Philip Holland Financial Independence www.financialindependence.co.nz

At least 61 per cent of New Zealanders want to keep more of the money they earn.

A survey conducted by one of our advisers, Steve Chitty, has highlighted the things Kiwi families want to achieve with their finances. The top three are:

1. Keep more money they earn and make it go further (61.1 per cent)

2. How to get out of debt quickly (55.6 per cent)

3. Financial security for their family if they suffered death or major illness (36.1 per cent)

These are interesting results. Firstly they tell us people want to stretch the dollars they earn further. In today's fast-paced world, where over the last few years the ability to borrow money to buy quickly depreciating goods (TVs, cars etc) has caused many people to become financially stretched.

We have been told for years that we need to rely less on buying property and more on actually saving money to ensure that we survive an ever-increasing lifespan. In some ways this recession has been a good wake up call for us all of us that we all need to pull our heads out of the sand and start to budget better for our future.

The second point is also interesting. People want to know how to get out of debt quickly. Again, the sad truth is that consumer debt and mortgages have been so easy to get hold of over the last few years and now people are paying the price.

Once again the banks and lending institutions have much to answer for. However, it is also our responsibility to help to educate our children and others about the difference between ‘good debt, versus bad debt' and structures available to repay debt faster.

The third concern was financial security for peoples' families if they were to die or suffer a major illness. The recession and the recent earthquake have highlighted the fact that the risks we face in life are real.

Although we live in a tranquil, peaceful country, anything is possible and we need to get in step with the rest of the world and stop being so laid-back about insurance. It is a shame that many people will suffer before we all wake up and realise that under-insurance is a major social problem in New Zealand.

The team at Financial Independence is determined to help our community with these top three financial issues and is running seminars in conjunction with the Papamoa Toy Library on the five things you can do to keep more of the money you earn.

Entry is a gold coin donation to the Papamoa Toy Library.

Philip Holland is managing director for the Financial Independence group, Tauranga's leading specialist insurance and mortgage advisers. For further information please contact an adviser at Financial Independence 07 578 4414 or email info@yourbroker.co.nz. A Disclosure Statement is available free of charge on request.