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Posts Tagged :

debt

Money worries giving you a headache? Talk to a financial mentor straight away for free

Being snowed under by bills or chased by a lender or debt collector can feel stressful. Having your bank balance constantly in the red can feel like life is spinning out of control. It can help to talk to someone about what’s happening, get another perspective and put a plan into place. Thanks to Fincap, you can get support for free. Fincap has set up a new helpline, MoneyTalks, which is an easy first port of call for anyone needing…

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Using a credit card for everything? There are other ways to pay

Don’t believe you have to have a credit card. Paying interest sucks. It sucks the lifeblood out of your finances. That’s because unless you clear your entire bill within the interest free days, you pay interest. That interest means you’re paying as much as 22.95% more than your mates at the mainstream banks for the same things, which has a detrimental effect on your finances over time. Other (cheaper) ways to pay Thankfully there are way more credit-free ways to…

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Invest or save? Three things every Kiwi should consider before plotting a path to financial freedom

You, your wallet, and your spare change walk into a bank. What, were you expecting a punchline? Well, these isn’t one! Your financial future is no joke. That said, the wealth of savings options available to Kiwis these days will have you laughing all the way to the bank. Or credit union. Or investment company. Or or or… do you see the problem yet? Saving money is always a smart idea. But we reckon being spoiled for choice still presents…

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Has Cupid’s arrow struck? Don’t date your way into debt!

We know your new girlfriend or boyfriend wants to go out every Friday. Even two drinks each, some snacks and an Uber ride home could set you back $50. It’s dead easy to blow $100 if you throw food in as well. What’s more, dating can send your credit score south. Fast. Let’s say you spend $150 a week going out, $300 a couple of times a year on a weekend away, $200 on his/her birthday, and flowers or chocolates…

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Why being a credit ‘deadbeat’ is actually a good thing

Are you a deadbeat? When it comes to credit cards, that’s actually a good thing. Yep, a ‘deadbeat’ is a term for someone who pays off their credit card in full and on time every month. Why a deadbeat? Well, if you pay off your card each month, the credit card company doesn’t charge you interest  –  so they won’t make any money off you. (Credit card companies also use the much more polite terms ‘non-revolver’ and ‘transactor’.) As a…

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Help! I can’t pay my mortgage

Perhaps you’ve lost your job, you’ve fallen ill, can’t sell but have bought a new property, the property is uninhabitable thanks to an earthquake, or have no rent coming in. Whatever the cause, if you can’t make mortgage payments your finances can turn to custard rapidly. Non-payment will do your credit score a lot of damage. Even worse, it ultimately leads to your home or investment property being repossessed if you can’t make mortgage payments. Talk to the bank and…

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Feeling overwhelmed by your money problems? Here’s some free expert help

If it feels as though you’re struggling with money problems, the best thing you can do is ask for help. You’re not the first person to get into debt, and you won’t be the last. The sooner you get started on fixing the problem, the sooner you can put it all behind you. It can be amazing how much weight feels lifted off your shoulders once you sit down with someone and lay out your situation. FinCap can put you…

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12% of Kiwis are paying interest on ‘free’ loans

When you get an interest-free loan, it’s always interest-free, right? Wait a second. It’s only interest-free if you toe the line with the terms and conditions of the loan. And research we commissioned has found nearly half (48%) of Kiwis have made the most of deferred interest deals to purchase items with what can be a ‘free’ loan, but even the best intentions of paying off the loan in time can catch some consumers out. While most Kiwis paid off…

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Surprised businessman
Eight things about your credit history that may surprise you

Borrowing can actually help your credit score, as unintuitive as that might sound. Potential credit providers want to see that you’ve got a history of responsibly paying your bills, so borrowing a small amount and paying in full and on time will help to boost your credit score. Your credit file will also include publicly available information such as court judgements and bankruptcies. So anything out there online or in court databases about you will most likely also appear on…

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Man with empty pockets
Debt-free retirement out of reach for many Kiwis

Here at Credit Simple HQ, we’re always talking to Kiwis from all over the country about their credit scores and their finances. So when we noticed a trend – that is, older Kiwis telling us they don’t feel sorted for retirement – we thought we’d dig into the data to see if the numbers would tell us a story. And that data shows that New Zealanders over 55 are buckling under debt pressure, with the age group making up an increasing…

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