Men and women take different approaches to investing. Photo / Getty Images
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 September to December.
September 18
Calls to shake up the insurance industry were gathering momentum as promises from the Government in 2019 to review the law still hadn't been introduced to Parliament.
Insurance Council of NZ chief executive Tim Grafton said its research showed Kiwis had a disturbing lack of understanding of insurance.
Three of the most commonly misunderstood parts of insurance were the sum insured, excesses and the difference between sudden and gradual damage.
Meanwhile, Consumer NZ head of research Jessica Wilson said the organisation was pushing for better protection in the insurance market.
Consumer NZ wanted changes made, which included making cover clearer, fixing unfair terms, dealing with disclosure, improving price transparency, publishing complaints and cleaning up commissions.
September 25
Workplace absenteeism combined with the labour shortage was creating headaches for employers and "stressed out" and "overworked" staff.
The kiwifruit industry completed its latest harvest despite failing to fill 3600 Bay of Plenty seasonal jobs and grappling with significant absenteeism issues.
Restaurant Association of New Zealand chief executive Marisa Bidois said the industry needed 10,000 more workers nationally over the next five years.
She said absenteeism was something all businesses grappled with.
"There are all kinds of reasons why a staff member may need to take leave, from feeling unwell through to mental health issues or caring for family members. In our experience, hospitality teams are like families in themselves and most employees won't want to let their colleagues down."
But being a team member down did put a lot of pressure on the rest of the crew.
October 16
Workplace tensions arising over whether co-workers were vaccinated could lead to workplace bullying, an employment consultant warned.
Bay of Plenty based director of Pillar Consulting Amanda Barker said some clients had workers refusing to get vaccinated despite their work being deemed high-risk.
While she had not come across workplace bullying associated with mandating vaccinations "it could happen".
Tauranga Chamber of Commerce chief executive Matt Cowley said employers were having to balance health and safety requirements against human rights.
November 27
More women were investing as they broke old-school stereotypes and took control of their financial future.
The co-founder and general manager of Kiwi Wealth's digital investment platform, Hatch, Kristen Lunman said women investors did their research, were more risk-aware and had self-control.
"Women take a cautious approach and want to feel like they are in control whereas men will take a punt."
Co-founder and director of Sharesies Brooke Roberts said women had been left out and underrepresented in the sharemarket but that was changing.
Roberts said women tended to live longer, were more likely to take a career break and earn less, which was why it was important to support more women to feel confident and motivated to invest.
December 11
Homeowners could be in for a ''heck of a shock'' as rising interest rates added tens of thousands of dollars onto the term of mortgages.
A $700,000 loan that had gone from 2.49 per cent to 3.65 per cent over 25 years would incur interest of $367,515 compared to $240,497 - on the lower rate - a jump of $127,018.
Loan payments would climb from $723 a week to $821 on a one-year fixed-term over the same time frames.
Harry van der Merwe, from Hello Mortgage and Insurance Advisers in Rotorua, said the Reserve Bank was trying to slow down property values and banks had increased rates fast.
The company was already accessing mortgages at 5 per cent to ensure clients would be all right.
"It should still be affordable but it has made it a lot harder."
Retirement Commission personal finance lead Tom Hartmann said interest rates had "really ramped up". "You are going to be paying an awful lot more."
Hartmann said preparation was the key and knowing there was flexibility in your budget was important.
"What really makes it hurt, is being taken by surprise. We want people to be resilient no matter what happens."