Rebel Finance School 2024

Rebel Finance School 2024

Ruth
Money Education, Personal Finance

The fact that I never manage to get to the bottom of my inbox because questions about money just keep rolling in tells me that there is a considerable need in Aotearoa for some decent independent financial education and advice. Financial literacy can only come from consistent education, willingness to learn, and taking action. But finding comprehensive information about money is difficult. If you want to understand the basics, get your head in the right space, and make lasting changes to your finances, I’ve got you covered today.

You should pay off your student loan, and here’s why.

You should pay off your student loan, and here’s why.

Ruth
Debt, Kids and Money, Money Education, Term Deposits

I want to explain why you will often hear me encouraging people to avoid taking out student loans or pay them off as fast as possible if they have them. My suggestion is more controversial than I realised, and I’m often taken to task for my view, particularly by more mathematically minded people. Over almost eight years of talking with people from all walks of life about money, I have found that student loans keep coming up in conversations with former students. The simple reason is that what is considered a relatively innocuous decision to take on interest-free student debt has far wider-ranging implications than those borrowers ever realised at the outset. I kōrero with many people, and the word that keeps coming up regarding student loans is simple: REGRET. The reason they now have regret is that the debt had impacts on their life that they never foresaw.

Applying the 4% Rule. We are selling!

Applying the 4% Rule. We are selling!

Ruth
ETFs, Gold, Sharesies, Shares, SmartShares, Investment, Index Funds

A year ago, I published a blog post titled “We Sold Some Investments: Putting our version of the 4% Rule to the test!” To cut to the chase, we’ve done it again. Having read about The 4% Rule for years and met many people who had retired early and were using it, back in 2023, we decided that we were not yet ready to retire, but pulling some income off our investments would improve our lives at that time. Finding more available cash without working more hours would allow us to do more of the things we wanted to do. 

Part 6: INVESTING - Financial Independence Series

Part 6: INVESTING - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth, Index Funds, ETFs

Congratulations, you have made it to the final blog post in this series of six: INVESTING. Investing can be incredibly complex, but I found a way to simplify it. I used to feel overwhelmed by the options available, but now I don't. I’m hoping to help you feel the same way. But still, this is one of the most challenging blog posts I have EVER written. Condensing “investing” into a single document is no easy feat. The Happy Saver was born out of my search for information about what I could invest our money in. It took me years to arrive at our current strategy, which combines KiwiSaver and ETF investments. Ultimately, I finally found THE perfect information, which I want to share today. 

Part 5: DEBT FREE - Financial Independence Series

Part 5: DEBT FREE - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth

I think of debt as a phase of life I moved through. That period has passed, and I’ve moved on. Jonny and I have now been entirely debt-free since our early 30s, and I encourage you to head down the debt-free path as well. Debt has always had an ‘ick’ factor for me, a feeling I am grateful for. I like earning interest, but I hate paying it. Despite our bank trying to lure us back into debt to buy a rental property, there has never been a day that I/we regretted becoming permanently debt-free. We never have to seek the bank's opinion about our financial decisions again.

Part 4: KIWISAVER - Financial Independence Series

Part 4: KIWISAVER - Financial Independence Series

Ruth
FI Series, Budgeting, Debt, Emergency Fund, KiwiSaver, Net Worth

The fourth part of this six-part series is one of the easier topics to cover, KiwiSaver. Joining KiwiSaver is a no-brainer, and it still surprises me when I meet people who are not in it. I’m always looking ahead and doing my best to determine what I might need money for and how much I might need. I keep my ear to the ground about how affordable retirement is for New Zealanders. I talk to people over 65 and ask them what advice they would give me about financially preparing for retirement. Then I ask myself if, on my current trajectory, I’m heading in the right direction.

Part 3: EMERGENCY FUND - Financial Independence Series

Part 3: EMERGENCY FUND - Financial Independence Series

Ruth
Budgeting, Debt, Emergency Fund, FI Series, Investment, KiwiSaver, Net Worth

The best thing I ever did was set some cash into a bank account, which we could instantly access in a financial emergency. It is an amount of money set aside in a specific bank account to be used for bailing myself out if something happens that I didn’t otherwise plan for but I need money to pay for. It takes me less than one minute to log into my banking and move money from my emergency account to my spending account. 

Part 2: BUDGET - Financial Independence Series

Part 2: BUDGET - Financial Independence Series

Ruth
Budgeting, FI Series, Net Worth, Debt, Emergency Fund, Investment, KiwiSaver

Budgeting is simply making a plan for your pūtea (money). Although I meet hundreds of people who are keen, motivated and willing to do better with their money, I meet few who are “Oh yay, let’s track our spending and earning each month”. I know. I understand your reluctance, but if you want to grow your wealth, you must do what wealthy people do. And they know how much they earn and spend. So, I’m sorry, there are no shortcuts here; you’ve just got to suck it up and budget anyway. Most will come to enjoy it as I do, simply because it gives me a feeling of control over my life and removes any anxiety around my pūtea. But for some of you, it will always be a chore. So be it! Do it anyway.

Part 1: NET WORTH - Financial Independence Series

Part 1: NET WORTH - Financial Independence Series

Ruth
Net Worth, Budgeting, Debt, Emergency Fund, Investment, KiwiSaver, FI Series

Welcome to the first post in a short six-part blog series. I’m crafting a collection of posts to cover critical areas that will set you on the right path with your pūtea. Part 1 focuses on ‘Net Worth’. How much wealth do you have right now? If you added it all up and subtracted what you owe, what are you worth? This can be daunting if you’ve never thought about it. However, the objective is not to objectify wealth; it’s to create a level of wealth that makes you feel comfortable and in control of your present and future.

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