GOLDEN RULES

Central Leader - - OUT & ABOUT -

Debt is only for im­por­tant things Con­sumer debt will keep you poor Do­ing with­out a flash TV won’t kill you

My thoughts on debt are these.

Take on as lit­tle con­sumer debt as hu­manly pos­si­ble. Debt is only for im­por­tant stuff. That’s buy­ing a home, start­ing a business and buy­ing a mod­est car.

Things like hol­i­days and TVs should be bought out of sav­ings. If you can’t save for them, do with­out.

When you have debt, you should be work­ing hard to kill it as fast as pos­si­ble, and make sure you have ad­e­quate in­surance.

When you are in debt, you have given other peo­ple power over you and your loved ones.

If this law passes, you’ll be giv­ing them power over your Ki­wiSaver ac­count too.

PHOTO: MILLA74/123RF

The planned law would give banks the ham­mer to crack open the Ki­wiSaver ac­counts of debtors.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.