Cooking The Books

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to get cash back for your work from home expenses. Hosted by Frances Cook.If you’re one of the people who’s been lucky enough to work from home during the pandemic, you’ve probably got a question about now; can I claim expenses for this? You don’t need me to tell you that it’s uncertain times now, and every bit you can save on expenses can help you prepare for the coming rainy days. After all, your electricity and your internet useage have probably gone up. Those who are self-employed can claim tax back on that, as well as part of their rent or mortgage interest.So what about if you’re an employee, can you get those expenses back? Well yes, but through a slightly different system. The good thing is, it’s actually pretty simple. For the latest Cooking the Books podcast I talked to Terry Baucher, director of tax consultancy Baucher Consulting. We discussed the system for claiming expenses as an

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to feel more in control of your money in the midst of uncertainty. Hosted by Frances Cook.It’s tempting to think that money is all about facts and figures, but often it’s a mental game instead. You can know all the rules and best practice, but if you don’t actually do it, all of that knowledge is no good. So as things get uncertain out there it can be tempting to stick our heads in the sand, to pretend scary things aren’t happening, and not make any of the small adjustments we need to make. But actually there are easy steps you can take right now, in order to become stronger financially and more prepared for whatever is next. For the latest Cooking the Books podcast I talked to Money Mentalist Lynda Moore. We discussed how money uncertainty can impact mental health, first steps to feel more in control, and how to build an emergency fund in an emergency. If you have a question about this podca

The OneRoof property panel featured a live discussion between REINZ CEO Bindi Norwell, ANZ chief economist Sharon Zollner, Valocity Global CEO Carmen Vicelich, and Barfoot & Thompson managing director Peter Thompson. Listen in for insights on where our property market is now, and where it's going next.See omnystudio.com/listener for privacy information.

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's whether flexible working and changed work hours could be here to stay. Hosted by Frances Cook.Times of crisis also give us the opportunity for change. We’ve all drastically changed the ways we work in order to be safe during Covid-19. We’re zooming, chatting, and many of us are discovering we’re just as productive at home. For some of us, we’re actually even more productive. Now this clearly doesn’t apply to everyone, as some jobs must be done in person. But for the many who can work remotely, or with flexible hours, there’s been a taste of a different way to organise our lives. So now the question is, how much of this do we want to keep?For the latest Cooking the Books podcast I talked to Andrew Barnes, founder of Perpetual Guardian, and advocate for the four day work week. We discussed how flexible working actually increases productivity, whether offices are still needed at all, and how to have

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how your KiwiSaver is protected, and the limits to that protection. Hosted by Frances Cook.In a crisis our brains have a fun little quirk, where they tend to go straight to the worst case scenario. Now this can be a good thing to help you plan for the future and avoid that worst case scenario. But it’s less helpful for something like KiwiSaver, which most of us know is very important but might get fuzzy around the edges when it comes to understanding the rules. So I’ve had people sending me worried questions about if their KiwiSaver balance will crash all the way to zero, if the government will confiscate their money if the economy goes bad, or what happens if their KiwiSaver provider goes bust. The good news is KiwiSaver was set up with lots of protections for exactly these situations. For the latest Cooking the Books podcast I talked to Public Trust CEO Glenys Talivai.We discussed how what happ

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's the digital changes reshaping how houses are sold. Hosted by Frances Cook.Even as we come down to level three many businesses are struggling to figure out how they can operate within the social distancing requirements that are our new normal. Property is a prime example, whether we're talking about buying or renting. Of course you want to see your home or major investment in person before you commit to it. But under level three agents are only allowed to do private showings, greatly restricting the numbers of people that can go through. It's health first of course, and that's important. So to work within those rules many are already getting creative. OneRoof has launched a new tool that lets people view homes virtually, giving you a much better idea of the place than a picture would. The technology did already exist, but now the sector is taking it up wholesale. Over in Australia it's been taken

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's the best ways to start investing in New Zealand. Hosted by Frances Cook.There’s been lots of chat about whether you should be investing these days, with my inbox flooded with people wanting to give it a try. To recap, the answer is a cautious yes, as long as you do it in the right way – we’ve covered that in recent podcasts. But what about the nuts and bolts of where you actually invest? You want something that’s low fee, easy to use, and lets you make the type of investments that suit your plan. So on the latest Cooking the Books podcast I talked to Herald careers and money writer Diana Clement about the main options for New Zealanders. We discussed the different investing platforms, how safe they are, and investing in individual companies versus funds. If you have a question about this podcast, or a question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to protect yourself from the new coronavirus scammers. Hosted by Frances Cook.It's a somewhat depressing quirk of humanity that in times of crisis, while most of us are working together to get through it, on the sidelines the scammers are always lurking. It's happening again with Covid-19. Around the world coronavirus-themed scams are spiking up, numbering in their millions. Some claim they have a health business you can invest in. Some claim they're the government trying to trace you in case you had contact with an infected person, and can you just give them your credit card number for a processing fee. Some will even claim your bank is in trouble, and you need to urgently send them your details to rescue the funds in there. As always, they use fear and urgency to try to steal information and money. As we come out to a lower level of lockdown, it's more important than ever to stay alert, as

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's the first steps for finding a new job. Hosted by Frances Cook.We’re leaving one of the longest periods of economic good times that we’ve had in decades. Unemployment is currently at just four per cent, but after going into lockdown, that number is expected to increase. Treasury has put out estimates that unemployment could stay under ten percent as long as the government continues giving extra financial support. Unfortunately even that best case scenario is still a sharp increase, that will see financial pain for many people. The good thing is we now have time to prepare, to think about what skills we have, and get ready for the reality of job interviews from quarantine. For the latest Cooking the Books, I talked to Kirsty Wynn, job market reporter for the Herald.We discussed the first steps to take after losing your job, how to put the word out so you get the jobs that aren't advertised, and how

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's the strengths in our economy, and how we can make the most of them. Hosted by Frances Cook.In times of trouble, one of the best strategies is to pivot to your strengths. So here in New Zealand we're pretty lucky, as we have a lot of strengths to work with and get through the coming months. So far we're doing well against Covid-19, which should mean we are able to bring back our domestic economy once the health threat is over. China is starting to recover, which means we could have one of our major trading partners back soon. New Zealand government debt was far lower than other countries before this started, which means we have more options for pumping cash back into the system, and kickstarting things again. For the latest Cooking the Books, I talked to Mark Lister from Craig's Investment Partners about how these strengths look, and how we can use them.If you have a question about this podcast, o

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to detangle the housing situation and make the most of it. Hosted by Frances Cook.The housing market is one where there’s always winners and losers. Buyers want low prices, owners want high prices, so whatever market forces are at play someone usually ends up disappointed.The problem is right now, things are so uncertain.We do have early indicators to help us read the tea leaves. The latest figures are for March, which take us just six days into lockdown, and it’s already looking rough out there. National house sale data from the Real Estate Institute shows we’ve hit a nine year low, with the numbers of houses for sale down almost five percent. When figures come out showing the rest of the lockdown it’s unlikely to get any prettier, but the real question is what will happen when lockdown lifts. We just don’t know.However whether you’re a buyer or a seller, I’m a big believer that no matter wh

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to weigh up whether you need to drain your KiwiSaver to survive Covid-19. Hosted by Frances Cook.There’s been a lot of chat lately about KiwiSaver hardship withdrawals. It’s easy to see why. Many of us don’t have savings easily to hand – a stat I talked about in a previous episode is that 58 per cent of New Zealanders have less than $500 in savings. Then you look at your KiwiSaver, which could have tens of thousands in it by now. With troubled times approaching, you might want it closer to hand. The problem is, if you take that money out before you need it you could be seriously hurting your future self. Because of compound interest, whatever you take now would have been worth a lot more by the time you retire. You're taking a bigger slice than it feels like you're taking.But it’s still better to tap into your KiwiSaver than to go under.For the latest Cooking the Books, I talked to authorised

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's why now is actually a good time to invest, and how to do it safely. Hosted by Frances Cook.It's a fact of life that when the market goes down, it's an opportunity for some people. Some even refer to times like this as the share market "going on sale", because stocks become so cheap. But if that's what you're hoping to do right now, you need to do it right. For starters, you need to be financially stable. Nobody knows what life will throw at us over the next few months, as we face down an unprecedented combination of economic and health crisis. So it's important that you have a healthy savings account, and manageable levels of debt. Some companies are likely to collapse in this crisis, and you need to factor in that it could be one you work for, or one that you've invested in.The investing strategy you bring in now could pay off big time in the future, and there certainly is money to be made in th

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how to sort through the different options available if you've lost your job. Hosted by Frances Cook.As our economy struggles through lockdown, the axe has already fallen on many jobs. While it’s well and good to say we need to plan for the rainy day, the reality is many people don’t have any savings, and now find themselves without any income either. Wages were flat for a long time before this current crisis, and some were already struggling.The last quarter of 2019 saw an increase in requests for both hardship grants and food parcels, compared to the same time in 2018. Now the Salvation Army has released a report on the social impacts already being felt from Covid-19. Requests for help to get food have spiked sharply, and there are worries about people who are in debt, and soon won’t be able to make payments. Many people will have to ask for help when they’re used to relying on themselves. For t

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's what you should expect from the housing market, and how to adapt to it. Hosted by Frances Cook.Your house may be your castle, but it's also the biggest investment many of us will make, and it comes with the commitment of mortgage debt. So as we try to ride out the severe shockwaves from Covid-19, you won't be surprised to learn the current situation is also a gamechanger for housing. For one thing, unemployment is going up, and every time that happens house prices tend to go down.With tourism stopped, AirBnB is a nonstarter. Many former hosts are either switching to go into the long-term rental market, or opting out entirely and putting the property up for sale. Either of those would be a big force for change on their own, but now we have that and many other issues forcing change all at the same time.So let's rip the bandaid off and start with the bad news, although I promise there is some good n

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's whether you should stop your KiwiSaver contributions while the market is taking a dive. Hosted by Frances Cook.Fight, flight, or freeze – when things go wrong, those are our instincts. And so, with KiwiSaver balances taking a dive around the country, many people are wondering if they should keep putting money in or wait until this settles down. While this is an understandable question, if you can afford to keep paying your other bills right now it’s actually the perfect time to be putting money into KiwiSaver. If you have lost your job, or are worried that you’re unstable and need every dollar you can get, then of course make sure you’re able to look after yourself now before you look after your future self. But if that’s taken care of, the way that KiwiSaver is set up means now is the time you can put money in and reap big rewards in the future. In fact, if you pause your contributions I’d go as

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how you can future-proof your finances even if you don't have savings. Hosted by Frances Cook.The rainy day has arrived. Now is the time when a savings account can help you ride out the turbulence and give you peace of mind. The problem is that as New Zealanders we're one of the worst in the world for saving our money. Figures from the Reserve Bank show that in 2019, New Zealanders as a group saved -0.3 per cent. As in, overall, we didn't save anything. In fact, most of us have been living beyond our means, and using debt to fund it. To put it another way, figures from finder.com show 58 per cent of us have less than $500 in savings. So if this is you, then you're absolutely not alone. And while hindsight is 20/20, there's no point berating ourselves for what we should or shouldn't have done in the past. What's more important is taking control of the things we can, today. And happily, there are l

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's the first steps you can take if you've lost your job. Hosted by Frances Cook.We’re in tough times, and the sad reality is that many of us are losing our jobs. If you’re coupled up and one of you loses your job, it’s a different type of difficult as there’s less safety net. You can’t get the same support from Work and Income, as your partner’s salary will be taken into account. But there are other things you can do to make the most of the one income you still have. You can stabilise your finances to give you breathing space to make it through this difficult time. For the latest Cooking the Books I talked to Tony Agar from Hamilton Budgeting Advisory Trust.We talked about the support available from Government and community groups, where to start in setting up and cutting back a budget, and what to do if you have any debts. For the podcast, listen on the player at the top of the article. If you have

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackle a different money problem. Today, it's why the current KiwiSaver bloodbath could work in your favour. Hosted by Frances Cook.This is the biggest test of our nerve since KiwiSaver began. Sure, when KiwiSaver was launched in 2007, we almost immediately had the global financial crisis. But nobody had much money in it at that time, so it wasn’t so bad. Now the economy is tanking, and the healthy nest eggs we’ve carefully put away in KiwiSaver are taking a dive. But even though this is new for many of us, it’s not necessarily a bad thing, as long as you can keep a calm head. Millionaires can be made in a recession, and if you handle this right, your KiwiSaver could boom. For the latest episode of Cooking the Books, I talked to Dr Ayesha Scott, senior finance lecturer at AUT. We discussed why KiwiSaver's have gone down, how some people could make money from this if they have time, and what to do if you wanted to use your KiwiSaver in the nea

Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how the mortgage holidays actually work, and whether you should consider one. Hosted by Frances Cook.As jobs fall like dominoes around the country, many are worried about how they keep paying their bills. Of course the biggest bill for many of us is housing, and you can’t really just stop paying it. Or can’t you? The Government and banks have come together to make the unusual step of allowing mortgage holidays. More than 10,000 New Zealanders applied for one in just the first few days. But a mortgage holiday isn’t your only option, it’s just the most extreme one. And if you take the holiday when you don’t need it, it could end up hurting instead of helping you.For the latest podcast I talked to Rupert Gough from Mortgage Lab. We discussed how the mortgage holiday works, how the different banks are bringing it in, and what other options you have that could be better for your future. If you have a