Money Month: Pause and Get Sorted!

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This August, it's Money Month and we want to celebrate the mahi Te Ara Ahunga Ora Retirement Commission and sorted.org.nz; have done to encourage Kiwis to pause, get their money sorted, and take control of their financial wellbeing.

These have been tough times for everyday Kiwis, making it more important than ever to talk about money and share knowledge that can help you make the most of it.

Here are some quick tips that can help make sure that if life throws you a curve ball you don't need to consider debt to help:

Remember the relief you felt with your reset?

A reset can come from a financial reset, a life reset, or starting a new chapter in your life. A pause creates space for us to reflect on where we are, and think about where we'd like to be. It can feel like there are lots of things outside of our control at the moment. Identifying things, no matter how small, that you can do to take action and control of your own situation is empowering and motivating

Customer tips

Let's recreate that feeling and that motivation.

When you started your financial reset with us we will have told you how much money we've put back in to your pocket. Do you remember how much that was? Check out how much less your repayments were (or how much closer your debt free date it)

What did you do with this money? It's not too late to come up with a plan. Get in touch if you'd like us to remind you of the amount you saved, so that you can review your spending and update your plan

Some quick tips from Team Spotty

1. Sasha says: Create a savings account within your bank app and call it something that means something to you. Our CEO, Sasha, says I have one called Emergencies and another one called Christmas & Holidays. I have an amount that goes to both of them each pay day. Sometimes we need to dip in to the savings (my car broke down three times in the last two months!) but the automatic payment keeps going anyway.
2. Jarrod says: He creates accounts for specific purposes. Him and his partner are buying their first home so they are currently thinking about how they need to change things up now they have a mortgage. If you've got any tips for him email us!
3. Rig says: If you're thinking about buying something wait 24 hours before you get it. Mind you, Rig also knows that it isn't always that simple.... he bought a massive meat smoker last year!

When should I start my reset?

The best time to start was yesterday, then next best time is right now. It doesn't need to be a huge step, the progress is in lots of baby steps.