Home' Advocate Communications : Fiordland Advocate 7 July 2011 Contents HOT TOPIC
Page 6 | 7 July, 2011
Slowly, but surely, the nation is
waking up to the fact that high
interest consumer debt is a bad
idea -- and that it's dumb debt.
Reserve Bank figures show
consumer debt is declining
and recent Nielsen research
shows Kiwis' attitudes towards
debt have changed as well. The
research found 56 percent of New
Zealanders are less inclined to
take on debt since the recession,
and over the next 12 months 26
percent intend to change the way
they manage their debt.
But while our intentions are good
-- sometimes following through is
easier said than done, and we still
have a way to go when it comes to
sorting out our debt.
Each year Kiwis pay around $650
million in interest on their credit
cards. If you're someone who
doesn't pay your credit card off
within the interest-free period,
then part of that $650 million
is your own hard-earned money.
That's money that could otherwise
be going towards your own goals.
To make your credit card work
for you, you need to pay it off in
full each month. Otherwise you'll
be paying unnecessary interest,
which makes it even more difficult
to keep in control of what you owe.
Consider making a promise to
yourself that you will only use your
credit card if you can pay it back
within the interest-free period.
While credit card statements
encourage you to make the
minimum repayment each month,
don't be fooled. Paying just the
minimum will barely dent your
total bill, and interest rapidly adds
up on the remaining balance.
At the recent Financial Literacy
Summit in Wellington, Retirement
Commissioner Diana Crossan
challenged financial institutions to
include information on credit card
statements showing customers
how long it will take them to repay
credit card debt and how much
the total interest bill will be if they
only pay the minimum amount.
Until lenders are more
forthcoming, it's a good idea to
make sure you know how much
your debt is really costing you.
You can use the credit card
calculator on sorted.org.nz to see
how increasing your credit card
repayments will cost you less in
the long run -- and reduce the time
it takes to pay off.
Take charge of your debt. New
Zealanders don't have to pay
$650 million in credit card interest
each year. If we all make a few
changes, we can get that figure
down and all be better off.
Get credit card debt sorted
Manapouri Residents are a bit
upset at the possible demise of
their hall, originally the Manapouri
Hydro Village Hall and one-
time film location for the Gates
of Mordor in the Lord of the
Rings Movie Trilogy (as seen on
youtube). It is also the town library
and has a stage basketball court
and can even be used as a full
size cinema complete with box
I myself even performed on the
stage in 1972 as it was also
the hall for the then Manapouri
District High School.
I think the current maintenance
problems are caused by an
oversight. By not giving its
administration and upkeep to
the tennis court and swimming
pool committee it was left out of
the community's volunteer help
There is also a need for new
usage ideas that a community
events coordinator could help
with. Or maybe with some added
external bunk rooms it could
become an educational or Scouts
facility such as Borland Lodge.
SEND US YOUR CONTRIBUTIONS
Do you have an opinion to air or a photo to
share? The Fiordland Advocate welcomes
your contributions. You may use a nom de
plume providing you supply us with your
name and address (for verification purposes).
PO Box 251
Te Anau 9640
It s falcon time again. This image of a New Zealand falcon in
a kowhai tree was captured by Paul Peychers on the Te Anau
lakefront walkway recently. They are active in this area from early
winter for a few months.
This image of a New Zealand falcon in
Show us this ad and receive a 10% discount
Milford Sound Day Trips
Te Anau Community Fund
Meridian recognises the special contribution local
communities make to our hydro and wind operations,
and to the country s electricity sector.
The Community Fund gives your community a say on what local initiatives
are supported and funded by Meridian. The Fund, managed by a panel of
community members and Meridian staff, is about working together to help
bring about community outcomes of value.
The Meridian Manapouri Te Anau Community Fund is for the communities
of Te Anau, Manapouri, Clifden and Tuatapere, and will provide ,
to help community projects in this area over three years.
TO APPLY FOR FUNDING
The next closing date for Community Fund applications is August, .
For more information on the Community Fund, or for an application form, please
visit www.meridian.co.nz or email firstname.lastname@example.org
You can also call us on .
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