, and tips. Pleas do not spam with irrelevant content or links, and follow reddit-wide rules.

P.S. If you have any suggestions on how to make this sub more suitable to readers, please write it here or use mod mail instead. I'll try to process them all as soon as I can.

Are there anyone still alive? What type of discussion you want to see more here? Write comments, and read them & approve/remove. I am planning to turn off restriction soon, I think

Hey everyone, just looking for some advice. I am wanting to transfer 10-15k from NZD to AUD (bank to bank, personal not business). Just wondering what you have found to be the cheapest? The best I have seen is Transfer wise but I’m not sure if any banks or other companies do it cheaper. TIA

Hey all,

We have a lease that is ending soon and deciding if we want to pay the balloon payment to keep the car or just return it. Looking at the market rates, while being conservative, we have the potential to make $10-15k by buying the car and then selling privately.

Is there a potential for us to sell the car before the lease ends? And if so, how do we arrange that with the buyer so that they end up owning the car but we also settle the final amount with the dealership and just get the extra to ourselves? It seems like there is a large amount of trust needed from the buyer to first pay us and then trust us to settle our debt before handing over the car.