My Money

Something to think about for managing your money

We haven't paid the full interest rate on our mortgage(s) in years. It's not a trick, it's an offset account, and many Kiwis don't realise their bank probably already offers one.

An offset account is a savings account (or multiple accounts) linked to your home loan. The bank subtracts your savings from your loan balance before calculating interest. So on a $400k loan, you might have $350k on fixed and $50k on floating, and if you've got $50k in savings sitting in offset, you'd pay zero interest on that $50k chunk.

Here's what that looks like on one of our loans right now: we're offsetting 84% of a ~$30k portion. That drops our effective rate from 5.94% floating down to 0.92%.

Our goal is always 100% offset, so we pay zero interest on that portion. We're a bit under right now after some tax payments came out, but that's what we work back towards.

Across our whole property portfolio we owe just over $600,000, split into lots of different chunks, mainly fixed across multiple terms, some floating and offset.

It's also a big part of how our budgeting system works. Our BNZ Total Money loan lets us offset up to 50 accounts, so our blow money, bills, groceries, many many sinking funds, and emergency fund all sit in separate accounts, each doing its own job, while all offsetting the mortgage.

A few things to know:
🔸 Only float and offset what you can actually cover with savings - you need to have cash in the bank for this to work
🔸 Some banks charge a monthly fee for the facility (ours is refunded through a loyalty package)
🔸 You can usually make lump sum repayments anytime, penalty-free.

BNZ, Westpac and Kiwibank all offer offset accounts if you want to see how it stacks up for your loan. Others offer revolving credit which is more like a giant overdraft and not how I like to manage my money but it can suit many people.

Do you use an offset account? Link's in the comments if you want the full breakdown 👇

Teaching children about money - have you heard about Moneytime?

Moneytime - programme being run in NZ Schools
Do you know what your children are bing taught in school?

This is brilliant and I only just found out from my 10 year old’s teacher because he logged in and didn’t complete the module?

Apparently there are modules they are supposed to complete with parents – giving you a heads up so you don’t miss this experience to connect with your child and build some fundamental life skills.

MoneyTime is the ideal homeschool financial literacy curriculum for 10 to 15 year old kids in New Zealand and Australia.

It combines 30 self-directed personal finance lessons with an interactive game. It teaches them the key principals of successful money management then they learn through trial and error what works while having fun

MoneyTime comprehensively provides the building blocks for your child’s financial future; from earning, saving and investing, to purchasing property, business and insurance

MoneyTime also includes 13 modules created specifically for you to complete with your child. They are optional but recommended as they put your child’s learning into real life context and give them an awareness of real living costs

MoneyTime is an online, self-directed financial literacy program for New Zealand children aged 10–15, featuring 30 interactive, gamified lessons covering earning, saving, investing, and taxes. Used by over 700 schools and 60,000 students, it fits into theNZ curriculum and is also available in te reo Māori.

www.moneytime.co.nz

Key Aspects of the MoneyTime Curriculum

Target Audience: Students aged 10–15 (intermediate and high school levels).

Structure: 30 self-directed, modular lessons that combine interactive gameplay with financial education, reducing the need for direct teaching.

Topics Covered: Saving, budgeting, debt management, investing in shares/property, business basics, taxation, insurance, and career planning (e.g., CV writing).

Gamification: Students earn virtual money for correct answers, which they can spend in virtual stores, helping them make practical, risk-free financial decisions.

Curriculum Alignment: Designed to align with the New Zealand curriculum's financial capability progressions.

Flexibility: Suitable for both classroom use and as a homeschool financial literacy curriculum for New Zealand kids.

Accessibility: Offers a te reo Māori version, ensuring money education for New Zealand kids online at home is accessible to immersion schools.

Parental Role: Includes 13 modules designed for students to complete with parents to encourage family discussion, according to MoneyTime's overview of their program.

Curriculum Context in NZ

Schools Integration: Financial literacy in the New Zealand curriculum is increasingly vital. While some financial math is in the math curriculum, personal finance often fits within Social Studies.

Purpose: The curriculum aims to help students move from "trial and error" with money to making informed financial decisions.

Highly recommend you engage with your children on these matters and don’t be embarrassed if you learn something along the way.

MoneyTime MoneyTime is an online financial literacy program for schools, homeschoolers and home use. Created in NZ to teach financial education to children aged 10 - 14.

Is it worth switching banks? Some food for thought in this article:

Kiwis love complaining about banks but never switch. Here’s why most of us don’t bother Perceived lack of competition and difficulty combine into an overpowering inertia.

Navigating Rising Costs and Uncertainty in New Zealand: Practical Steps to Stay in Control

If it feels like everything is getting more expensive lately—you’re not imagining it.

Across New Zealand, many households are feeling the squeeze. Fuel prices continue to fluctuate, the cost of groceries and essentials remains high, and uncertainty around employment is making it harder to plan ahead with confidence.

While these challenges are real, there are still practical steps you can take to regain a sense of control and protect your financial wellbeing.
1. Focus on What You Can Control
It’s easy to feel overwhelmed by factors outside your control—global fuel markets, inflation, or economic shifts. Instead, bring your attention back to the things you can influence:
• Your spending habits
• Your savings strategy
• Your debt management
• Your financial planning
Even small adjustments can make a meaningful difference over time.
________________________________________
2. Review Your Weekly Spending
Start with a simple question: Where is my money actually going?
Fuel and food are two of the biggest pressure points right now, so it’s worth taking a closer look at:
• How often you’re driving and whether trips can be combined
• Subscriptions or expenses you may no longer need
• Opportunities to switch to more cost-effective providers (insurance, power, broadband)
A quick review can often uncover $50–$100 per week in savings without drastically changing your lifestyle.
3. Build a Buffer (Even a Small One)
With job security feeling less certain for many Kiwis, having even a small financial buffer can reduce stress significantly.
If saving feels difficult right now, start small:
• $10–$20 per week is a great beginning
• Use automatic transfers so you don’t have to think about it
• Treat it like a non-negotiable bill
The goal isn’t perfection—it’s progress and peace of mind.
________________________________________
4. Stay Proactive About Employment
If you’re feeling uncertain about your job, it’s better to act early rather than wait.
Consider:
• Updating your CV and LinkedIn profile
• Checking what roles are currently in demand
• Upskilling or taking short courses where possible
• Having conversations with your employer about stability and future plans
Even if you don’t need to make a move, being prepared puts you in a stronger position.
________________________________________
5. Be Strategic With Debt
Rising interest rates mean debt can become more expensive over time. If you have loans, credit cards, or a mortgage, now is a good time to:
• Review your interest rates
• Prioritise paying down high-interest debt first
• Talk to your bank or adviser about restructuring options if needed
A small change in your repayment strategy can save you thousands over time.
6. Don’t Go Through It Alone
Financial stress can feel isolating—but you’re not alone. Many New Zealanders are navigating the same challenges right now.
Talking to a financial adviser or using tools that help you track and manage your money can provide clarity and confidence.
________________________________________
Final Thoughts
Times of uncertainty can feel uncomfortable—but they also create an opportunity to reset, refocus, and build stronger financial habits.
You don’t need to have everything figured out today. What matters most is taking the next small step.
Because even in uncertain times, having a plan—even a simple one—can make all the difference.

https://youtu.be/6UP0FRHmKE0

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