Tip 2: Up your contribution.
- If you have a financial goal in mind, like saving up to buy a house in the next few years, push out to a higher contribution rate.
- Rates are 3, 4, 6, 8 or 10%.
- Based on your current income, calculate what you can afford to put into your KiwiSaver vault.
- Don't be afraid to put in extra bits of cash to it over time — you don't always have to wait for your automatic contribution to kick in.
Tip 3: Treat your KiwiSaver like interest.
- KiwiSaver isn't really a savings account — it's an investment scheme to grow your savings account.
- Choose your KiwiSaver provider based on the rate of interest they offer.
- Get familiar with the different types of interest — defensive, conservative, balanced, growth and aggressive.