Credit Simple, Author at Credit Simple NZ

Did you know the first credit card was made of cardboard? Here are five random (but fascinating) facts about credit cards

2 May 2017

The first credit card was cardboard The first independent credit card was Diners Club, founded in 1949 after hungry co-founder Frank McNamara took clients out to dinner and realised he’d left his wallet in another suit. His wife paid the bill and Frank thought up a charge card that would help him avoid embarrassment next time. He pitched the idea to the restaurant owner, and next day consulted his lawyer to get the ball rolling. Frank’s first Diners Club card…

What you need to know about: Personal loans vs credit cards

By: Credit Simple

24 April 2017

A personal loan is about as straightforward as it gets when it comes to borrowing money. It can help you pay for something special like a car, holiday or home renovations, or to consolidate debt. With a personal loan, you borrow a specific amount and you make regular payments until it’s paid, usually one to five years. And for a long time personal loans have been in the shadow of credit cards. That’s because credit cards are very good business…

I cut my own hair for seven years (and saved nearly $4,000)

By: Credit Simple

17 April 2017

Yep, you read that heading right. (Welcome to the Credit Simple blog, where I confess all my deepest, darkest money secrets.) For seven years, I cut my own hair. Of course, it’s not as drastic as it sounds, but the end savings result is rather gobsmacking. For seven years when I was in my twenties, I DIY’ed my tresses. Why? Well, I’m slightly introverted and I hate the small talk you have to engage in at the hairdresser. I’ve also got…

Worried about the retirement age going up? Here’s how to kick your finances into shape before you hit 50

By: Credit Simple

12 April 2017

Hey Gen X! Here’s what you need to know about your money and finances before you turn the big 5-0. The next decade and a half is going to tick away fast and some of us need to grow up and get serious about our finances. You don’t want to be stuck at home eating baked beans whilst your friends post their fabulous post retirement travels on social media do you? Home truths about your finances as you get older…

Two easy ways to fast-track your retirement

By: Credit Simple

5 April 2017

Let’s have a quick talk about the meaning of life. Well, maybe not the whole nine yards, but do you have moments in your cubicle when you wonder if the way you’ve got your life planned is the smartest way to go at it. What are your plans for financial security, and where do you hope to be when you retire? And how soon do you want it to happen? Here’s an unnerving thought: is it possible your plans for…

Does your bank reckon you should have your KiwiSaver with them, all under one roof? Read this first

By: Credit Simple

2 April 2017

I banked a cheque the other day (yes, I know! Some people are still using cheques) and as I stood there at the counter, the teller asked me if I had my KiwiSaver with the bank. “No, it’s elsewhere,” I said. “Why don’t you bring it to us?” he asked. “Because I’m with another bank and their fees are lower,” I said. “But you should have your KiwiSaver with your everyday bank,” he argued. Now this made me a bit…

Hospitality worker giving back card and holding eftpos machine

Are you a Spendy Young Thing? Housing market aside, here’s why (and how) you should be saving

By: Credit Simple

29 March 2017

Oh Tony. Tony, Tony, Tony. For those who don’t know, Tony Alexander is the chief economist at BNZ and he said a few things about Spendy Young Things (SYTs) not saving properly for a house. Tony would like you all to have a house, you see, but you do rather spend a lot on things he says you don’t need. Like landscape gardening (!), lattes and smashed avocado on toast at your favourite Sunday brunch spot. Of course, the real…

Buddy, can you spare a million? How easy is it really to get a mortgage in New Zealand?

By: Credit Simple

22 March 2017

It’s amazing, really, how many hoops you have to jump through these days just to earn yourself the privilege of borrowing hundreds of thousands dollars in a home loan. But how many hoops are we talking, exactly? How difficult is it in the current market to get yourself a mortgage? A bit tricky, says Maria Slade, author of Buyer Beware, A New Zealand Home Buyer’s Guide. For starters, you don’t really get past GO without a 20 per cent deposit…

9.2% of all Kiwis are credit unicorns. Are you one of them?

By: Credit Simple

20 March 2017

In the world of credit scores, we like to refer to those with a score of more than 900 as unicorns. They are rare and until now, almost mythical beasts, and only 9.2% of all Kiwis can call themselves a credit unicorn. Everyone has a credit score. It’s a number between zero and 1000 that credit providers and banks use to determine how credit worthy you are. The higher your score, the more likely credit providers are likely to lend…

Five ways technology can save you money

By: Credit Simple

13 March 2017

Robots – artificial intelligence, chatbots, robo-advisors and the rest – are big news in the banking and finance industry. Packaging financial smarts into a programme or algorithm looks like a great way for big banks, insurance companies and airlines to help guide customers through complicated decisions and save (the company) money along the way. It’s early days though, and chatting with a robot can sometimes feel a bit like, well, chatting with a robot. Take this experience I had the…