WealthDesign

Recently I had a client in my office who has given up smoking. The great news is, it keeps him healthy and saves him money.

Not only is he saving money on the smokes he was buying, but after 12 months, his insurance bill has dropped by 50% – no medicals, no questions. As long as he can honestly say he hasn’t smoked a cigarette for 12 months, the monthly life insurance bill is halved.

He showed me the app on his iPhone that tracked his savings – over $6,000 in 12 months! It’s a neat little reminder that helped him beat an unhealthy habit. This wasn’t the only thing he used to support him on his journey, he also used nicotine patches and other tools.  But hey, technology can definitely help along the way!

If you are a smoker and need a little financial prompt, check out the website below – lots of help at a time when you need all the help you can get!

Quit smoking with healthline.com

John Barber
WealthDesign – a life well planned

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Welcome to the first instalment of ‘Budgeting with Wilson – advice from an ex-uni student’ (insert theme tune). Today’s topic?  Sky TV, and how to get more TV for less.

The rise of the internet has 100% led to the death of Sky TV. It’s now expensive and can be a bit of a money pit. When you consider other options out there, Sky TV probably ranks right down near the bottom in terms of value for money, and content.

So what does the ex-uni student recommend? The answer is one that has come off the back of illegal streaming and downloads. It’s on demand tailored content that gives you exactly what you want, and lots of it, for nowhere near the hundreds of dollars you would spend on Sky TV.

In terms of that on demand content, there is a plethora of options in the New Zealand market with Netflix being king. Watch it on your TV, your phone, your laptop, or tablet, there are literally thousands of movies and TV shows to watch, with more being added weekly. Netflix will cost you $10 a month. Cheap, right?

But you what about sport, I hear you ask? Once again on demand streaming has options. Whether its golf though PGA Tour Live, basketball through NBA TV, baseball on MLB TV, or the football though Premier league Pass, there are a crazy amount of options, for a ridiculously low price.

The only stumbling block to my amazing budgetary advice surrounding your TV viewing habits is the rugby. World rugby hasn’t quite caught up to the revolution. However, I have a solution, and that’s going to the pub and having a few pints with your mates instead – problem solved (and much more social)!

Compared to Sky TV at over $120 a month, any streaming option or options will cost you far less. That means more money for you to spend on beer, holidays, or more sensibly, building your savings. Plus your family will think you’re so technologically savvy when you bust out Netflix, and work it like a pro.

Wilson O’Fee
Your friendly WealthDesign, financially savvy, ex-uni student!

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Kiwis are a mobile breed – we love to take flight and nest down in locations all over the world.  Sometimes this is on a permanent basis, other times just for a year or two.  If you or someone you know is planning to head overseas, there are some financial matters that will need some attention.

KiwiSaver – in some instances you can take it with you, but keep in mind, there is some fine print you’ll want to know about, BEFORE you leave. 

House insurance – will you rent it out or keep it unoccupied for a while?  Check out the insurance implications.

Travel insurance – definitely not just for tourists.  In fact, you won’t want to get caught in a predicament overseas without it.

Life insurance – your existing life policy probably works wherever you live,  or some policies can be ‘suspended’ while you are away.

New Zealand life insurance companies always ask questions about residency, but few people have an idea what the implications are.  For example, if you are about to head off to Afghanistan to work in the ‘security’ industry, insurers would consider that an important titbit of information.

Before hopping on that plane, give us a call to ensure your financial matters are taken care of.  An hour spent with us can avoid time, suffering and money!

Regan Thomas
WealthDesign – a life well planned

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ANZ has proposed selling their OnePath medical business to nib.  If the sale proceeds, nib will be the insurer of all current medical policies and will honour all medical policy holders’ terms and conditions, including any pre-existing medical conditions currently covered by OnePath. In fact, nib is planning to enhance the current policies to give clients even better coverage.

If you have any questions, please feel free to give us a call.

Regan Thomas
WealthDesign – a life well planned

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Money makes the world go around! Today, money has never been cheaper – for example BNZ have announced their lowest two year fixed rate ever recently, of 4.39%. Awesome! But before you rush out to go borrow some, there is a trick. You need to understand the difference between good and bad debt.

Bad debt is money borrowed on depreciating assets. It is debt paid out of tax paid dollars. And the very worst bad debt is money borrowed to spend on consumption (I can feel some people’s hearts sink!).

Good debt is tax deductible debt used to buy appreciating assets and with historically low interest rates, you can borrow money to make money.

An example of bad debt we often see is property investors with personal debt on their homes and free hold rental properties. A little smart planning could save these people heaps on their taxes. With a little planning we can transform bad debt into good debt.

We often see people who could increase their monthly mortgage payments by as little as $20 a week and save thousands of dollars in interest over the term of the loan.

If you have debt and you need to discuss how you can save money or plan smarter, give WealthDesign a call.

A little time invested today could save you thousands of dollars in the long run.

John Barber
WealthDesign – a life well planned

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