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June 11, 2019

Hey Kiwis, Did You Get Your Free Money?


In New Zealand, we have a retirement saving scheme that gives us $521 each year, if we save at least $1,043 during the year.  Last year, OVER 1 MILLION people eligible for this payment didn't receive it, because they didn't meet that criteria. 👆🏽 That's $521,000,000 that the government DID NOT GIVE US, KIWIS. 

Can I just type that again. $521,000,000. That’s FIVE HUNDRED AND TWENTY MILLION DOLLARS. WHOA. So there are some things I feel I HAVEV to say right now.

But for starters – and before you panic – if you’re IN Kiwisaver already and you earn over $38,000 a year and contribute the minimum 3% – you’re probably cool.  If you earn LESS than that but have contributed $20 a week, you’re probably cool. BUT you should check ok? (We’ll get to how soon).


❓For those of you feeling uncertain that you’ve made the required contributions (like me – I quit my job a year ago and have been earning income from a new biz). Listen up.

✊ Or if you've ever shaken your fist at how the government spends it's money (like last week, with the teacher's strike), AND YET you still don't claim this benefit… listen up.

🤑 And just saying, it's the HIGHEST return you’ll get on ANY investment you make (that I know of in NZ) – at 50% GUARANTEED RETURN.  You put $1,043 in, you get $521 back. For free! No risk! Whaaaat!

👉 And OMG did you know that EVERY New Zealander aged between 18 and 65 is eligible for this free money? You just need to have been in a KiwiSaver scheme for 12 months; live in NZ; and have paid at least $1,043 into your KiwiSaver account between July 1st, 2018, and June 30th, 2019 (your employer contributions don't count, it's what you paid that matters).

IF you haven’t claimed this free money, I don’t judge ya – I’ve only started recently myself!  I had some pretty poor beliefs about money, didn’t really understand Kiwisaver, and prioritised spending and debt over saving for my future For. So. Long.  But now I’m sweet I get to preach, right? 🙌

SO PLEASE, allow me to implore you.  If you meet the above criteria, go log in to ird.govt.nz and check how much you’ve paid between 1 July 2018 and now. Add up your voluntary payments and your deductions from salary/wages, and if the total is less than $1,043, find a way to make that payment pronto!

And before you roll you’re eyes at me and throw up your hands, “HOW THE F do I just magic up $1,043 from my a$$?” 

I hear ya… 

Look, I don’t presume to know your financial situation, and I know myself that it pi$$es me off when people just assume you can pick money off trees.  I know it ain’t that easy.

BUT. I’ve become pretty good myself at making money appear out of nowhere, when I truly believe that every last avenue has been thoroughly gone down.  Ya just gotta get creative sometimes (and I mean creative thinking, not thievery!) 😀 

You may just be surprised at where you can ‘find’ money.

Some random ideas to magic up that moolah:

  • Have a good declutter, and SELL something you no longer use on Trademe or Facebook groups (preferably, semi-valuable, in demand stuff, not t-shirts and old shoes).
  • Follow up on money owed – whether by personal, professional or government 
  • Deposit the money in your piggy bank/whereever you stash your coins
  • Claim back old tenancy or rental bonds
  • Are you (a lot) in credit with any of your utilities? Call up and ask for a refund or to reduce your monthly payments
  • Claim your tax refunds!
  • Spend any unused store credit (to free up cash)
  • Use your frequent flyer / Flybuys points instead of cash
  • Go check your credit card statements for fraud and report it (seriously)
  • Promote your services! Go on!
  • Claim your expenses
  • Check for unclaimed benefits (like, everywhere)
  • Apply for govt rebates. eg. Childcare donations
  • Sell your valuable but unused jewellery/valuables
  • Accept other’s generosity (instead of refusing and paying)

With love,
$521 free money.

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