Do you know how to make a budget, whether you should get a will, or how much money you need to retire comfortably?
These are just a few of hundreds of questions that Kiwis want answers to this Money Week.
In celebration of the annual awareness campaign, now in its tenth year, Sorted is encouraging New Zealanders to ask the questions they’ve been “Just wondering” about.
Soon to be published research by Te Ara Ahunga Ora Retirement Commission found that 1 in 10 New Zealanders don’t talk to their whānau or friends about money, and those who are in a difficult financial situation are even less likely to talk about it.
People can visit sorted.org.nz and ask any questions that they don’t feel comfortable asking people they know, or don’t feel like they know the right person to ask for advice.
Messages received so far have reflected a strong appetite for financial education amongst Kiwis, who have sent in a vast range of questions and received personalised responses in their inboxes.
“How much does a 14-year-old get paid for a part-time job?”, “I’m 29 years old and I’ve never owned a credit card. Do I need one?” and “How to choose a retirement village” were among the questions asked.
Queries such as “How do I reduce debt fast?” and “It seems everyone is talking about a recession, what can we expect when this happens?” signal the pressure being felt by Kiwis as inflation reaches a 30-year high.
Tom Hartmann, Sorted’s Personal Finance Lead, was pleased to see many reaching out for advice at what is a tough financial time, when long-term thinking may not be a priority.
“For many New Zealanders, it is tough to even think about saving or learning more about your finances, when getting through the next week or month alone is ‘taking up all the air in the room’.
“We were really encouraged to see that people are still asking money questions that matter to them. Financial wellbeing stems from money skills and long-term thinking, so if we can encourage them to start talking about it and getting the tools and knowledge to plan ahead, we can help New Zealanders feel more empowered and better prepared for the ups and downs of the future.”
An array of helpful tools and guides on budgeting, saving, investing and more are available on the Sorted website, as well as the answers to over 100 common money questions in te reo Māori and English.
Sorted Money Week runs this year from Monday 8 August until Sunday 14 August. Webinars, community initiatives and competitions have been taking place across the country, giving people an opportunity to get involved and learn more about money.
Have a question you’ve been dying to ask? Head to sorted.org.nz this week to get your money answers.
Notes to editors:
Sorted is a free service run by Te Ara Ahunga Ora Retirement Commission, the government-funded, independent agency dedicated to helping New Zealanders get ahead financially.
As New Zealand’s trusted personal finance site, Sorted has the information needed to tackle debt, plan and budget, save and invest, dial up your KiwiSaver, plan for retirement, protect what's important, and manage a mortgage. Providing tools, guides and blogs, Sorted can help no matter where you are at when it comes to money.
About Te Ara Ahunga Ora Retirement Commission
Te Ara Ahunga Ora Retirement Commission, the autonomous Crown entity and office of the Retirement Commissioner, aims to help New Zealanders to retire with confidence. This means New Zealanders feel secure they’ll have resources to live and the know-how to make ends meet.
We focus on three areas: retirement income policies, retirement villages and financial capability.
Te Ara Ahunga Ora runs Sorted, Sorted at Work, Sorted in Communities and Te whai hua – kia ora, Sorted in Schools.
About Sorted Money Week
The 10th edition of Sorted Money Week runs from 8–14 August. This year's theme “Just wondering” means Kiwis can ask the questions they have been thinking about and provides a safe place to reach out and find answers they can trust.
In addition to the webinars and live events, you can jump onto sorted.org.nz to submit questions, read blogs and get the answers to over 100 money questions in te reo Māori and English. A wide range of financial subjects are covered, including investing and saving, budgeting, debt and loans, KiwiSaver, retirement planning and the psychology of money. Wondering about money? We’ve got you sorted – Money Week » Sorted
For more information, or to arrange any interviews contact:
Georgette Dawbin - Communications Specialist,
Te Ara Ahunga Ora Retirement Commission
Mob: +64 9-954 2974