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Happy Holidays! Enjoy the break with these great reads.


A fresh approach to budgeting.


What can we expect? Key factors to watch.


What's behind our 'number-8 wire'?

Every moment has it's pleasures and its hope. Jane Austen


Season’s greetings to you and your family! It’s hard to believe this ‘unprecedented’ year is finally drawing to a close. Now is time to pause, reflect and take a break – perhaps, while enjoying a bit of sunshine on the beach. Of course, don't forget to take this eMagazine with you on your adventures. In the meantime, make the most of this time with family and friends, take a break and enjoy yourselves. We will be out of the office from the 23 Dec 2020 to the 11 Jan 2021, but are contactable via our cellphones.

Happy Holidays Kathy and the team at Wright Financial

ENJOY THESE GREAT READS... TIME FOR A MONEY MINDSET MAKEOVER? Is your subconscious trying to derail your financial plans? Here's how to get it back on track.

04 DIY AND KIWIS – OUR LASTING LOVE AFFAIR WITH 'DOING IT YOURSELF' Do you consider yourself a DIY warrior? Here are some interesting facts and inspiration to get your creative juices flowing.


PROPERTY MARKET 2021 The property market pulled off a remarkable performance this year. How will 2021 play out? Here are some key factors to watch out for.

and more...




Is your subconscious trying to derail your financial plans? Here’s how to get it back on side. If you think of the word “budget”, how do you feel? Many people have an immediate, negative reaction, imagining frugality, cutting back and denying themselves any luxuries. Those negative thoughts can be a major block on the path to achieving success. How can you feel excited or motivated to stick to something that you expect to be a punishment? Changing your mindset about how you approach budgeting, and your finances in general, could make a significant difference to how the year ahead plays out.

Is your mind playing tricks on you?

Your first challenge is to identify your own mental response to the challenge of budgeting. Can you see how it’s simply a tool to reach wider goals, or are you stuck in the mindset of hardship? Think through your upbringing, your parents’ attitude to money and budgeting and the behaviours of those around you. Are you used to a practical approach to finances, or is money something the people you love are afraid of or uncomfortable with? If you identify a pattern of unhealthy or unhelpful thoughts – whether they’re yours or some that you’ve picked up from other people along the way – you’ll need to work hard to unpick them.

Consciously start to change your thoughts, pulling yourself up on negative ones and finding new ways to approach them. Sometimes this is as simple as moving the language you use. Instead of talking about a budget you “have to” stick to, or money that you “have to” put aside for savings, frame it as something you “get to” do. “I get to draw up a budget to meet my goal of buying a new car” sounds a lot more appealing than “I have to stick to a budget so that I can save $50 a week.” Even referring to it as your “plan” or “map” might be more effective, if you’ve developed a tortured relationship with the b-word. For some people, budgets are uncomfortable because money isn’t just a tool with which to transact. It comes with all sorts of emotional triggers – they don’t want to talk or think too much about money because it’s an uncomfortable thing that they associate with stress, perhaps, or they believe that they “deserve” to splash out as much as possible to meet some unarticulated emotional need. Owning up to these thoughts and challenging them can be a useful exercise in itself. Identify the counterpoint to every assertion your subconscious leaps to as you think about your finances.

Make it happen

If you don’t mind the idea of a budget, but don’t ever quite make it work in practice, you may just need some new tactics. Many people are far too ruthless in what they think they’ll cut to achieve a brand new budget – but forget that they don’t really like an existence where they can’t go out for a cup of coffee every now and then. A budget needs to move with your life and still allow

A budget needs to move with your life and still allow you some of the things you most enjoy. you some of the things you most enjoy, so that you stick with it. The key is not to have all of the luxuries, all the time. Identify the triggers that knock you off course and come up with a strategy ahead of time to avoid them. If you have friends who typically spend more than you want to, let them know what you’re working towards and why, so that they can support rather than derail you.

won’t always stick exactly to your budget. Don’t allow yourself to take these as a sign that it’s just too hard and you need to give up. Expect mistakes, acknowledge them but then get on with it again. Keep bouncing back until working with your budget becomes so familiar that it’s just what you do – and the benefits start to flow automatically.

Develop a game plan to avoid the situations that you know will drain your budget – that might be as simple as hosting people at home more often than you go to the pub to catch up.

Make yourself care

Make sure that you’ve got a good reason for budgeting. Like exercise, many people think of budgeting as something they “should” do, but they don’t really identify why. If you’re only budgeting because you think it’s something that adults are obliged to do, your chances of sticking to it aren’t great. Have a reason and a goal clearly in your mind, then give yourself regular reminders of those. If it’s to get out of debt, take some time to think about what being debt-free will feel like and how your life will be different when you get there. Really connect with the person you’ll be when you hit those targets. Set up a vision board, if you find that motivating, so that you get regular nudges about the path you’re sticking to. Identify the rewards that you’ll get in future for sticking to long-term strategies. Try not to see the process as a win-or-lose exercise. It’s likely that you’ll have some wobbles along the way and

The content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

DIY and Kiwis – our lasting love affair with 'doing it yourself'. Call it number-eight wire mentality, can-do attitude or ‘Kiwi ingenuity’ – DIY has been a quintessential trait of New Zealanders for decades. As some would say, “It’s in our DNA.”

On any given weekend, home improvement stores see a steady flow of customers filling up their trolleys with the latest tools and materials for their projects, be it gardening, painting or fixing the deck. But why is DIY so ingrained in our culture? Here are some interesting ‘DIY facts’ and inspiration to get your creative juices flowing.

A brief history of the ‘numbereight wire’ culture. For a long time, DIYing was about ‘survival’ rather than pleasure. Some pin the origin of our ‘love affair’ with DYI to the mid-19th century, when the first wave of colonial immigrants reached our shores. Faced with uncharted territories, harsh conditions and a limited range of tools and materials, colonists had to resort to their own means to build the housing and infrastructure they needed. Then, the turmoils of the 20th century somewhat ‘sealed the deal’: amid wars and economic crises, our spirit of self-reliance came out even stronger, passing on from generation to generation. Gradually, DIY grew from survival to lifelong romance. In the 1970s, more and more people started buying old villas in the city and restoring them to their former glory; DIYing allowed Kiwis to upgrade their lifestyle, for less. Home improvement guides and tools began flourishing, and in the space of two decades, ‘big-box’ retailers took over,

inspired by a deluge of DIY television shows. The bottom line is that, over time, our small island nation had to figure out a lot of things for itself. And nothing embodies this culture of invention more than the ‘number-eight wire’ tradition. It’s simple, but it works.

Is DYI keeping you busy? 2020 will likely be remembered as the year we all stayed at home. Cooking, working, entertaining – for weeks, our life was contained within those four walls. With so much time on our hands, New Zealanders started noticing things around the house they had never noticed before. And how much we missed hardware stores during Alert Level 4…When their doors re-opened, seven weeks later, sales went through the roof – including green goods (up 470 per cent), gardening supplies (up 370 per cent), paint (up 340 per cent), and power tools (up 270 per cent). Ring a bell? If you have a few cans of paint sitting around or are looking for some more projects to tackle in the new year, here are some links to a bit of DIY inspiration for you, room by room. Decoration – 10 ways to repurpose what you already have in your craft box Outdoor area – Step-by-step guide to planning and building your dream deck

Kitchen – Simple kitchen DIY makeover Bathroom – Budget renovation ideas for under $5,000 Home office – 10 home office décor ideas Bedroom – 9 DIY ideas to decorate your bedroom. Have fun with those tools – and of course, try not to be that ‘noisy neighbour’, keep safe at all times, and don’t overestimate your talents. While a

DIY approach will probably save you money, it’s important to weigh up all risks and laws involved. If you’re not sure, calling in a professional may be the way to go. Aside from that note of caution, if you have some inspiring DIY projects planned for the warmer months – we wish you happy DIYing, and great results! The content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

Property Market 2021 What can we expect?

The resilience of the property market was perhaps one of the biggest surprises of 2020. Month after month, the market repeatedly defied the ‘doom and gloom’ predictions that had been touted by economists since Covid-19 landed in New Zealand. But many questions remain open. Will property pull off another remarkable performance in 2021? No crystal ball here, but we can have a look at what economists and property experts are saying. Interest rates & house prices Lower-than-ever interest rates were one of the key factors underpinning the market in 2020. And interest rates are predicted to remain low in the year ahead. How low and for how long, only time will tell. As Westpac chief economist Dominick Stephens pointed out earlier this year, low interest rates have had a bigger than expected impact on house prices in 2020. It has been – to use Stephens’ words – an “unusual feature of the current recession”, as opposed to the recessions of the early 1990s, 1998 and 2009, when house price drops were preceded by a rapid increase in interest rates. Having said that, Stephens added that the upward trend in house prices is unlikely to last indefinitely. “This cannot continue forever, so the big question is, when will it all end?” Stephens wrote. “The answer is, when inflation rises enough to concern the Reserve Bank. Only at that point will the Reserve Bank see fit to increase interest rates.” At the moment, interest rates look likely to remain low for the foreseeable future. While the odds of a negative official cash rate have reduced, an OCR cut in 2021 is not off the cards yet – and this may push mortgage rates even lower in the next few months. Again, only time will tell, and rest assured, we will keep a close eye on it.

RBNZ moving to reinstate lending restrictions In November, the Reserve Bank of New Zealand (RBNZ) took economists by surprise once again, by announcing the possible reintroduction of high loan-to-value (LVR) lending restrictions on banks in March 2021. RBNZ-enforced LVR limits had been temporarily removed in May 2020, supposedly for at least 12 months. As a result, the number of high-LVR home loans to investors and first-home buyers has significantly increased over the past few months – particularly investor loans. Most economists and property experts viewed the relaxing of LVRs as one of the key factors underpinning property prices this year, along with low rates and lack of supply. Some, like independent economist Tony Alexander, pointed out that the odds of LVR restrictions returning for investors in May were ‘fairly high’. No economists, though, expected the RBNZ’s decision to reintroduce LVRs as early as March 2021. RBNZ deputy governor Geoff Bascand said that the decision had been made considering improved lending market conditions and the rapid growth in higher-risk investor lending. It’s likely that the reintroduction of RBNZ-enforced LVRs will have a dampening effect on the property market, but it’s too early to make realistic predictions. Other factors to consider Besides low interest rates and LVR restrictions, there are other key factors to watch in the new year. According to CoreLogic’s head of research, Nick Goodall, “the next major milestone will be the end of the mortgage deferral programme, now pushed back to March 2021, but if interest rates reduce further and demand for property holds strong, it’s hard to envisage a lift in motivated sellers causing values to seriously drop.” Across New Zealand, prices continue to be driven by lack of supply and high demand. And the number of Kiwis returning to New Zealand may add to the pressure. As many as 50,000 New Zealanders made their way back home this year, and according to a new survey by expat Kiwi network Kea, many more are considering returning soon. What’s more, of those who have already returned or plan to come back in the next two years, 62 per cent planned to buy a residential property.

Thinking about your mortgage? With so much going on in the property and lending environment, having an adviser in your corner can help you make an informed decision about your home loan – including reviewing your mortgage structure or selecting the most appropriate interest rate for your needs. Have questions? Don’t hesitate to contact us. We’re here to help.

The content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

SUPER SIMPLE, SUPER TASTY NZ CHRISTMAS SALMON compliments of What could be more Kiwi than a side of salmon cooked on the barbecue this Christmas? Simple, quick and very, very tasty, the Greek yoghurt and dukkah cut through the richness of the salmon to create a festive delight of a dish. Our best tip: Ensure you use good New Zealand salmon. You’ll know it by its pink colour and firmer texture

Ingredients 1.2-1.5kg side of fresh New Zealand Salmon,

Directions 1. Preheat the barbecue to 180°C.

skin on, bones removed salt and freshly ground

2. Place the salmon, skin-side-down on a sheet of baking paper black pepper 1 tablespoon dukkah

and foil. This prevents sticking on the barbecue (if your barbecue plate is well seasoned you can skip this step).

1 tablespoon sesame seeds, toasted

3. Sprinkle salmon with salt, pepper, dukkah and sesame seeds. 1 tablespoon olive oil 1-2 cups Greek-style yoghurt

Drizzle over the oil. Place on the barbecue, close the lid and barbecue for 12-15 minutes.

1-2 handfuls fresh mint leaves, coarsely chopped

4. Remove salmon and place on a large serving platter. Drizzle

4 spring onions, trimmed and finely sliced

over the yoghurt, then sprinkle with the mint leaves, spring onions

¼ cup roughly chopped pistachio nuts

and pistachio nuts. Drizzle over the pomegranate molasses. Arrange lemon wedges around the salmon.

3 tablespoons pomegranate molasseslemon wedges for squeezing

5. Serve salmon with a crisp green salad. New potatoes are a great accompaniment to complete the meal.


MOCHA SOUFFLÉS compliments of People can sometimes be scared to attempt soufflés but we love this Mocha Soufflé recipe . It is really quite simple and impressive to boot.





Directions 1. Preheat the grill to 190°C.

1 tbsp Butter 35g cocoa powder

2. Place the cocoa and coffee in a saucepan with 80 ml

1 tbsp instant coffee

water and stir over low heat until dissolved. Let cool

80ml water

3. Butter well 6 ramekins and sprinkle the inside with

6 Woodland egg whites 100g



extra caster sugar shaking off any excess.




4. Whisk the egg whites in an electric mixer until soft sprinkle on the ramekins

peaks form. Slowly add the caster sugar and cream of

Pinch of cream of tartar

tartar and continue to beat until stiff peaks form.

Extra cocoa powder to dust

5. Gently fold a little egg white into the mocha mixture then add mixture to remaining egg whites .Fold in to just We







combine keeping as much air in the mixture as possible.

Stoneware Ramekins 9cm.

6. Fill each ramekin to the top. Place on a baking tray and bake for 12-15 minutes until well risen.

Serving tip - Dust with extra cocoa and serve immediately.


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