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Tom from Sorted

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Tom from Sorted last won the day on April 29 2018

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About Tom from Sorted

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  1. Tom from Sorted


    Hi everyone, we've had Peti Morgan of The Leveraged Mama post her own credit card debt story on Sorted. Check it out! https://sorted.org.nz/must-reads/my-credit-card-was-a-money-leak/
  2. Tom from Sorted

    KiwiSaver is getting even better

    Hi everyone, regarding those default funds, here are some tips for anyone you know who's just getting started with KiwiSaver: https://sorted.org.nz/must-reads/kiwisaver-for-starters/ Pass it on!
  3. Tom from Sorted

    KiwiSaver Providers with no Fees on Accounts for Children

    Hi everyone, so here is the latest information I have from all KiwiSaver providers: Aon: the membership fees for those under 18 are reduced – from $49.80 to $40 each year Craigs Investment Partners: waive the administration fees for under 18s in the Craigs KiwiSaver Scheme Juno: the newest arrival on the KiwiSaver scene, they have confirmed they will be waiving all fees for those under 18 NZ Funds: waive the administration fee if $200 or more is put in each year Westpac: used to waive the administration fee for those who joined their Starter Pac programme – this is no longer on offer for those signing up. For more considerations to make on kids'n KiwiSaver, see here: https://sorted.org.nz/must-reads/kidsn-kiwisaver/
  4. Hi everyone, I had a look at what happens when people don't have a will - have a look: https://sorted.org.nz/must-reads/no-will-no-way/ Cheers
  5. Tom from Sorted

    Someone Mortgage Savvy Please Help!

    Hi Jaed, do you have someone in your corner for this fight? A lawyer, financial adviser, money mentor? It really sounds like you could use a safe pair of hands as you to and fro with your bank. You might try calling 0508 BUDGET to start, and they should help you with your interest calculations. In that regard, in the early years of a mortgage you typically mostly interest and little principal, which is perhaps why your calculation of the interest over 12 years is coming up short. Best, Tom
  6. Tom from Sorted

    Debt plus fraud equals... just debt.

    Hi everyone, bit of a downer of a story, but a good example of how debt brings risk to borrowers, too. Any Mustang or classic car fans out there? https://sorted.org.nz/must-reads/mustang-fraud-leaves-only-debt/ Cheers, Tom
  7. Tom from Sorted

    Homemade loans

    Hi everyone, do you borrow at home? When it works well, it can be win-win-win. But there are some considerations to keep in mind: https://sorted.org.nz/must-reads/homemade-loan-tips/ Has debt in the family worked for you? Cheers, Tom
  8. Tom from Sorted

    KiwiSaver Providers with no Fees on Accounts for Children

    Thanks Andrew D, sounds like they brought this back (they had this available in the past). Good to know that the deposits can be as low as $1, too. Cheers, Tom
  9. Tom from Sorted

    Feeling pressure at the pump?

    Hi everyone, petrol prices have never been so high, so here are some tips on how to roll with it: https://sorted.org.nz/must-reads/petrol-needs-a-plan/ Cheers, Tom
  10. Hi everyone, it's that time of year to make sure you (and those around you) are getting all the government money they can in KiwiSaver. Who do you know missing out? 1.8 million KiwiSavers will get theirs – will you? Cheers, Tom
  11. Tom from Sorted

    Someone Mortgage Savvy Please Help!

    Hi Jaed, yes, it would make sense that you were charged interest for those 12 years, while the loan was on a 30-year term as you've said. Which unfortunately brings us back to the lender for an explanation. Any answers? Cheers, Tom
  12. Tom from Sorted

    Splurging on plan

    Hi everyone, here's a bit of a flamethrower story on how to really splurge without veering off your plan. See what you think! https://sorted.org.nz/must-reads/keep-treats-on-track/ Cheers, Tom
  13. Tom from Sorted

    Someone Mortgage Savvy Please Help!

    Hi Jaed, interest on a mortgage is typically calculated daily – a non-stop ticker in the background that goes on for as long as we take to repay. When we make a scheduled payment, we’re charged however much has built up to that point. We could look at calculating how much interest you've paid in those 12 years, but only if we had your repayment history and the terms of the loan during that time. (A 30-year loan means much of your payments went to interest.) So much easier to get this from your bank; hope you make some headway there! Best, Tom
  14. Tom from Sorted

    Asset Allocation/Classification

    Hi T, based on conversations I've had with investing experts in the past, I think they would classify these depending on how the income was being generated. So if it's from company profits from building and selling widgets, it would be a share; if it's from rent from a commercial property, it would fall under property. There's not always a bright line between the two as you say, so in the case of retirement village companies, you could have a look at where the lion's share of their profits are coming from. I'd guess that these are property companies for the most part? Cheers
  15. Hi everyone, here's the world I want my daughter to grow up in: where there's no gender investing gap, either. https://sorted.org.nz/must-reads/financial-feminists/ Boost your inner financial feminist. Cheers, Tom