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Tom from Sorted

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Tom from Sorted last won the day on April 29

Tom from Sorted had the most liked content!

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About Tom from Sorted

  1. 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
  2. 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
  3. 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
  4. 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
  5. 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
  6. 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
  7. 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
  8. 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
  9. 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
  10. 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
  11. 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
  12. 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
  13. Hi there Nudibranch, have a look at this latest post from us on top mortgage strategies: https://sorted.org.nz/must-reads/top-mortgage-strategies/ Definitely also recommend running your numbers using our mortgage calculator to see which scenario is better for you. It should help you see that clearly: https://sorted.org.nz/tools/mortgage-calculator Best, Tom
  14. We are not what we buy!

    Hi everyone, as we're all working on getting ahead financially, we battle a constant headwind: consumerism. Luckily we are not what we buy! https://sorted.org.nz/must-reads/we-are-not-what-we-buy/ Cheers, Tom
  15. How to get your tax refund

    Hi everyone, no need to use a tax refund company; they just take a cut that should be coming to you. Here's how to sort yours this year: https://sorted.org.nz/must-reads/getting-your-refund/ Cheers
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