All in Personal Finance
In February 2020 I went to Dunedin to spend the day with the PocketSmith team. I asked my audience if there were any specific questions they had about using the PocketSmith budgeting software and I put those questions directly to the support team in the office. PocketSmith has answered all of your questions and I’m the first to admit that I’ve learned a thing or two by reading them.
I’ve had a “conscious uncoupling” from worldwide events and am instead reflecting back on the basics of how Jonny and I operate to make sure we are steering our waka in roughly the right direction during these rough waters. This is the first more serious market dip I’ve been through but I’ve read enough and learned enough from those who have gone before to know that the right thing to do is just hold my course and hold my nerve.
I originally wrote this blog post back in December 2018 and I’ve decided it was time to make a few updates to it so that all those people reading the book for the first time and those who are following along with the Barefoot Investor principles have a good New Zealand resource to come to. If you have read my original post, while it’s still relevant, this one is quite different because it takes into account different providers of services, so I encourage you to read this one too!
We all discover some tips, tricks and shortcuts in life that are real time savers, or they just help us understand our place in the world a bit better, but it takes someone to tell us about them in the first place. I consider the Rule of 72 and Sharesight as two useful personal finance hacks, which of course I’m happy to share.
I’ve waited a long time to fill out my own Net Worth Millionaire Questionnaire! YES, our net worth has finally ticked over from 6 numbers to 7 and it’s fair to say I’m delighted. But what is the purpose of me and other people sharing this information? It’s so that you can apply it to your own situation and see the variety of ways that other Kiwi’s have created wealth for themselves and know that it is possible for you as well.
As 2019 drew to a close one of the things I was looking forward to was the fact I get to start a whole new BUDGET for 2020! I’m telling you this in my first blog post of the decade because I’m convinced that tracking income and expenses are a major reason why and how people take control of their money.
Each week I get a lot of emails and it takes up a lot of time, but it’s an honour to answer each of them. People just want someone to ask a money question to but in their day to day lives it’s a complete lottery as to whether they can find the right person in their friend group to talk to, so they write to me instead. So, I just wanted to share with you an edited version of an email exchange I’ve been having with someone over the last few months which will give you an insight into what kind of stuff comes up when I chat to people.
A few weekends ago a young guy was scanning my groceries and he was chatting away about his final exam and his finish date. When I asked him what he had planned for the summer, he said he will be working for about 35 hours a week. Although I was desperate to ask him the finer details of his financial life, I didn’t want to freak this young guy out so I kept my questions to myself. But my absolute main one was “what is a 16-year-old proposing to do with all the money they will make this summer?
Way back in February 2019 I created an account with Hatch, they were a very new startup at that time and many people had sent me emails asking me to look into them. They have created a simple and intuitive platform that has cut out a lot of the jargon and brokerage fees and made it pretty straight forward for you and I to invest in the biggest companies in the world.
