Adult Kids Putting Pressure on Over 50s Saving for Retirement
Keith Ardren
Some Bay baby boomers are heading into retirement crippled with mortgage debt or without their own home, experts say. High wage earners aged in their 50s were also seeking financial advice due to “peer pressure to keep up with Joe Blogs down the road” and “the ongoing funding of adult children”. There is the peer pressure to keep up with Joe Blogs down the road, he has got that car or that trip overseas. Read More
Course Gives Money Tips to Low-earners
Budgeting: Tauranga Budget Advisory Service co-ordinator Diane Bruin, left, and educator Debbie Green.
“Living on a low income is very difficult. We could all do it for a week, but month in and month out, everyday life is stressful and difficult,” a local budget advisor says. Read More
Lack Of Savings Leaves Many Seniors Not Ready For Pension Life
Many of Rotorua’s elderly are not prepared for life on the pension and are merely “existing”, according to Grey Power Rotorua president Rosemary MacKenzie.
Retirement is meant to involve more time spent with family and friends, not worrying about how you might afford car repairs, rates increases or other unexpected costs, according to Mrs MacKenzie.
Many Leave Saving Too Late
And Bay financial experts say more people are leaving it too late.
Changes to the Credit Contracts And Consumer Finance Act
Editorial: Budget Advice Needed
Anything can be bought on credit these days.
Most people have a credit card, few students survive university without an overdraft and a student loan and stores encourage you to use hire purchase to buy everything from a gaming console to a washing machine or a car.
It’s no wonder then that people struggle to save the deposit for a house.
New Hope for First-Home Buyers
OPEN TO ADVICE: Kelly Mead said she would consider using the new scheme when the time came to buy a home for her and her daughter, Ashleigh Ford.
A ground-breaking scheme to help renters save a deposit for their first home has been launched in Tauranga.
The Government-backed pilot scheme, believed to be a New Zealand first, has been launched by Tauranga Budget Advisory Service and will involve budget advisers managing all or some of their clients’ income so they can save a deposit.
City’s Rental Housing In Crisis
Nikki McAllister works full-time, supports her sons, is actively applying for rental properties, but cannot secure a home for her family.
Rents Climb and Tenants Seek Financial Advice
Thousands of Bay tenants could be in for a shock as experts predict rents will continue to rise this year as demand for rental properties soars.
Trade Me figures show there was a 30 per cent drop in the rentals advertised on its site in 2014 and Ross Stanway, chief executive of Realty Services, which operates Bayleys and Eves, said demand was higher than supply for good rental properties.
Budget Advice Staff Stretched
People should exercise caution with their spending over Christmas and seek help if they are facing financial difficulties, says Tauranga Budget Advisory Service manager Diane Bruin.
“A problem shared is much better than hiding behind the financial issues people face every day. Our budgeters offer ideas and assistance that people may not otherwise be aware of.”