Do you have a plan for your money in 2022? Our simple tips could help you reach your goals.
Review your KiwiSaver account
The start of the year is a great time for an annual KiwiSaver account review. Check you’re on the correct PIR tax rate before the financial year ends - if you pay too much tax on your KiwiSaver account you can’t get it back. Check your fund type, provider, and contributions still suit your situation.
What are your money goals for the year? Money can be a source of stress for many, but having some goals, no matter how short or long term, can help you progress. Maybe it’s to spend less on takeaways, or find a cheaper electricity provider. Every dollar counts.
Grow your emergency account
Being short of money in a crisis adds stress, and having a buffer or emergency account can really help. It’s not if a financial emergency will happen, but likely - when. Vehicle problems, vet bills, appliance breakdowns, or emergency flights home - having extra money on hand is vital. Start with $100, then try to build it up slowly to a few months of expenses.
Apply mindful spending
Do you wonder where your money has gone at the end of each pay cycle? You aren’t alone. Christmas and summer spending can really take hold and make a dent! Once autumn hits, that’s a great time to refocus. A spending diary, online tools or spreadsheets can help you track where every dollar is going, and make any changes required.
Learn your money personality
Get money-savvy! Are you a Spender? A Saver? Or something else? Take our fun quiz to find out which one of 5 personality types you are. Unlock your money personality to reach your goals sooner.
Consider your mortgage
If you have a mortgage, rates are increasing. Many have enjoyed a good few years of low rates. Now they are on the up, it’s a good time to reassess. Are you set up for further rate rises, or do you need to restructure your mortgage? Engage an expert to help you. And of course, paying off extra regularly can make a big difference.
Information correct as at December 2021. Pie Funds Management Limited is the issuer and manager of the JUNO KiwiSaver Scheme. Click here for our Product Disclosure Statement. Any advice is given by Pie Funds Management Limited, and is general only. It relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees if you act on any advice. As manager of the Scheme we receive monthly fees that are determined by your balance and whether you are 13 years or over. We will benefit financially if you invest in our products. We manage any conflicts of interest via an internal compliance framework designed to ensure we meet our duties to you. For information about the advice we can provide, our duties and complaint process and how disputes can be resolved, visit www.junofunds.co.nz. All content is correct at time of publication date, unless otherwise indicated. Past performance is not a guarantee of future returns. Returns can be negative as well as positive and returns over different periods may vary. Please let us know if you would like a hard copy of this disclosure information.