MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise International Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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20 Money Habits that Keep You Poor

The road to financial freedom isn't easy in New Zealand. Our guide delves into common mistakes that hinder many from achieving true financial independence, offering insights to steer clear and thrive.
Money Habits that Keep You Poor
Updated 8 November 2023
Overview:
  • New Zealanders without savings are the most financially vulnerable; worryingly, there are more and more of them, per recent research.
  • This guide is published to help everyone know that bad money habits can be easily changed, and the results are significant. 
  • Life is too short to be in debt - debt is super lucrative for lenders (banks, credit card and loan companies, etc) but hard to shake off for everyday New Zealanders.
  • Our research into debt repayment apps, or the lack thereof, suggests few repay consumer debts with any urgency once they're on the treadmill. This means less disposal income; after-tax income is directed to interest payments and repayments. It's nothing other than a waste of money - we want to help anyone in this situation change simple habits to get out of it. 

This is the first edition of this guide, and we plan to keep building on it; please contact our research team. with any suggestions or questions. 

​Important: The word "poor" isn't derogatory; many hard-working New Zealanders find themselves without any spare funds, week after week, year after year. This guide is aimed at anyone actively looking to cut back on non-essentials.

Related Guides:
  • 20 Things to Stop Buying to Have More Money
  • 20 Indicators You're Doing Well Financially
  • 20 Must-Know Money Lessons (Learned From Experience)​

MoneyHub Founder Christopher Walsh Explains Why We've Published this Guide:

"New Zealand is undoubtedly one of the best places to live, but it has financial hurdles. The cost of living here is escalating, creating financial difficulties for those not vigilant with their finances, and for a lot of people who are."

"I've always held a firm belief that every dollar counts. It's not just about the amount but its value in shaping our future. I encourage everyone - friends, family, and readers - to scrutinise their bank statements regularly. Go line by line. Question every expenditure. It's an eye-opening exercise. What you'll find might surprise you: those small, seemingly inconsequential expenses, when accumulated, can make or break a budget."

"Money, like water, can slip through the tiniest of cracks. We live in an era where automated payments, subscriptions, and impulse online purchases are the norm. While convenience is king, complacency can be costly. Failing to review and reassess where your money goes periodically is one of the quickest routes to financial strain. Remember, every dollar that slips away unnoticed is a missed opportunity for saving, investing, or using it to enrich your life truly."

"In this guide, we delve deep into the common mistakes that can unknowingly keep one tethered to financial mediocrity. Because understanding these pitfalls is the first step towards a brighter, more secure financial future in our beloved New Zealand."
MoneyHub Founder Christopher Walsh
Christopher Walsh
MoneyHub Founder

Money Habits that Keep You Poor

Twenty Money Habits that Keep You Poor

Money Habits that Keep You Poor

Paying Yourself Last Keeps You Poor

There are two types of people. Those who pay themselves last are people who get their salary and right away pay their rent/mortgage, bills, credit card balances due, subscriptions, food costs, social costs, entertainment, etc. Whatever is left (if anything), they save. Poor people don't realise this means they'll always be short of money. 

The second type of people pay themselves first. This means putting at least 10% of their salary the minute they get paid. Then, everyone else can be paid as it falls due.

Important: With the current cost of living, saving 10% of after-tax income is ambitious. However, it's a target to aim for and eliminate non-essential spending. 

Why does paying yourself first work? You prioritise savings and allocate at least 10% of your monthly payday into a savings fund. Call accounts and term deposits now pay at least 5% p.a. interest, so savings generate more savings. Also, so many New Zealanders don't realise what they're spending and never have enough money at the end of the month.
Money Habits that Keep You Poor

Getting Comfortable with Credit Card Debt Keeps You Poor

Credit cards generate so much money for the banks – our research on this problem for New Zealanders was published in Stuff.co.nz here. So many New Zealanders roll credit card debt month after month, making the minimum repayment (2% to 5% of the balance) or something similar. This keeps people poor – credit card interest rates are around 20% to 25% p.a., meaning a $5,000 credit card balance left unpaid costs about $1,000 to $1,250 a year to operate. It's a big rip-off, and too many people get trapped.

The solution is uncomfortable but simple – if you can't afford to pay for it in cash/debit card, don't buy it. If you've no funds available to pay off what you add to a credit card, you're paying to spend your money, and any rewards or cashback you earned are irrelevant. Don't do it.  

Our guide to debt repayment apps has trusted tools that help to visualise and accelerate debt repayments.

Christopher warns:
"Credit cards can be double-edged swords. While they offer convenience and rewards, the trap lies in the interest rates. By only paying the minimum, you're essentially prolonging your debt and paying several times over for the items you've bought. Always aim to clear your balance - it's a small discipline that can save you a lot in the long run. The debt is never worth it and it can hang around for years".
Money Habits that Keep You Poor

Not having an emergency fund (3 to 6 months of living costs)

Unexpected expenses cost more than you think without a cash buffer in an on-call savings account. You're instantly paying interest if you have no savings and need to pay for something on a credit card. Too many people just use credit cards and end up poor for years, struggling every week with bills and going without needs when wants are prioritised.

By paying yourself first (as outlined in the first habit), you can build up an emergency fund to protect you from debt.​

Christopher comments: "The absence of an emergency fund has repeatedly emerged as a primary vulnerability for many New Zealanders, as outlined in this 2023 RNZ story. Without one, even a minor unexpected expense can plunge you into debt. By setting aside funds for unforeseen circumstances, you're preparing for the unexpected and affording yourself the peace of mind that can't be quantified in monetary terms. It has to be a priority over any 'want'-type purchase".
Money Habits that Keep You Poor
Money Habits that Keep You Poor

Not Knowing or Understanding Your Income and Expenses Keeps You Poor

​The reality is the more you earn, the more you spend, so it's easy to get lost. Many New Zealanders have no idea where their money goes. To avoid this, you need a budgeting app and be in control of your finances. You need to know how much you're earning, pay yourself first, then input all your expenses.

People who understand their money make more money by spending less. This is different from people who want to be rich and have no idea how to get there because all their earnings are spent without consideration or oversight.

Christopher comments:
"Too many people have no idea what they earn and spend because they never look at their bank statements. The best way to cut back on expenses is to get into your bank's app and go line by line through your bank account and credit card. The more familiar you are, the more you'll change your behaviour. 

"Many believe budgeting is a tedious task, but budgeting is empowering. It gives you control, clarity, and a sense of direction. When you understand where your money goes, you're in a position to make informed decisions that can profoundly influence your financial health - understanding the numbers gives you that power and confidence".
Money Habits that Keep You Poor

Having Expensive Hobbies Without Budgeting

​We want people to be happy - there's no point in having money in the bank and missing out on enjoying life. Indulging in hobbies is essential for personal growth and relaxation. However, when these hobbies start to bleed your finances dry without any budget or restraint, it becomes a problem. 

Many hobbies are cost-effective, but others can be debt-inducing. The number of financed boats and jet skis is one example. A hobby is meant to provide relaxation, not financial stress, and there's no point in incurring debt for ski weeks or fishing expeditions when you face interest rates of 20% p.a. repaying it.
Money Habits that Keep You Poor

Assuming Only Saving Money Increases Wealth and Not Focusing on Earning More

While saving and cutting back on poor-value expenses is crucial, focusing on earning more is even more important. This can be achieved by looking into upskilling for a better-paying job or investing in assets that generate passive income. Nothing is guaranteed in New Zealand's labour markets, and many employees think they're underpaid. Being ahead of the curve and upskilling, moving job or side-hustling something high-value will boost income and get you further in today's (and tomorrow's) economy.

Must Know Money Lessons and Avoiding Debt NZ
Money Habits that Keep You Poor

Waiting Too Long to Invest

Inflation makes money lose its value - the longer you wait to invest, the more purchasing power your money loses. Compounding interest generates returns day after day. Starting your investment journey early, even with small amounts, can lead to significant growth over time, but too often, New Zealanders delay taking the first step. 

For example, term deposits now pay interest rates close to the OCR, and it's satisfying to lock some money and see it earn interest - money making money in the purest form. 

Our View: KiwiSaver is, for most people, unlikely to provide a comfortable retirement even with NZ Super combined. We don't see it as a backstop for retirement for many reasons:
  1. The low contribution rates (6%)
  2. The ease of withdrawing for a home deposit
  3. The income tax on the money you contribute and the returns 

These all limit KiwiSaver's effectiveness as a retirement fund, hence the low average balances. We believe most New Zealanders are undersaving with KiwiSaver. It's arguable that if you want to grow a nest egg, the best way is to start today with a deposit into an on-call savings account or something similar. Too many people think you need a big and round number to invest - you do not.

Christopher comments:
"The power of compounding interest is incredible, but it needs time to work its magic. Many New Zealanders delay retirement savings, thinking they can play catch-up later. It is so hard to do when you're behind. The earlier you start, the easier and more fruitful your journey becomes. Time is an asset; please use it wisely".
Money Habits that Keep You Poor

Dating Someone Who Has No Understanding of Money or Costs

Relationships play a significant role in your financial well-being. If you're with someone who doesn't understand or respect money, it can lead to financial drain and emotional stress. Financial compatibility or at least a mutual understanding is, arguably, as important as love. 

​Christopher shares:
"Too many relationships regress and become unpleasant because of money - it's a major reason for breakups and divorces. Where there is conflict, you'll usually have a spender and a saver unable to come to an agreement. Money (or a lack of it) causes tensions, so it's critical to align your financial goals and habits.
Must Know Money Lessons in New Zealand
Money Habits that Keep You Poor

Avoiding Money Conversations

Discussing money matters can be uncomfortable for many. Whether it's salary negotiations, discussing finances with family, or seeking financial advice – avoiding these conversations can cost you in the long run. Make it a habit to have open and honest financial discussions.​​
Money Habits that Keep You Poor

Falling for 'Keeping up with the Joneses' Syndrome Will Always Keep You Poor

It's easy to get caught up in societal pressures and start living a lifestyle you can't afford just to keep up appearances. Buying the latest tech, going on lavish holidays, or driving the newest cars on loan - all these can rapidly deplete your wealth. Remember, wealth is not what you spend but what you save and invest. Live within your means and prioritise your financial well-being over societal expectations.​
Money Habits that Keep You Poor

Neglecting Financial Education

Many New Zealanders often overlook the importance of educating themselves about finances. By not understanding fundamental financial concepts, you're more likely to make poor money decisions. Spend time learning about investments, interest rates, taxes, and other essential financial topics. There are numerous online resources, workshops, and seminars available in New Zealand that can guide you on this journey.

Christopher comments: "Knowledge of financial matters gives you immediate power. Many people avoid understanding basic financial concepts, thinking it's too complicated. However, the basics can take you from being bad with money to financially resilient. I established MoneyHub to help people get empowered from the convenance of their phone, tablet or computer. The information published is designed to provide a foundation upon which sound financial decisions can be made".
Money Habits that Keep You Poor

Ignoring Small Daily Expenses and Never Saying No

Those daily coffees, snacks, and impulse buys add up over time. By not keeping track of these seemingly insignificant expenses, you might be draining a significant portion of your income without realising it. Using budget tracking apps or simply keeping a daily expense diary can help bring awareness and control.
Money Habits that Keep You Poor

Not Having Insurance

Life is unpredictable. Not investing in essential insurance like health, home, or income protection can lead to massive unexpected expenses. While it feels like an additional cost, it's a safety net that can save you from financial ruin in unforeseen situations.
Money Habits that Keep You Poor
Money Habits that Keep You Poor

Scams are all around, and there is no shot cut to wealth

Financial scams are more prevalent than ever - criminals even use the MoneyHub name and call people hoping to cheat them and there's nothing we can do about it. Whether it's fake investment opportunities or phishing scams, many New Zealanders lose money to fraud and are too ashamed to tell the story. Regularly educating yourself about common scams and being cautious with unsolicited offers can protect your finances.

Another scam, albeit not as obvious, is the 'get rich by investing with me' offers you see on Instagram, YouTube, TikTok and other platforms. Many 'gurus' offer their 'insights' - be very careful. More money is lost than made chasing fast money. 

Christopher comments:
"The allure of fast wealth can be tempting, but these schemes often end in disappointment. Genuine wealth-building is a marathon, not a sprint, and there are no short-cuts. Be wary of anyone promising quick riches. It's essential to do thorough research and trust your instincts".
Money Habits that Keep You Poor

Not Tackling Addictions Head-On

Addictions can have devastating impacts on an individual's finances. Whether it's gambling, drugs, alcohol, or other forms of addiction, the financial drain is often significant and can spiral out of control rapidly. Beyond the immediate monetary costs, addictions can lead to missed work opportunities, medical expenses, legal troubles, and other related costs. Moreover, the emotional toll can lead to impulsive financial decisions, further exacerbating the financial strain.

Moreover, addiction doesn't just affect the individual. Families can be pulled into the financial black hole, often using their savings or taking on debt to help their loved ones, only to find the cycle repeating. 

Intervention and professional help are often necessary, but the first step is always acknowledgement - it's far from easy, but if you don't, there's no way up. Additions often cause huge financial hardship. 

Christopher comments:
"Many people have addictions - it's not a character flaw; it's a complex interplay of factors, including personality traits, genetics, and environment. However, ignoring or downplaying these addictions is one of the surest ways to jeopardise financial well-being. It's essential to face them head-on, seeking help where needed, and understanding that financial freedom becomes even more elusive when battling untreated addictions."
Money Habits that Keep You Poor
Money Habits that Keep You Poor

Making Emotional Financial Decisions

Whether it's panic selling stocks during a market downturn or making an impulsive large purchase, emotional decisions can negatively impact your finances. Always take a step back, consult with a financial advisor if necessary, and make well-informed decisions.

Christopher comments:
​
"Money decisions driven by fear, greed, or any strong emotion rarely end well. Whether it's panic-selling during a market dip or making an impulse purchase because of a 'limited-time offer,' it's crucial to stay level-headed. Take a step back, consult with trusted advisors, and ensure you're making decisions grounded in logic."
Money Habits that Keep You Poor

Not Planning for Retirement

Many individuals push retirement planning to the back burner, thinking it's too far off to worry about. However, the earlier you start planning, the better positioned you'll be in your golden years. Consider your desired retirement lifestyle and start planning and saving accordingly.

Christopher shares his fears:
"One of the most underestimated money decisions many make is sidelining retirement planning, deeming it a concern for the distant future. New Zealand's cost of living gives an excuse, while retirement seems years ago. However, time flies, and living costs continue to rise". 

"Every year of delay can mean sacrificing potential compound interest, missing out on KiwiSaver benefits (if you're not joined) or facing higher risk due to a shortened investment horizon. NZ Super is not enough to have a lifestyle - it's there to pay bills. Do you want a retirement with choices or one with misery? Achieving retirement freedom doesn't happen overnight, but pushing retirement planning to the back burner risks your desired future. The earlier you act, the more cushioned and prepared you'll be, ensuring you don't find yourself financially constrained when work is no longer an option. Please don't delay".​
Money Habits that Keep You Poor

Not Maximising Employer Benefits

Many New Zealand employers offer benefits like KiwiSaver contributions, health and lifestyle benefits, and/or bonus schemes. Not taking full advantage of these is leaving money on the table. Always know your employment benefits and ensure you leverage them to their full potential.

Christopher comments:

"KiwiSaver is a must - I am always amazed by the number of people who don't contribute, as outlined in this August 2023 report. It's free money - while you forgo 3% of your income upfront, the rewards are a nest-egg later on. Yet there's a concern around the safety of KiwiSaver, myths that the government will interfere and take the money and similar thoughts".

"The reality is KiwiSaver is just like any managed fund investment, except your employer contributes (at least) 3% to your fund, and the government even adds in $500+ every year if you make the minimum contribution. If you do one thing, please consider joining KiwiSaver if you haven't already. Our KiwiSaver Facts guide has all the details".
Money Habits that Keep You Poor

Not Automating Savings or Investments

Automating your savings or investments can be a game-changer. It ensures consistent contributions, takes emotions out of the equation, and can capitalise on dollar-cost averaging in investments. Our guide, How to Invest Regularly with Auto-Invest, has more details and is a strong starting point.

Know This: If you want to auto-invest in your KiwiSaver fund beyond your employer/employee contributions, you can do this too. However, once the money is transferred, there are few opportunities to withdraw it (outside of first home purchase, retirement, emigration, hardship or death). For this reason, auto-investing in funds and savings accounts or term deposits remains popular with New Zealanders with a long-term focus.
Money Habits that Keep You Poor

Being Brand Loyal Without Reason

Brand loyalty can often lead to paying a premium without added benefits. Whether it's utilities, insurance, or everyday products, regularly shopping around for better deals can save a substantial amount over time. Brand loyalty shouldn't be a priority, especially if you can't afford it - there are low-cost alternatives for everything.

Christopher comments:

"Branded stuff costs more - but is it any better? I'm not so sure. We live in a world of brands, but buying into the idea that the price reflects the quality is less popular among younger New Zealanders. We know from our research in almost every financial product that prices vary - challenger brands/companies often deliver better deals than their big brand competitors. Other than warm clothing and outdoor stuff, I rarely buy anything branded and function just fine - we can live without brands". 

Related Guides:
  • 20 Things to Stop Buying to Have More Money
  • 20 Indicators You're Doing Well Financially
  • 20 Must-Know Money Lessons (Learned From Experience)
  • ​Best Call Accounts 
  • Best Term Deposits
  • ​Emergency Funds​
  • Paying Off a Credit Card on an Average Salary
  • Financial Independence and Retiring Early
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  • Loans & Finance
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  • Banking & Savings
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    • Buying a Home
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  • KiwiSaver
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  • Business
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  • MSD
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  • Motoring
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  • Law
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  • Travel
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  • Broadband
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  • Power
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    • Power Companies
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  • Financial Independence
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      • Beginner's Guide to Tax
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    • Money Tips
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      • 20 Indicators You're Doing Well Financially
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      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
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      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
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      • Free Money from the Government
      • Bankruptcy Guide
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      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
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    • Wellington Trade Services
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      • Glaziers Welli