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I am one of those shoppers that runs into the supermarket for one item and walks out with a trolley full of items I do not need, and quite often, forgetting the item I went in for!

Supermarkets are experts in marketing strategies.  Their isles are carefully designed to entice us, wear down our willpower, and trick us into thinking we are buying a bargain.

So, when online grocery shopping was introduced, I was an instant convert, apart from being a bit of a gadget girl, I also found it less stressful and much easier to control my spending.

Below are some of the pros and cons that I have found as an online grocery shopper:

Benefits:

Budget:  I can keep an eye on my shopping trolley total and if it is over my budget, I can remove unnecessary items.

Online shopping list:  it is so easy to add an item to my trolley as soon as I run out or simply check the pantry to see what I need.

Convenience:  I can shop anywhere I have a device.

Freebies: Many times, I have collected my groceries to find a freebie has been added, last week it was a 2 litre of milk.

Upgrades:  It is not unusual to find meat and produce weigh more than what I have paid for.

Downsides:

Shopping list:  It does take time to set this up but once all your groceries are in your shopping list(s) you are ready to go.

Out of stock:  Items I need are not always in stock at my chosen store.

Incomplete order at delivery or collection: Sometimes my order cannot be completed as the items were unavailable or could not be substituted.

Specials at other supermarkets:  an item your buying online could be cheaper or on special at other supermarkets

Cost of delivery:  It can be a bit expensive to have your groceries delivered.  However, I am a ‘Click & Collect’ shopper and as my groceries are always over $50 this is a free service.

In my opinion, there is much to like about online grocery shopping, and you have a lot of control at your fingertips.  Hopefully, it will help you stick to your grocery budget.

This article is for general information only and should not be taken as advise.  Please see our experts page to contact your adviser.

A disclosure statement is available on request and is free of charge.

If you would like to increase your current insurance cover without the paperwork or the underwriting and have found this impossible due to health issues – AMP may have a solution for you…

AMP annually offer you the option to increase your policy in line with Consumer Price Index (CPI). They also allow you to increase your cover up to $5,000, without health evidence or the paperwork for your life, trauma, disablement, and income protection*.

Who would benefit from this offer?

• If you have had any increases to your policy declined because of health issues, this option gives you the opportunity to increase your cover by up to $5,000 every year or
• If you dislike the paperwork but would like a bit more cover, then this could be the answer for you.

We have found this option to be very popular with our clients; it is an easy way to increase your covers, without all the hassle of paperwork.

Other insurance companies may offer this option as a special event, your adviser can discuss this with you.

*Conditions may apply. If you would like to take up this offer, or wish to discuss your plan further, please give us a call on 03 360 2001 or visit our Contact us page.

If you are a KiwiSaver member and you haven’t contributed enough to receive your maximum Government Contribution, you will need to top-up before 30 June 2020.

Each year, eligible KiwiSaver members can receive a Government Contribution to their KiwiSaver account up to a maximum payment of $521.43. The Government contributes 50 cents for every dollar, on the first $1,042.86 that you contribute to your account between 1 July and 30 June.

Please note, the Government Contribution only applies to your own contributions, not your employer’s contributions, and are calculated based on the date your contributions are received by Inland Revenue. The best place to check how much you have contributed is via ‘MyIR login’ at www.kiwisaver.govt.nz.

To ensure your payment is processed in time, we encourage you to do this well ahead of 30 June 2020.

To be eligible, you must be 18 years or older, not yet eligible for retirement withdrawals, and be mainly living in New Zealand. If you only meet these requirements for part of the year, or joined KiwiSaver part way through the year, you will receive a pro-rated amount of the Government Contribution.

If you would like to know more, join or discuss your KiwiSaver, please visit our website for your adviser’s contact details or drop us a line.

Contact us

Our Office Manager, Michelle, has a small family of three and one of their daily activities involves cooking a meal from around the world. Each night they take turns pulling a country’s name out of a hat and cook a meal from that cuisine the following night… well, an interpretation at least. So far, they have enjoyed: French, Italian, Spanish, Irish, Vietnamese, Israeli, Caribbean, Moroccan, Greek, and Thai. Yum!

Ian and Janet are making most of their bubble in Otematata. Leaving Christchurch, the week before lockdown they have been living a quiet life where going to get the press and collecting the mail are the highlights of their days.

Susanne, in the Adviser Support team, also kept busy during the lockdown period and celebrated Easter making Swiss traditional Sunday bread, creating bunny shaped creations, which were virtually shared between her extended family around Australia & Switzerland. Also, a first: celebrating a lockdown birthday, having fun in the kitchen… keep calm & bake on.

Our bright and cheerful receptionist, Lauren, is in lockdown with these two adorable miniature ponies.

The Wescombe Family Bootcamp routine includes 200 push-ups and 200 sit-ups. They will be one fit family at the end of the lockdown period.

The Sequeiras live opposite the Red Zone (Horsehoe Lake) and enjoy walking and admiring the beauty of autumn. Being a family of six, we’ve cooked, cleaned, gardened, prayed and shared far more especially with no distraction and nowhere to go to.

March saw the Coronavirus have a more tangible effect at home, with the move to lockdown in New Zealand taking it from a global event to something with a very clear impact on our day-to-day lives.  Meanwhile, share markets around the world continue to be volatile, with the US S&P 500 index staging a dramatic partial 18% recovery in three days towards the end of the month.

While share market volatility can be unnerving, Fund manager’s disciplined approach, combined with strategic diversification and active management, have all worked well to ease some of the downside risks. It is this combination of strategic planning and good risk management that goes in ahead of time, and which isn’t always evident in the ‘good times’, but whose impact becomes clear when it’s most needed.

The benefit of built-in ‘shock absorbers’

In today’s world where there’s more information available and more quickly than ever before, it can be easy to read about the latest moves in share markets and assume they directly translate to your investment portfolio. However, there are some key strategies that mean this often isn’t the case. These are the ‘shock absorbers’ that are often built into portfolios to help them deliver robust outcomes over time. The key examples include:

• Diversification across different asset classes – particularly holding some high-quality fixed interest investments. This means that over the first three months of 2020, investors in a Balanced portfolio have benefited from gains of about 1% on NZ and Global Fixed Interest investments, which have helped offset some of the weakness in share markets.
• Strategic Currency management. Being a small, open economy, our New Zealand Dollar tends to fall in value when markets are ‘stressed’, and this year has been no different. The NZ Dollar has fallen 13% against the US Dollar since the start of the year, helping support the value of overseas shares in NZ Dollar terms.

Governments and central banks ‘all in’

History consistently shows that investment markets ultimately recover from shocks – and often start this recovery process while the news headlines remain bleak. While the short term challenges are clear, it’s also clear that policymakers and central banks have ‘taken the gloves off‘ in providing liquidity and short-term support measures that seem to increase by the day. These measures are firmly aimed at helping to ease the burden and see businesses and economies through to the other side – acknowledging that some business casualties are inevitable along the way. From here what matters for portfolios is future return prospects, not the last few months. We expect our fund managers to focus on quality businesses and fixed interest investments putting client portfolios in good stead to weather this period, and ultimately will also show more areas of opportunity as the ‘light at the end of the tunnel’ inevitably becomes clear.

Amidst the wall-to-wall Coronavirus news coverage, the exchange rate between the New Zealand and Australian currencies quietly rose to almost $1. This is a good opportunity to lock in an attractive exchange rate for Australian share investments, as it is unlikely to see this NZD level as sustainable long term.

This information was provided by Booster.

We know this is a very troubling time for all. We wanted to reach out and let you know we are still operating as usual from our home offices, so please contact us with any queries you have or services you require and we will endeavour to help you as best as we can.

We can still process your claims, review your covers and get new insurance policies issued. The only difference is we will be working from a phone/email and video conferencing environment. The insurers have let us know they are also operating as normal as possible at this time. If you wish to add or remove covers, we have the ability to do so. As we mentioned in our previous correspondence, most insurers do not have an exclusion for pandemics, so a claim relating to Covid-19 would be considered just like any other if it met the criteria.

We know times may get tough when it comes to paying for things such as insurance. If this is the case for you, please contact us. We will have a chat to your insurer and see what the best option is for you. We want you to know we are all in this together, and it’s important we stay united as one during this time.

If you need to talk to someone, we are always here. Stay safe and keep well.

For all our contact details, please visit our website arkfg.co.nz or our facebook page. Our office phone will be available Monday to Friday 9am to 4pm on 033602001.

1. Earn more than you spend
2. Have an emergency fund
3. Identify your financial goals then make a plan of how and when you will achieve them
4. Identify your strengths and weaknesses in your financial behaviour, i.e.: spender/saver
5. If finances are not your thing, find help or education

A key to success in life is having control of your finances. If you achieve this, you are likely to feel financially healthier, reduce stress and be on your way to having a wealthier future.

Earn more than you spend or spend less than you earn. It seems obvious either way! Last year on average, New Zealanders spent $1.05 for every dollar they earned. Thus, many Kiwis are going backwards, so how can we become more financially resilient?
It’s time to get back to basic principles behind wealth: Planning well, living below your means, saving a small part of your income, investing wisely and protecting your wealth.
Planning well starts with a budget – whether you use the envelope system or a phone app, a budget is the most important tool you can use to spend less and save more. Saving a small part of your income for your financial future, even if it is only KiwiSaver. Investing this money wisely is where a wealthier future begins.

Having an Emergency Fund: A reserve of money to fall back on when difficulties arise and, financially, times are tough. A good amount to set aside is what you would currently spend to replace your car if needed.
The benefits to building an emergency fund are limitless. Scott Pape (The Barefoot Investor) calls this your ‘Mojo’ fund, it is a good description, not only are the benefits tangible but mentally your well-being is set to benefit greatly. Anxiety that often brews in time of financial difficulties will be significantly reduced.

For further help or advice on financial planning, please feel free to contact your adviser.

As my daughter went through her childhood, I unflinchingly exposed her to the power of spending but kept other important aspects like earning and saving unknowingly hidden away. This created an unrealistic impression that my flashy silver (credit) card magically paid for all her heart desired.

It is now time to teach her some life lessons on money…

There are many approaches a parent can take, some feel that leading a disciplined and frugal life is the right way to teach them the value of money. Other parents reward with cash or treats for good behaviour or teach them the concepts like earning and saving.

Experts say that there is no right or wrong way of teaching the value of money and if parents keep relating everything to money that the message will travel to the child.

Teaching children about money can start as early as six or seven years old, even if it is just a piggy bank and they are encouraged to save for something they want.

This can then move on to opening a bank account and eftpos card at age 13 (or older) and allowing them to handle their own money and track their expenses.

At around 16, as they grow into young adults, encourage them to look for a part-time job. With the money they earn, teach them financial management skills such as budgeting, investing, inflation and the power of compound interest. Talk to them about KiwiSaver and the importance of saving for the future.

Most financial institutions claim that our young adults only believe in spending and are not interested in saving. They say young adults today are influenced by social media and advertising, that focuses on living the good life and instant gratification. It is for this reason that financial literacy needs to start early on in life; the earlier you start the sooner they will have good money habits.

If you are dissatisfied in any way with the Ark Financial Group service, we want to know about it. We want to get it right for you. We have a formal internal complaint handling process and will try to reach a satisfactory resolution with you as soon as possible. Please contact 03 360 2001 and you can make your complaint verbally, by email admin@arkfg.co.nz or letter to PO Box 20-335 Bishopdale 8543.

We will acknowledge your complaint within 2 working days and try to resolve your complaint within 10 working days. We may need to ask you for further information or agree on an extension if the issue is complex or there are issues outside our control.

If we cannot agree on a resolution you can contact our office for the contact details of the independent external dispute resolution scheme for your adviser.  They will investigate your complaint and work to facilitate an agreed resolution.  If this is not possible the Scheme may make a formal decision which is binding on Ark Financial Group, but not unless you accept the decision. The process is free to you and the Scheme will assist you to lodge your complaint.

Insurance and Financial Services Ombudsman (IFSO)

Financial Disputes Resolution Service (FDRS)