- Write a plan: It's all well and good to say this will be the year you start saving but, if you haven't got a plan, it's unlikely to work. Write down (realistically) what you spend each week, what you might need for unforeseen expenses and what you can afford
Jeremy Tauri: Your plan of action
By Jeremy Tauri
NZME. regionals·
2 mins to read
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Jeremy Tauri.
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- Set up automatic payments for your regular bills so you do not miss the payment dates and risk penalties. This is especially helpful for bills such as power, where you qualify for a discount when you pay on time.
- Start a plan to save for next Christmas. Some of the credit unions offer fee-free accounts with favourable interest rates that lock in your savings until Christmas. This is a good way to make sure you have money in the bank and don't have to turn to the cards next year.
- Close credit cards you don't need. They charge annual fees and, while people think they need one "just in case", you'd be better off saving the money.
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Jeremy Tauri is an associate at Plus Chartered Accountants.