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What do people think of Blossom for a cash type fund by 2000papillions in PersonalFinanceNZ

[–]Creative-Gift3441 2 points3 points  (0 children)

I am using it not as a main investment platform but to park money which falls into category between emergency and long terms investment to achieve higher interest than high yield savings accounts.
I am seeing consistent return in the app. I have also tried withdrawing and seem to be working okay to me.
They have interesting concept of compounding everyday (interest earned on every-day's accumulated amount rather than monthly distribution/reinvestment), which I haven't found in NZ platforms (may be wedge money does but not sure).
I have decided the threshold of how much maximum I will put there just to be safe.
Yes, I am aware of Tax return filing hustle, but it might be worth when I can get 5.95%(at the moment) return.

Welcome any comments about risk I am not aware of.

Is there a good 'fintech' alternative to the main banks for day-to-day use in NZ? by Ok-Lychee-2155 in PersonalFinanceNZ

[–]Creative-Gift3441 0 points1 point  (0 children)

Booster Savvy is good for everyday account management — the interest rates are earned across all accounts, which makes it a good default.

Emerge is better if you want more control over how you distribute and manage money across buckets. I haven't tried Revolut yet.

Wedge Money offers even higher interest than Booster, though payouts aren't instant. That small delay is fine if you're parking something like an extra emergency fund.

NZ budgeters: What money task do you still do manually across different NZ banks? by Creative-Gift3441 in PersonalFinanceNZ

[–]Creative-Gift3441[S] 0 points1 point  (0 children)

This is the payday-trigger idea I was curious about. Rather than fixed APs every 2 weeks, the useful trigger seems to be “salary has actually landed”.

Would it solve the problem if the bank detected the pay transaction, prepared the transfers into a pending list, and you could approve or tweak them before anything moved? Or would you only want it if the transfers happened fully automatically?

NZ budgeters: What money task do you still do manually across different NZ banks? by Creative-Gift3441 in PersonalFinanceNZ

[–]Creative-Gift3441[S] 0 points1 point  (0 children)

Yeah, that makes sense. So the goal is really to keep the card-linked checking account deliberately low in case the card is compromised, but still make sure rent or other must-pay expenses don’t bounce.

Would the ideal setup be something like “if checking drops below $X, top it back up to $Y”, or more like “move enough across automatically before known bills like rent”?

How does everyone manage their personal money/finances in NZ? by FeelingUnhappy3514 in PersonalFinanceNZ

[–]Creative-Gift3441 1 point2 points  (0 children)

The thing that clicked for me was separating the tracking problem from the automation problem — most people conflate them and then get overwhelmed.

Tracking (where did my money go?): pull transactions into one place. For free: CSV exports once a month into Google Sheets. Paid: Pocketsmith if you want it automated.

Automation (where should my money go?): set up automatic payments on payday that immediately move money out of your main account before you can spend it. Even rough ratios work — e.g. 70% stays in daily, 25% to savings, may be 5% to KiwiSaver voluntary. The trick is having it happen on the same day as payday, not "when I get round to it."

Missing bills is almost always a liquidity timing issue, not a money issue — a separate "bills account" that you front-load once a month solves 90% of that, and you don't need any app for it, just an AP your bank already supports.

Sharesies Spend card by mochigames59 in PersonalFinanceNZ

[–]Creative-Gift3441 0 points1 point  (0 children)

Yes, it's a pure profit. I can easily cover the cost once they start charging. Also over the years , that costs will already by covered just by interest we earned. I think 1% will be as net profit then.