OPINION: Christmas is when card machines go brrrrr, but if you’re looking to do more with your money and set yourself up for a strong 2022, I’ve put together a list of free financial products that offer serious value.
Best of all, there’s no catch – they’re all listed to improve your financial wellbeing.
It has been a slow spring/summer for anyone wanting to redeem Airpoints for flights.
However, I argue that Airpoints is one of New Zealand’s best loyalty schemes.
I also like that you can earn Airpoints Dollars in so many places on everyday spending with or without a credit card. The result is that everyday essential spending can build up a lot of Airpoints Dollars.
READ MORE:
* Kiwis spend $1.6m a day on credit card costs: here’s how to get out
* It’s time to stop accepting zero returns from savings accounts
* Spending surges at bars, cafes and hair salons as Aucklanders splash out during first weekend out of lockdown
While the Airpoints Store is popular, our latest research, How to Spend Airpoints Dollars, suggested that spending directly at retailers redemptions offered the best value beyond flights.
If you’re looking for gifts, the Airpoints store has awards from around 15 Airpoints Dollars, so you don’t need to spend a lot to get something back.
There’s a lot of paid services, but we overlook the free options that offer a lot of entertainment.
My favourite is Kanopy (available through many public libraries), but many others spare you from ongoing charges – TVNZ OnDemand, ThreeNow, Māori Television, NZ on Screen and Tubi.
You get both movies and TV, most of it advert-free. While streaming isn’t a financial product, the savings you can make by cutting out a seldom-used subscription make it worthwhile to consider.
Our list of free streaming services covers everything available right now.
I’m a big fan of Kiwibank’s Sweep feature. I understand it is the only bank offering such an innovative tool.
It works as follows; you set a minimum and maximum balance you want to keep with your everyday bank account.
If and when your balance falls below your minimum, money is "swept" back from your savings account to restore the balance to the minimum balance level.
Conversely, when your balance exceeds your maximum, everything over the maximum is swept into your savings account.
The benefit is that you avoid any pesty overdraft charges. But, most importantly, you can grow your savings by automatically moving money to an account that keeps it out of sight.
I’m a fan of SquareOne, the app and debit card for children that moves chores and pocket money into the digital age.
There’s a lot to like for both parents and children and the app is packed full of features.
A few banks have tried to innovate around kids and money, but it’s harder than it seems; the recent hiatus of ASB’s Clever Kash is one of many examples of how tricky it is to get the message across.
So, if you’re looking to try new things and get the kids involved around the house ‘for reward’, then SquareOne could be the answer.
Several financial literacy courses are available throughout New Zealand and online, running multiple times a year.
The Open Polytechnic, Christians Against Poverty and Te Wānanga o Aotearoa are all examples of what’s available.
There are many benefits from enrolling in a well-respected respected course. They have a track record of helping thousands of New Zealanders better understand money.
Whatever you decide, I wish everyone a fantastic Christmas and New Year, and best of luck if you’re waiting for exam results.
The MoneyHub team and I are working over the new year period to bring out several new guides that will, we hope, help Kiwis
make better financial decisions.
– Christopher Walsh is the founder of MoneyHub.co.nz and leads its research team.
© 2021 Stuff Limited
