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Household debts climb despite Covid-era credit card 'conservativism'


Joseph Johnson/STUFF
Household debt has risen under Covid, but it’s not because of reckless consumer spending, but people taking out ever larger loans to buy homes.
New Zealanders focused on paying down their consumer debt when Covid-19 first hit the country, but an increase in the size of our mortgages means we are still more indebted than ever.
The Reserve Bank national household balance sheet shows that between December 2019 and December 2020, households paid $2 billion​ off their collective consumer debt, such as credit cards. The total fell from just under $17b​ to just under $15b​.
But this isn’t slam-dunk evidence of a new national financial conservatism inspired by tens of thousands of households having had to seek home loan repayment “holidays” from banks during the national lockdown in April and May last year. ....

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Diana Clement: The pitfalls of buying your first car


Diana Clement: The pitfalls of buying your first car
3 Apr, 2021 05:00 PM
4 minutes to read
Long before you go car shopping you need to work out both what you need and what you can afford to buy. Photo / 123RF
Long before you go car shopping you need to work out both what you need and what you can afford to buy. Photo / 123RF
Your Money and careers writer for the NZ [email protected]
Buying your very first car is scary, exciting, and a step into adulthood. Even owning a beaten-up old wreck gives young people freedom and a sense of achievement. It comes with a massive financial learning ....

New Zealand , Lyn Mcmorran , Financial Services Federation New Zealand , Consumer Finance Act , Responsible Lending , Beaten Up , புதியது ஜீலாந்து , லின் மக்மோரிரான் , நிதி சேவைகள் கூட்டமைப்பு புதியது ஜீலாந்து , நுகர்வோர் நிதி நாடகம் , பொறுப்பு கடன் , பயமாக இருக்கிறது , தாக்கப்பட்டது மேலே ,

Business Scoop » New Zealand SME's Better Off As Non-bank Lenders Join The Business Finance Guarantee Scheme


Press Release – Financial Services Federation
The Financial Services Federation is pleased that New Zealands small and medium businesses will be better off with the extension of the Business Finance Guarantee Scheme (BFGS) to non-bank lenders. The Government-backed loan scheme is designed …
The Financial Services Federation is pleased that New Zealand’s small and medium businesses will be better off with the extension of the Business Finance Guarantee Scheme (BFGS) to non-bank lenders.
The Government-backed loan scheme is designed to help small and medium enterprises (SMEs) access credit for cashflow, capital assets, and in their COVID-19 recovery efforts.
Despite the high calibre of specialist, SME-lending finance companies in New Zealand, until now, the scheme has only been available to the banks. ....

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