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Christmas Present Tips for Guys

Christmas Shopping Tips for Guys

giftgreen1Most of us guys are useless at Christmas shopping. Here's a few tips I've picked up over the years.

Ladies, you might want to share this with the men in your family to avoid getting an undesirable and badly wrapped present this Christmas.

  1. Buying your Christmas presents at a petrol station or dairy on Christmas morning really isn't the done thing - apparently not everyone wants a funnel, box of biscuits or a car care kit. Don't do it.
  2. Get started early, no not on Christmas Eve, yesterday was already too late.
  3. First thing in the morning is the best time to Christmas shop, and I mean first thing, teenagers are still in bed.
  4. It's not the thought that counts, it's how MUCH thought that counts.
  5. Cash is a GREAT present for teenagers - and me.
  6. If you must give gift vouchers make sure they are from a shop the recipient actually shops in and try and avoid those with an expiry date.
  7. Wrapping and cards are important, you and I know it's just paper but for some reason they are important.
  8. Before you start browsing in a shop check that it does gift wrapping and accept the service - wait if necessary. If the shop doesn't do gift wrapping move on to the next. Unless you are an expert present wrapper - Yeah Right!
  9. Even if every present you buy is gift wrapped, buy plenty of wrapping paper and sellotape. You are going to need it because dairy's and petrol stations don't gift wrap and being a bloke you'll probably ignore number 1.

Guys ignore the above at your peril and have a wonderful Christmas.

Posted in KiwiSaver.

FMA KiwiSaver Health Check

KiwiSaver logo180 The Financial Markets Authority (FMA) is encouraging people to get their KiwiSaver fighting fit during Money Week.

You can give Bay Financial Partners a call on 07 578 3863 or take the FMA's simple KiwiSaver health check below to make sure your KiwiSaver Account is on track to help you achieve your retirement goals.

1. Do you know who your KiwiSaver provider is?

  • It’s important to know who your provider is, because they are looking after your money for you
  • You can use the My KiwiSaver tool to find out who your provider is – you’ll need your IRD number to register.

2. Do you know what type of fund you are in?

  • Most KiwiSaver providers have a choice of different types of investment funds where you can put your money
  • Each fund has a different mix of things it invests in – such as bank deposits, bonds, shares and property
  • Your KiwiSaver fund should match your investor type - your investor type depends on things like how long you are investing for, and how you feel about risk
  • Your investor type may change over time or as your personal circumstances change, so remember to revisit that from time to time
  • Examples of fund type include defensive, conservative, balanced, growth, or aggressive
  • You can use the KiwiSaver Fund Finder to find the right fund for you.

3. Is your KiwiSaver on the right tax rate?

  • The money your KiwiSaver investments earn is taxed
  • The tax rate you pay is called a PIR (short for ‘prescribed investor rate’) and can be either 10.5%, 17.5%, or 28%.
  • If you don’t make sure you’re on the right tax rate for you, you could end up paying more tax than you have to – and you won’t be able to get that money back
  • Check with your provider to find out what tax rate you’re on and make sure it’s the right one for you
  • You can also find out more in the KiwiSaver and tax section at ird.govt.nz/kiwisaver

4. Do you know how much money you have in KiwiSaver?

  • It’s important to keep track of your KiwiSaver balance, as it’s the money that will help you enjoy your retirement
  • Try using the KiwiSaver account calculator on Sorted to see how your current balance could grow between now and when you retire, and what kind of weekly retirement income it might give you.
  • Your provider must provide you with an annual statement that includes details of your personal KiwiSaver balance and the contributions received.

5. Do you think KiwiSaver is government guaranteed?

  • No it’s not - every investment comes with some level of risk, including KiwiSaver. The important thing is to understand your own risk profile and use that to find the right KiwiSaver fund for you.
    • Your provider must provide you with an annual statement that includes details of your personal KiwiSaver balance and the contributions received.
    • The FMA closely monitors providers making sure they follow the rules and act in your best interests.

KiwiSaver Logobayfinancialpartners.co.nz is operated by Bay Financial Partners Limited  and is not endorsed by, or affiliated with, the government or Inland Revenue. Bay Financial Partners Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.

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