Business Blogs

There are numerous examples of celebrity relationships with a large age gap between partners (Michael and Catherine, Woody and Soon-Yi, Calista and Harrison) and such relationships are increasingly common throughout society. The success of any relationship relies on good communication and negotiation of differences so the needs of both partners can be met. Financial issues due to age differences are among those that need to be resolved.

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Getting on top of your money issues will be a lot easier in future with the new look Sorted website at www.sorted.org.nz. Sorted has built a huge following of people keen to make their money work better for them and is recognized internationally as being at the leading edge of resources to help improve financial literacy.

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One of the most significant financial decisions a young couple can make is when to start a family. Worries about money are one of the key reasons why couples delay having children. Being financially prepared for the first baby can help reduce the stress that sometimes comes with what should be a joyful occasion.

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There are only two ways you can save more: you can increase your income, or cut back on your spending. Here are seven great ways to save by spending less: 1. Buy and sell second hand goods on trading websites. Have a rule that before you buy anything new, you have to get rid of something first. That way, you avoid accumulating clutter.

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Getting together with a new partner can have its difficulties, especially when there are children from a previous relationship involved. While there are many practical issues to resolve, often the most complex are to do with money.

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One of the most interesting aspects of wealth creation is that it is virtually impossible to do on your own. Put a person on a desert island and he or she will not create any additional wealth than is already present on the island.

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The way you think about money can have a huge influence on your ability to create wealth. Poverty mentality is a mindset that people develop over time based on a strong belief that they will never have enough money. This mindset is driven by fear and can cause poor financial decision-making.

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One of the best ways to get ahead financially is to pay off your mortgage as soon as possible. The first step towards doing this is to create more surplus income; that is, the difference between what you spend and what you earn. This means either cutting back on your expenses or finding ways to increase your income.

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In the harsh world of economics, the value of a person is not difficult to quantify. In simple terms, the value of a person at a given point in time is based future earnings, which is the number of hours the person is able to work for the remainder of their life, multiplied by the hourly rate the person is capable of earning.

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Setting your financial goals is not a simply a process of deciding how much money you need. Examples of common financial goals are: To save $5,000 over the next year; To save $500,000 for retirement; To have a passive income of $50,000 a year

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It is not uncommon for investors, particularly those in superannuation or retirement savings schemes, to be unfamiliar with how their money is being invested. All too often, there is disillusionment when the investment does not perform in line with the investor’s expectations.

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There are times as a parent when you look forward to the day your children head off into the world to make their own way. When that day comes, it often comes with worries about how your children will cope with life as adults, and in particular whether they will succeed financially.

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A New Year, a new start and resolutions to get fit, lose weight and spend less. Every year it is the same story. The trouble is, most people fail to understand how to turn resolutions into reality, so nothing changes. There are some very simple ways of making sure you achieve your goals.

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Holiday time is a great time to declutter. As well as cleaning out your cupboards and wardrobe, it’s a good idea to do some housekeeping on your financial affairs. Start with your bank accounts. Do you have accounts you seldom use? It is best to have all your accounts at one or two banks rather than three or four, especially if you use internet banking to track your spending.

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One of the most important lessons learned by our forebears in the Great Depression was to be grateful for whatever you have. There is nothing like experiencing disastrous financial times to make us painfully aware of the potential for future hardships. Focussing on what you have rather than what you don’t have increases feelings of happiness and contentment and reduces the urge to spend.

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There comes a time in life when you have to flick the spend/save switch from saving to spending. If you have been careful with your money during your working life, it can be hard to spend and watch your savings dwindle. Spend too much and you might run out of money; spend too little and it will be your children who get the benefit of your life savings.

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