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  1. #1811
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    Last edited by Joshuatree; 11-10-2018 at 08:39 PM.

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  3. #1813
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    Absolutely we do

    "The budget is well on course to carry the country through the next shock, whatever form it takes and whenever it may be, and the Government needs to keep it that way."

    Crown debt is now below 20% first time since the GFC.

    From The Herald
    article.cfm

  4. #1814
    Legend peat's Avatar
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    Quote Originally Posted by Joshuatree View Post
    More detail on the loansharks controls here.

    Government cracks down on predatory lenders with fines up to $600k The new law takes particular aim at loan sharks and truck shops.


    "The introduction of an interest and fees cap on high-cost loans will prevent people from accumulating large debt from a single small loan. For example, if you borrow $500 you will never have to pay back more than $1,000 in total, including all fees and interest.
    Will this apply to Westpac and ANZ as well ?
    For clarity, nothing I say is advice....

  5. #1815
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    Quote Originally Posted by Joshuatree View Post
    Absolutely we do

    "The budget is well on course to carry the country through the next shock, whatever form it takes and whenever it may be, and the Government needs to keep it that way."

    Crown debt is now below 20% first time since the GFC.

    From The Herald
    article.cfm
    Well done Bill and Stephen. Those tax cuts were certainly in order.

  6. #1816
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    Quote Originally Posted by Joshuatree View Post
    More detail on the loansharks controls here.

    Government cracks down on predatory lenders with fines up to $600k The new law takes particular aim at loan sharks and truck shops.


    "The introduction of an interest and fees cap on high-cost loans will prevent people from accumulating large debt from a single small loan. For example, if you borrow $500 you will never have to pay back more than $1,000 in total, including all fees and interest.
    Wow that is exciting news. So I borrow $200k for my mortgage and will never have to pay back more than $400k in total. Great stuff NZ First, Labour and Greens. Great savings to be made purchasing houses especially when interest rates get back to the 7-8% levels.

  7. #1817
    Legend minimoke's Avatar
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    You do know you cant fix stupid? No matter what laws are in place. Did you see this bit "He told of three mums seeking the marae's help, who were all aged in their 30s, had 14 children between them and 30 debts totalling about $144,000" We don't need anti-loan shark legislation. we need compulsory contraception.

    I know it has tow words and one of them has three syllables but we really need to teach and hammer home the power of and risk with "Compounding Interest" Financial literacy might be a whole lot more use as an extra subject in the curriculum rather than te reo.

  8. #1818
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    Quote Originally Posted by minimoke View Post
    .

    [/COLOR][/FONT]I know it has tow words and one of them has three syllables but we really need to teach and hammer home the power of and risk with "Compounding Interest" Financial literacy might be a whole lot more use as an extra subject in the curriculum rather than te reo.
    I am totally on board there. I have a friend who has a degree and so does his wife from University. They are as financially illiterate as can be. He earns over 100k per annum but they are living in poverty with debts coming out of their ar se holes. I have tried to educate them and have helped consolidate their loans and it is helping but sometimes you cannot help people from themselves. They then go and borrow money for overseas travel. They had a loan from a bank which they called a low interest loan. The rate .... 15.9%. Really some people are just thick. But if they had had some financial literacy taught in schools it may have helped them. They are intelligent enough in the normal sense to be able to understand things. Just not sure if they are emotionally strong enough to say no to baubles and trinkets.

  9. #1819
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  10. #1820
    Legend minimoke's Avatar
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    Quote Originally Posted by Joshuatree View Post
    More of you cant fix stupid. Women with a half functioning brain know not to drink when pregnant. The others wont be able to read the label. When you are in your 30's and you've got 5 kids to your name already and no idea about debt do you seriously think an alcohol warning label is going to make a difference?

    All it means is that sensible people have to be reminded of the stupidity of others every time they pick up a bottle.

    Edit: Im waiting for a label that goes on soft drink that say "You are a very bad parent if you feed this sh1t to your kids"
    Last edited by minimoke; 12-10-2018 at 11:25 AM.

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