The member deleted this message.

mals69 - 2021-02-27 07:39:00

Put in Kiwisaver or buy shares yourself.

Edited by amasser at 8:51 am, Sat 27 Feb

amasser - 2021-02-27 08:50:00

This message was deleted.

mals69 - 2021-02-27 09:32:00

It will be funny when they start to go up and up and don't stop.

ash4561 - 2021-02-27 09:37:00

The member deleted this message.

ash4561 - 2021-02-27 09:37:00

ash4561 wrote:

It will be funny when they start to go up and up and don't stop.

Sure will, all the resulting bankruptcies and mortgagee sales and that. Hysterical.

sparkychap - 2021-02-27 09:46:00

I don't understand why credit card rates are still 20%. That's what they were when retail rates were almost 10%. Profit margins in the stratosphere.

esprit - 2021-02-27 10:14:00

esprit wrote:

I don't understand why credit card rates are still 20%. That's what they were when retail rates were almost 10%. Profit margins in the stratosphere.

What are credit card interest rates?

sparkychap - 2021-02-27 10:30:00

esprit wrote:

I don't understand why credit card rates are still 20%. That's what they were when retail rates were almost 10%. Profit margins in the stratosphere.

my CC is at 9.9% - used to be 6.9% when I worked for them LOL but you lose that when you quit.... c'est la vie. It is definitely worth shopping round for rates.

jamesnmatt - 2021-02-27 11:33:00

Auckland houses made 20%. Maybe invest in a house (but leave it empty cause the tenancy rules are nuts) and rally everyone to vote Labour in again?

pcle - 2021-02-27 12:55:00

pcle wrote:

Auckland houses made 20%. Maybe invest in a house (but leave it empty cause the tenancy rules are nuts) and rally everyone to vote Labour in again?

I like empty houses at least you don't have to pay rent for them.

ash4561 - 2021-02-27 17:43:00

This message was deleted.

kittycatkin - 2021-02-27 18:50:00

The scary thing about buying a house and leaving it empty, it puts pressure on rents and future house price rises.

laurelanne - 2021-02-27 19:46:00

This message was deleted.

mals69 - 2021-02-28 09:09:00

mals69 wrote:

You do being facetious real well.

Thanks mate. I hope the underlying sarcasm also come through.

sparkychap - 2021-02-28 09:33:00

laurelanne wrote:

The scary thing about buying a house and leaving it empty, it puts pressure on rents and future house price rises.

Indeed, good point. And highlights the selfishness and anti-social nature of anyone who would take a scarce resource and horde it for their own personal profit.

sparkychap - 2021-02-28 09:37:00

sparkychap wrote:

What are credit card interest rates?

expensive

jethrocat - 2021-02-28 12:16:00

Does anyone actually have savings when they have a mortgage or is that just robbing Peter to pay paul? ????

Edited by lakeview3 at 12:54 pm, Sun 28 Feb

lakeview3 - 2021-02-28 12:54:00

sparkychap wrote:

Indeed, good point. And highlights the selfishness and anti-social nature of anyone who would take a scarce resource and horde it for their own personal profit.

awww, the compassion.....

Edited by lakeview3 at 1:00 pm, Sun 28 Feb

lakeview3 - 2021-02-28 12:55:00

lakeview3 wrote:

awww, the compassion.....

Glad you edited that other comment.

Edited by sparkychap at 1:03 pm, Sun 28 Feb

sparkychap - 2021-02-28 13:03:00

sparkychap wrote:

Glad you edited that other comment.

yes it came out wrong

lakeview3 - 2021-02-28 13:27:00

esprit wrote:

I don't understand why credit card rates are still 20%. That's what they were when retail rates were almost 10%. Profit margins in the stratosphere.

My understanding is CC companies factor in a 35% default rate, hence the people that pay, pay!

jeffqv - 2021-02-28 15:18:00

Yep, minuscule interest rates on my savings is why I took part of my savings and rage-bought a rental last year.

cognition - 2021-03-01 08:49:00

Easier to invest into a commercial property unit trust?
5% return less 28% tax - so ~3.6%. Still not even covering "real" inflation...

pcle - 2021-03-01 11:38:00

lakeview3 wrote:

Does anyone actually have savings when they have a mortgage or is that just robbing Peter to pay paul? ????

Silly if they do.

neell - 2021-03-01 12:44:00

amasser wrote:

Put in Kiwisaver or buy shares yourself.

Shares, yes, we had $30,000 in shares back in the day...Brierly, Goldcorp etc.
We lit the fire with them in the end.

lythande1 - 2021-03-01 12:50:00

neell wrote:

Silly if they do.

Silly if they don't!

loukirby - 2021-03-01 15:52:00

kittycatkin wrote:

I changed to a debit card years ago, it was a really good move. All the advantages of a credit card and none of the expense.

How much free credit do you get from a debit card?

loose.unit8 - 2021-03-01 16:36:00

loose.unit8 wrote:

How much free credit do you get from a debit card?

None, no credit at all.
That's the best thing about them.

neell - 2021-03-01 17:10:00

loukirby wrote:

Silly if they don't!

I have to disagree. Totally disagree in fact.
Why have money sitting in a savings account getting 0.20% (less tax) interest when you are paying 4% (or there about) on money you have borrowed.

neell - 2021-03-01 17:15:00

neell wrote:

I have to disagree. Totally disagree in fact.
Why have money sitting in a savings account getting 0.20% (less tax) interest when you are paying 4% (or there about) on money you have borrowed.

More tax benefits can be got on paying interest perhaps and you have money for more important things than paying the mortgage.

ash4561 - 2021-03-01 18:04:00

ash4561 wrote:

More tax benefits can be got on paying interest perhaps and you have money for more important things than paying the mortgage.

More important than paying your mortgage???
OK, as you were.

neell - 2021-03-01 18:13:00

neell wrote:

More important than paying your mortgage???
OK, as you were.

Add the minor dwelling or need to upgrade the dolls house or will have to give all the tenants rent back.

ash4561 - 2021-03-01 18:19:00

neell wrote:

I have to disagree. Totally disagree in fact.
Why have money sitting in a savings account getting 0.20% (less tax) interest when you are paying 4% (or there about) on money you have borrowed.

I have been asset rich cash poor before and much prefer asset rich cash much better off. My mortgage is also very small.

loukirby - 2021-03-01 18:43:00

Huge interest hike rates. ASB has almost doubled its rates for deposits on 5 year term up to 1.75 % shorter term 9 months rose from .75 to .80%. not what I would title huge hike.

Edited by ash4561 at 9:16 pm, Tue 2 Mar

ash4561 - 2021-03-02 21:15:00

loukirby wrote:

I have been asset rich cash poor before and much prefer asset rich cash much better off. My mortgage is also very small.

I hear you - way much better to be in the latter. We all know people that are asset rich but live week to week or month to month, everything on tick -money is so cheap why would you want anything in the bank. I saw an article today may have been from the ASB that people are running low on funds ie cash, I believe you still need that buffer - cash at hand - and we are all different, but you want play money, 50k 100k 200k ? I know interest rates are low but you still want money in your kick just in case.

ian86 - 2021-03-04 20:50:00

Yes, for some "just in case".
Others have revolving credit with their bank, so can get extra money without having to go to bank, cap in hand.

smallwoods - 2021-03-04 22:26:00

ian86 wrote:

I hear you - way much better to be in the latter. We all know people that are asset rich but live week to week or month to month, everything on tick -money is so cheap why would you want anything in the bank. I saw an article today may have been from the ASB that people are running low on funds ie cash, I believe you still need that buffer - cash at hand - and we are all different, but you want play money, 50k 100k 200k ? I know interest rates are low but you still want money in your kick just in case.

I got a flat tyre this week and, for a variety of reasons, it cost me $750! To add insult to injury I had to drive on my spare at max 80kpm - from Levin to Wellington and back. I put a sign in my rear window stating "Spare tyre MAX SPEED 80!" Fortunately, most must have read it, as no one tooted, drive up my arse, cut me off, glared or did anything negative due to driving so slow.

loukirby - 2021-03-05 09:25:00

ian86 wrote:

I hear you - way much better to be in the latter. We all know people that are asset rich but live week to week or month to month, everything on tick -money is so cheap why would you want anything in the bank. I saw an article today may have been from the ASB that people are running low on funds ie cash, I believe you still need that buffer - cash at hand - and we are all different, but you want play money, 50k 100k 200k ? I know interest rates are low but you still want money in your kick just in case.

Asset rich - everything on tick = does not compute.
Items on tick are not assets, they are liabilities.

neell - 2021-03-05 10:09:00

neell wrote:

Asset rich - everything on tick = does not compute.
Items on tick are not assets, they are liabilities.

Whatever was bought is an asset (hopefully tangible). The debt is a liability.

loose.unit8 - 2021-03-05 10:25:00

Still not what I would define as "asset rich". If you still owe 80% of your car/house value, you are not asset rich/cash poor. That is more like I was a few years ago with an unencumbered house in Auckland, but only working part-time. I had a large amount tied up in an asset, but not a lot of cash for day - to day living.

cinderellagowns - 2021-03-05 11:27:00

cinderellagowns wrote:

Still not what I would define as "asset rich". If you still owe 80% of your car/house value, you are not asset rich/cash poor. That is more like I was a few years ago with an unencumbered house in Auckland, but only working part-time. I had a large amount tied up in an asset, but not a lot of cash for day - to day living.

Exactly. owning a mortgage free house does not pay the supermarket bills... it is having a mortgage free house PLUS an income some of which you do not have to divert off to pay of a mortgage that can make the difference or at least help!

onl_148 - 2021-03-05 13:47:00

cognition wrote:

Yep, minuscule interest rates on my savings is why I took part of my savings and rage-bought a rental last year.

Same. Didn't want to be a landlord but sort of forced into it.

yennik - 2021-03-05 13:58:00