Tip 1: Get on it.

  • If you're currently employed, talk to your boss — you could have signed on to KiwiSaver without even realising it.
  • If you're freelancing, contracting or self-employed, you might have to set it up yourself.
  • Check My KiwiSaver to find your provider if you don't know who they are.

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.

Tip 4: Read your KiwiSaver report.

  • Your provider will send out KiwiSaver statements — make sure to take an interest in these reports.
  • Check for the following; your balance (overall savings), any difference (the change between opening and closing balance for the year) and withdrawals you've made.
  • Note what gets taken up in tax and fees (yep, your provider takes a slice out of your KiwiSaver interest!)


Tip 5: Only withdraw if you can meet the following…

  • Severe illness (you or a dependant family member).
  • Declaring bankruptcy.
  • Needing a suspension due to financial hardship.
  • Looking to buy a home.
  • Retiring.


Tip 6: Check what else you're owed.

  • First home buyers can get between $5-10,000 through the First Home Grant, depending on whether they're buying an existing home or planning a build.
  • You can also get $1,000 a year in subsidies from when you first open KiwiSaver.
  • Don't rely on any scheme, though. There are caps on income, house price, existing debt and other factors that could count you out of the running.
  • But that doesn't mean you can't take a sneak peek to see if you can't get some free money. So check your eligibility first.
  • If you can, factor it into your budget. If not, you've still got a KiwiSaver that's building up interest.

Yonda: your new financial friend.

Yonda’s all about helping you make a real difference when it comes to your financial future. Want more guidance on making the most out of your KiwiSaver? We’ve created a new app designed to help you start budgeting better and check your credit score on the go.

Sound good? Head to our homepage to download the app and find out more.


Info and tools on the Yonda website are used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.


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