What's hot and what's not for your wallet this month?

Here are our top picks for the December 2024 Boom or Bust list!

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Booming.

• Going plastic free this Christmas (see Shona's family's efforts below!)
• Not spending money by having yourself a thrifty little Christmas and joining the ““Proudly Stingy” movement
• Buying your first home before the investors come back
• Taking a cheap roady as lower fuel prices expected this summer
• Starting a new high paying career that doesn't require massive student debt
• Still planning for retirement, despite economic woes  
• Saving money on mortgages, as banks drop interest rates
• Dipping your toes into property investment
• Using a mortgage broker to get lending
• Demanding ethical investment options and ditching sin stocks
• Dabbling in Bitcoin (not a recommendation from us by the way, read this handy MoneyHub guide for more info on this kind of investment).

‍Busted.

• More chances of getting scammed at Christmas
• Paying more for power from April
• Waiting for banks’ processing times. Sigh.  
• Having to rely on Buy Now Pay Later to pay for Xmas (check out some of our alternative ideas here)
• Getting ripped off at the supermarkets
• Worrying about your job
• Death to 80,000 chickens
• Saying goodbye to another iconic Wellington business

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This article was written by Shona and peer reviewed by our financial advisory team.

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Disclaimer: Shona is not a financial adviser. The above is generalised information that has been peer-reviewed by the Velocity Financial Advisory team. As always, before you make any financial decisions, discuss your situation with an adviser from Velocity Financial, and seek advice from professionals, such as a lawyer and accountant, to find the best solution for your unique situation.

About Shona: Hi, I’m Shona, the communications and marketing support person for Velocity Financial. Designing effective communications in a complex industry such as Finance is a worthy challenge. Finding ways to bridge gaps between complex financial information, and the everyday needs of people trying to navigate that world through informed choices, is something that I relish. I love deciphering and disseminating the expert knowledge and ideas of our clever team, into simple messages that speak directly to our clients, who are hungry for more knowledge and better understanding (like me!). In my outside life, I am a keen photographer and, like others in the team, I have a passion for the outdoors, hiking and mountain biking. I also train in martial arts and have been known to wield a sword on occasion.

Always get professional advice

The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation.  As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures  https://www.velocityfinancial.co.nz/disclosure-statement.

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