Whether you want to save money, improve your financial knowledge, find money inspiration, or are simply tired of living paycheck to paycheck, there are some excellent New Zealand personal finance blogs and websites that may assist you. New Zealand’s internet personal finance community is still expanding. We have now developed a nice guide for the Top websites for New Zealanders to Save Money & Improve Finances for you out of a dozen or more.
With the best respect for the (quietly successful) persons behind the following resources, all of whom take the time to publish without regard for economic gain. Index funds, budgeting, passive income, interest rates, retirement, and a plethora of other goods and concepts are addressed and discussed on these sites. Let’s begin to explore the most convenient way of saving money and improving your finances. It’s time to save some money!
Henk Hustle on YouTube
Henk Hustle is a New Zealand YouTuber who posts videos on investing and financial independence. Henk’s channel was created on November 5, 2009, and has grown to have more than 4.74K subscribers (as of 2021). Henk’s videos range from financial analysis and recommendations to an in-depth look into the psychology of money. He started investing at the age of 18 and hasn’t looked back since. In 2011 Henk started investing his own money and had his first financial independence target in 2015. In 2017 Henk set a goal of reaching financial independence by age 32.
The Happy Saver Ruth
The Happy Saver Ruth is a married mother of two who runs her own marketing consultancy, Millstream Marketing. She is a passionate saver and investor and writes about her experiences and advice to help others.
Ruth is a keen advocate of being financially prepared and notes ‘being prepared for retirement will free you up to enjoy the things in life that really matter’.
She puts saving at the forefront of her priorities, regularly putting aside between 15-20% of her salary. Ruth likes putting money aside, rather than spending it. She likes the security of having money available and, indeed, likes the peace of mind that comes with knowing you have some money set aside if something unexpected happens. Ruth puts her savings into various investments that suit her. She likes to invest in property, shares, and cash. Ruth saves through Virgin Money and invests with Questrade.
MoneyKingNZ.com
The biggest lesson that you will learn from Money King NZ is that there are people who can explain investment principles in a language that you will understand easily. Money King NZ previously had no real knowledge about how investing works. Over a time period, he built his skills up to such a level that he has the ability to guide a number of New Zealanders to save their money wisely and how to improve their finances. Most people invest without understanding the basics of investment principles. In this way, they are losing thousands of dollars each year.
Mary Holm of Radio New Zealand Podcasts
Mary Holm is New Zealand’s closest thing to a trusted personal finance authority. While her column is behind the NZ Herald paywall, you can read anything on her website for free. The website is excellent for anybody who wants to stay up to speed on issues such as housing, mortgages, and index funds, with updates given on a regular basis.
Mary Holm also has an easy style and writes very clearly. Her weekly column in the New Zealand Herald (and occasionally the Sunday Star-Times) is always worth reading. Mary has a practical approach to things and isn’t shy about recommending specific things. She writes about things like KiwiSaver and the sharemarket, but won’t give advice unless she is recommending it for herself.
Joshua Wang- a Youtuber
The goal of Sharesies is to help people understand investing and to demystify the process for them. Joshua Wang started off just using video, but a growing community was asking for more, so he added blog posts and articles and eventually started doing live Q&A sessions.
He also started a small side business, where he review stocks and answer questions about stocks that Shareside’s members send me. Some of these are straightforward, but some are very complicated.
The Sharesies has 30,000 members now, and over 40,000 subscribers on YouTube. Wang does a lot of volunteer work in my community as well. For example, he’s an ambassador for the Canadian National Autism Program, and he runs an annual charity golf tournament for the Canadian Cancer Society. The Sharesies project has been incredibly rewarding and it’s fun to do. According to him, it keeps me motivated every day.
Barefoot Investor
A lot of people seem baffled by the Barefoot Investor’s recommendations. “How can you buy stocks at $50 and then sell them at $150?” they say. The expression “buy low and sell high” isn’t as straightforward as it seems, though.
You see, there are two different ways to buy stock. One is to buy shares directly, and the other is to buy a basket of stocks. When you buy shares directly, it is like renting a car. You are giving up all control. And you have to consider whether the price is right. (You usually decide to buy when the price is below some fundamental value, such as a book value or its current market value.) But when you buy a basket of stocks, it is like renting an apartment or buying some stocks through a mutual fund. In this case, you give up control, but you also give up money: you are giving up the ability to sell the stock at a higher price. When the market is high, you’re out of the money.
The Barefoot Investor uses a combination of techniques. First, he focuses on the long-term, buying stocks for the long term. Second, he is patient. His strategy is to buy when the price is low and to sell when the price is high. Third, he buys when the market is falling (“falling out of bed”). So if you’re wondering why the Barefoot Investor buys stocks at $50 and sells at $150 when the market is high, it’s because buying stocks in a falling market is like buying an apartment in a falling market: it’s cheap, and you can sell later. Finally, he focuses on fundamentals.
As you build wealth, you increase your risk of running out of money. And your income risk goes up along with your income. So it’s useful to have multiple streams of income. Diversification is even more important for wealth than for income. With income, you are much more careful about diversification, because your income is highly variable. With wealth, it’s more a question of how likely you are to run out. If you have several streams of wealth, you can live on one in case the other streams dry up. The safest way to have multiple or diversity your streams of wealth is to start with lots of different kinds of wealth. For example, one stream may be a house, one may be income from stocks and bonds, and one may be income from a business. That’s how efficiently you can save money.
Published On : December 1, 2021 by: Sakshi Sharma/Category(s) : Banking & Finance
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