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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 Fixed Interest and Bonds.

Bank Term Deposits

In New Zealand a deposit with a Registered Trading Bank is generally regarded as second only to Government Stock in terms of security. But note they DO NOT carry a Government Guarantee.

You invest for a "term". You promise to leave the money with the bank for a fixed period of time. In return the bank promises to pay you interest at a fixed rate for that term. Depending on the bank, interest may be paid monthly, quarterly, six monthly, annually or on maturity. Find one that suits your needs.

Resident withholding tax (rwt) will be deducted by the bank at a rate nominated by you. Be sure to nominate a rate or they will automatically deduct rwt at 33%.

Terms are available from 30 days to 5 years. Banks will occasionally have special rates for a maturity term where they need the money to "balance their books" and so you might be able to pick up a little bit more interest than otherwise.

It used to be  easy to break a term deposit if you needed the money early but that is no longer the case. Be sure to check on the consequences of breaking the term of the deposit before you commit to a term.

To find the latest rates you can go to your banks website or visit Interest.co.nz where they will show you a list of the current rates available for a range of banks. And other fixed interest offerings from other non-bank institutions, Beware you will be taking more risk for the usually higher return from no-banks.

For terms less than 12 months go here >>> https://www.interest.co.nz/saving/term-deposits-1-to-9-months

For terms greater than 12 months go here >>> https://www.interest.co.nz/saving/term-deposits-1-to-5-years

For those on a marginal tax rate of 30% or 33% a Term PIE, may be advantageous to you because a PIE caps your tax rate at 28%. Term PIEs are term deposit funds that offer investors the tax advantages of the Portfolio Investment Entity regime, and they pay tax on investment income based on the prescribed investor rate (PIR) of their investors, rather than at the entity's tax rate.  Use interest.co.nz's our Deposit Calculator to work out the after-tax savings that will apply to you.

For current Term PIE rates being offered visit here >>> https://www.interest.co.nz/saving/term-pie

Fixed Interest, Term Deposits

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