Emma and her husband Doug Cooper paid off their mortgage in 12 years. Photo / NZME
Emma and her husband Doug Cooper paid off their mortgage in 12 years. Photo / NZME
The Bay of Plenty Times is taking a look back at some of the memorable the stories of 2021 that featured in Money. Here's what made headlines from May to August.
May 9:
More Bay women were choosing a career in construction it was reported
The number of female apprenticeshad doubled at BCITO, one of the country's largest construction trade apprenticeship providers.
Toi Ohomai Institute of Technology associate dean of carpentry, construction, engineering and electrical Suzanne Brotherton said females aged 18 to in their 50s were enrolled on courses.
Credit card debt topped $6.2 billion nationally and local budget advisers say spending has started to spike again - with the cost-of-living increases in the wake of Covid.
Tom Hartman, lead for the Commission for Financial Capability Personal Finance, said it was all pleasure in the short term, but later on, obviously, those balances get high and it starts to get painful.
An ANZ spokesman said it also encouraged anyone who was experiencing difficulty in meeting their payments to contact them as early as possible.
June 27:
Gordy Lockhart from The Kollective. Photo / NZME
Co-working and hot-desking were making a strong comeback post Covid-19.
Tauranga Chamber of Commerce chief executive Matt Cowley said many micro-business owners had adopted a hybrid model where they booked a hot-desk in shared office spaces for half the week.
Gordy Lockhart, general manager of The Kollective - a co-working space for not-for-profit organisations - said he had seen a "sizeable increase" in new-member interest.
"We're full at the moment in terms of our commercial members."
Emma and Doug Cooper paid off their mortgage in 12 years. The Rotorua couple said that moment of euphoria happened in 2018.
Emma and her husband Doug Cooper are enjoying their mortgage-free lifestyle. Photo / NZME
In 2006, they paid less than $175,000 for the home, which they still live in. Today, it is valued up to $600,000.
Emma said she was taught the difference between wants and needs as a youngster. Her advice to others was to make lump-sum payments on the mortgage, always paying more - even when it was only $10 a week.
August 7:
The rise of business mentorship. Maree Tassell (right) used to be a mentee now a mentor to Lisa Farrell. Photo / NZME
Business mentors were in strong demand. About188 more mentors in the Bay had been helping people since Covid.
Rotorua businesswoman Maree Tassell said mentors had saved her life.
"Having an experienced mentor give me that feedback gave me the confidence I needed to need higher-level support."
And now she has put her hand up. "I'm happy to help, it's my way of paying it forward."
August 28
Some Kiwis are heading into retirement poor, burdened with debt, living in rentals, or still paying off mortgages.
Figures from the 2021 NZ Financial Capability survey showed in the 55 to 64 age bracket 20.8 per cent of people were at risk, while 13.1 per cent were facing difficulties, 36.7 per cent were doing okay, while only 29.4 per cent were secure.
Housing researcher Kay Saville-Smith said homeownership rates were falling among older Kiwis.
Craigs Investment Partners head of private wealth research Mark Lister said New Zealand was lucky to have superannuation that wasn't means-tested. He said time was power when investing and saving for your retirement.
