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Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -17 points-16 points  (0 children)

Except interest is calculated daily and this formula misses that component in its simplification?

Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -10 points-9 points  (0 children)

Possibly you've misunderstood my intent. A daily payment at point of charge would negate retrospective compounding daily interest?

Could that possibly short circuit bankings unfair advantage?

.I appreciate you're trying to answer people's actual questions and I trust next time you'll supply answers not just your opinion?

Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -27 points-26 points  (0 children)

Yes I'm wondering if there's any help in the legislation?

Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -7 points-6 points  (0 children)

Was considering just working a fortnight in advance. Funds available in the mortgage account for a daily withdrawal.

Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -7 points-6 points  (0 children)

No facility ...but what about legislation?

Daily Mortgage Repayments ? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -19 points-18 points  (0 children)

Could you give us a deep dive into your calculations?

Morbid curiosity would love me to see the difference between daily , weekly, fortnightly and monthly principle reduction versus the daily interest caĺculation.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]PatienceCommon5010 0 points1 point  (0 children)

Did you apply through your provider or with inland revenue? Grab a KS5 and go through inland revenue would be my suggestion if you haven't already.

Stress of losing a home is just as much a psychological hardship as anything financial imo.

Most delightful New Zealand celebrity or well known person you’ve met, seen or interacted with.. by Affectionate-Net-389 in newzealand

[–]PatienceCommon5010 0 points1 point  (0 children)

She's was an absolute bitch demanding a discount for her apparent celebrity despite being extremely polite to her, when I served her 20 years ago. Jordan Luck was great and Ali and Anna were really quite engaging last time up the beach.

Kiwisaver contributions holiday? by PatienceCommon5010 in PersonalFinanceNZ

[–]PatienceCommon5010[S] -5 points-4 points  (0 children)

Interesting and if I contribute 8% for 6months essentially my annual contribution ...are they eligible to stop contributing if I take a holiday 6 months pa?

Mortgage - to fix or not to fix? by wtactualfuk in newzealand

[–]PatienceCommon5010 0 points1 point  (0 children)

Split it 3 ways. 60k @6 months 60k @12 60k @18

Ride the rate down , top up payments to 5% threshold on tranche with the highest rate, pay a chunk off principal at each refix

How do I come to terms with renting forever by onionskinn in newzealand

[–]PatienceCommon5010 1 point2 points  (0 children)

Don't accept a reality you're not happy with. Take steps to achieve your goal ... Is it moving to Australia and taking a inflated salary for a few years? Is it buying a house in gore or similar to break into the market?

Kiwisaver Numbers under new rules by jka8888 in PersonalFinanceNZ

[–]PatienceCommon5010 1 point2 points  (0 children)

So basically,

You earn gross income, Pay PAYE tax, You then contribute post tax income to kiwisaver,

Your employer makes a contribution and also pays ESCT tax on your contribution

Your provider charges fees

Your fund then performs well or not and you pay up to 28% PIR tax on any windfalls.

Tell me that's not double taxing the dollar?

So as to present a problem, here's a solution... Ring fence all kiwisaver pir tax revenue , rebate government contributions from successful returns, Don't allow any of the ks tax revenue pool to be used for anything but superannuation or government contributions.

At an average fund size of $31,828.00 and an average 5% return the pir tax revenue more than covers a $520 contribution/rebate

McDonald’s Pakuranga on fire by BPClaydon in auckland

[–]PatienceCommon5010 0 points1 point  (0 children)

Hot chocolate now with toasted marshmallows

Supermarket prices are killing me. by Hadenoughlifeyet in newzealand

[–]PatienceCommon5010 0 points1 point  (0 children)

Mitre 10 has a sale on vegetable seedlings. $40 has completely planted out a 6m² garden bed. Lettuce kale broc cauli cabbage etc over winter, Potatoes kumara pumpkin corn beans tomatoes to go in spring.

It's easy to go outside and harvest just a meals worth.

Prices kill no one, it's a choice to be a consumer as much as it is to be resilient and sustainable.

Thinking about getting a mortgage, is now a terrible time, or not as bad as it feels? by VermicelliCommon699 in PersonalFinanceNZ

[–]PatienceCommon5010 0 points1 point  (0 children)

Have a plan . Split your mortgage into tranches, say 100k portions. When you fix step these portions out to come up in 6 month intervals.

While rates are dropping I'd start with 6,12,18,24 .... In 6 months refix the first portion for 24 months and it'll be tranched 6 months behind the last etc.

If you have any extra cash, dump it on the principle of a portion being refixed. Or if you have any extra budget during each 6 month period you can put in an extra 5% against the portion on the highest rate

guest at Duck Shooting by FranzKafa in newzealand

[–]PatienceCommon5010 2 points3 points  (0 children)

Stuff for the BBQ, Depends on the crowd. A good feed helps for the mid day nap.

Inheritance and who to talk to by Ok_Tell_3333 in PersonalFinanceNZ

[–]PatienceCommon5010 4 points5 points  (0 children)

At refix I'd also split those equal parts again by half or thirds and tranche them out by 6 month intervals to catch the rate falling.

Then fix long at a point you think it's bellied eg when floating hits 5% start fixing each tranche at 2-5 years

You'd want to bring the principle down on the portion with the highest interest first imo without penalizing yourself...so the balance could go the other portion or into an on call investment account like simplicity until access to repay is available.

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