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Spendin

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Spendin last won the day on September 28

Spendin had the most liked content!

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About Spendin

  1. Expense tracking...

    I personally use and love YNAB.com. I stumbled across it a few years ago and it totally changed my financial life. I drag CSV exports from my bank in to the system which takes care of the manual entry. Has good graphs to track your progress over time - and just a really solid way of budgeting. My favourite part is splitting expenses out over the year (so I budget $5 per month for AA Membership, and then when it comes time to pay, the money is already sitting there. I also put money aside for xmas each month so that the December/January period isn't a stress like it is for many. There can be a bit of a learning curve with YNAB, but it's well worth it and they have plenty of great guides and videos on their website
  2. How do you track your spending

    I don't link YNAB directly with my accounts - I find that functionality a little buggy. Instead I just export Quicken files from ASB and drag/drop them on to YNAB. Example of how to export these below :-)
  3. Debt to Eat

    Sorry to hear Hilinda This video might interest you. The same guy in that video has a set of 'Baby Steps' for getting out of debt and getting ahead. See them here: https://www.daveramsey.com/baby-steps/ I started following the baby steps a few years ago and am now on baby step 4. Feels great. A lot of people think managing your money is boring and scary - it's actually the total opposite, it gives you such a feeling of freedom when you get in control. You can do this!
  4. 2017 Charity Challenge

    Eek, I've been slack responding to my own challenge post! July - Donated to the Fred Hollows Foundation via a friend's fundraiser August - Donated to the SPCA.
  5. I'm interested about this too. I keep my emergency fund in a term deposit that I can withdraw on short notice (I'd lose the interest, but I wouldn't be stressing over that in an emergency). I'm just starting to think about buying a home, and am trying to decide if I include my emergency fund in my deposit? If I can easily pull from the mortgage then it may make sense? Anyone with more knowledge/experience in this area?
  6. Paying down my debts

    I nearly got a $5,000 car loan to upgrade my car. I have a reliable Nissan, but wanted one that looked a bit nicer, had push-button start and keyless entry.. And I am so glad I didn't go through with the 'upgrade'. Shortly after this I started budgeting and my monthly savings equalled what I'd have been paying if I took out the car loan. It felt so much better to be able to save than keyless entry would have felt. In some cases a modest car loan makes sense - if you need a car to get to work etc. The lesson I learned was that you shouldn't buy more car than you need when you're financing it. At the end of the day it's a set of wheels to get you from A-B, and you shouldn't obsess over bells and whistles if financing the car with debt.
  7. Kiwisaver to clear debt

    I believe the decision somewhat falls to the fund providers' discretion. Would be worth getting in touch with them to check. But I doubt they'll allow a withdrawl outside of true financial hardship.
  8. First Home - KiwiSaver

    The KiwiSaver First Home Withdrawl page says "You must have been a KiwiSaver member for three or more years." but nothing about being a member of a specific fund. If your provider won't let you withdraw for first home, switch to another that will let you. The threat of the switch will probably change their mind. I'm with Simplicity and their FAQ says you're eligible if you've been with KS for 3 years.. Nothing about being with them for three years.
  9. Index Fund options in NZ

    The annual fee is great value for me. You'd have to have three years of no withdrawals and no new funds for Smartshares to come out on top. I'm looking forward to configuring my mix of funds that my Superlife investments will go in to; you set 'Your mix' through the website and assign percentages for each funds. Then any money you put in is invested according to your mix.
  10. Index Fund options in NZ

    I was surprised how easy it is! Smartshares and Superlife are both owned by NZX, and to my knowledge, Superlife has all of the Smartshares funds (plus more). I signed up to SuperLife and got a welcome email. I replied to this with the details about my Smartshares holdings and Superlife sent me a couple of forms to sign to authorise the transfer. They then take care of the rest! And no fees as far as I'm aware (could be wrong though).
  11. Index Fund options in NZ

    There's been a big improvement in the availability of index funds in New Zealand over the past few years. I started investing in the Vanguard S&P500 through Smartshares a few years ago. I'm now reaching a stage where I want to start spreading my investments across other Vanguard funds, so I've switched to Superlife which is overall a bit easier, has more fund options, and a much nicer web experience. I recommend considering a provider like Superlife, Smartshares, Simplicity, InvestNow, Sharesies, and others. All have their own mix of upsides/downsides in terms of minimum investments, functionality, sign up processes, etc; but all seem reasonably priced and a far better option than putting money in a term deposit. Given it's long terms savings for your kids, do consider the higher risk funds. Long term investments have much more time to ride out the ups and downs of the market - and you generally come out far ahead in a higher risk fund than a more conservative fund. Good luck!
  12. Tax refund

    Congrats! Being a bit brutal on my end too. Took a holiday I didn't budget for and have been rebuilding for months now. Unfortunately my tax refund is only like $6 ha!
  13. Tax refund

    Did you DIY tax refund? If not, here's a tip for next year: https://community.sorted.org.nz/index.php?/topic/85-tax-refunds-save-money-and-do-your-own/ Congrats on the big change in what you use it for this year! Although I'd say maybe one bottle of wine still has a place in the mix ;-) Maybe that's just me..
  14. How do you track your spending

    Another big fan of YNAB here. It completely turned around my financial life. Every dollar I've spent on YNAB I've received at least a 100X return on. Bank feeds have historically worked with ASB, but have started to be a bit buggy for me recently. To the point that I've turned off auto-import for my credit card and manually import the transactions with a Quicken file. Still nice and fast. My favorite part about YNAB is that it's all about looking forward. Rather than focusing on what you've spent, it's focusing on what you're going to spend. Not a lot of value to be gained by guilt tripping yourself over last month's transactions in my opinion. YNAB has given me a total sense of freedom with my money - couldn't live without it.
  15. Investing for beginners

    Each to their own I sleep better at night knowing I'm debt free and am happy to miss out on potential returns; while others may sleep better knowing they're taking on more risk, but exposing themselves to more opportunities.
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