Getting Serious

• Budgeting
  • Introduction To Budgeting
  • Getting Serious
• Insurance
• Debt Reduction
• Savings
• Before You Invest
• Investments
• Retirement Planning
• Estate Planning

Calculators

• KiwiSaver Account Calculator for Employees
• Residential Property Investment Calculator

Useful Resources

• KiwiSaver Tools and Information
• Follow the Secrets to Wealth
• Get the newsletter direct to your inbox each month
• Independent life insurance information

• Introduction to the tempest
• Have the tempest work for you

Introduction to the tempest

The "tempest" is a simple, but very powerful concept. Essentially, it means reducing all expenses by 10%. Obviously, this is much simpler in concept than in execution. For example, we all know that it's just not possible to ring up the landlord and ask for a 10% reduction in the weekly rent bill. But don't despair: there are still ways of making the "tempest" work in practice.

Budgets generally have the potential to be strongly managed. the Shape of Money recommends implementing the "tempest" approach. This approach seeks to review each item in the budget and drive every last cent out of it.

Some you won't be able to change in the short term, such as rent, but on others you may be able to save more than 10% by careful planning and focus.