Lift your money game and master your finances with our friendly, informative blogs. We cover everything from taking out loans to understanding KiwiSaver, to improving your credit score. Please note, Yonda is not a financial advisor and does not provide financial advice. 

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Are you checking your credit score for the first time? Or going up for something big, like a business loan. We've got tips here on how to best track your score and how to make it improve, so lenders start seeking you out!

Tips for checking your credit score.

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Tip 1: Know your credit scoring numbers.

<h2>Tip 2: Applying for a business loan? Do a credit report.</h2><ul><li>Check your score through Yonda for instant access.</li><li>Touch base with a credit reporter for a full paper report to take to the bank. We have three in New Zealand; Equifax, illion and Centrix.</li></ul><p>&nbsp;</p><h2>Tip 3: Query what you find.&nbsp;</h2><ul><li>Credit reports can go astray, so check for errors.</li><li>If anything seems amiss, query what you find with your credit reporting agency. They have to fix it if it's wrong.</li></ul>

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Tip 4: Stay on track.

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Tip 6: Don't make too many credit enquiries.

Need help managing your money? Yonda's here for you.

<h4><span class="text-tiny"><i><strong>Disclaimer.</strong></i></span></h4><p><span class="text-tiny"><i>Info and tools on the Yonda website are to be used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.</i></span></p>

Do credit scores make no sense at all? No sweat — because we're all about explaining this little number simply for Kiwis. Here we cover what scores are and how to check them, and general credit score info that's helpful to know. 

What are credit scores?

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If you’ve ever taken out a loan, a credit card or made a hire purchase, you’ll have a credit score. But what exactly does this score measure? In short, it’s a number that tells banks and lenders how much money you can secure when applying for loans or other credit amounts.

What is a credit score?

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Here we cover how credit reporting works and why your score matters. And don’t worry — we won't go into any financial jargon or complex math. In this blog, we’re about explaining financial terms simply. 

Would you like your credit score easily explained?

Managing your money can quickly feel overwhelming when you're busy living life, especially when emergencies suddenly break out. However, planning a budget and factoring in some wiggle room can save you a lot of hassle further down the road.

Personal finance tips.

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Tip 1: Plan a budget.

<h2>Tip 2: Apply the ‘<strong>50-20-30’ </strong>rule.</h2><ul><li>Spend 50% on necessities.</li><li>Put 20% towards your savings.</li><li>30% can go to whatever.</li><li>Or, if you like, try '60-20-10-10:<ul><li>60% on expenses.</li><li>20% for savings.</li><li>10% on long term goals.</li><li>And 10% on short-term fun!<br>&nbsp;</li></ul></li></ul><h2>Tip 3: Write down your purchases.</h2><ul><li><span style="color:#0E101A;">Start by adding up your income&nbsp;— that's all the money you've got coming in.&nbsp;</span></li><li><span style="color:#0E101A;">Then, subtract all your expenses<strong>&nbsp;</strong>— that's everything you spend (we do mean everything).</span></li><li>Once you have an idea of what you currently spend, start taking note of your purchases as you make them.</li><li>You can note this down on your phone, on a notepad or by making a scrapbook out of your receipts! If you go for this option, make sure to add up the online payments.</li></ul>

Tip 4: Set long (and short) term goals.

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Tip 5: Carefully consider personal loans.

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Tip 6: If loans are for you, know your credit score.

Need a hand with your personal finance in NZ? Yonda’s here.

<h4><span class="text-tiny"><i><strong>Disclaimer.</strong></i></span></h4><p><span class="text-tiny"><i>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.</i></span></p>

Personal Finance Tips

Found out your credit score and didn't like what you saw? Or have you just been rejected from a loan or credit application? No worries — we've got tips on raising scores, what you should be looking out for and even why you should care (if you're still not convinced). Plus, extra tips on how to improve your score when house hunting.

Improve your credit score

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Buying now and paying later, or BNPL, is pretty standard, with so many lenders on the market. There are many easy options to pay off on instalments, using credit, debit, Apple Pay or other options. All of which makes it extra hard, when you do something you want, not to immediately take it on BNPL.

Will buy now and pay later affect my credit score?

Everything you do affects your credit score, from paying bills to taking out credit cards and loans. Which in turn decides the interest rates you pay and whether you can get a loan at all!


Credit scoring tips.

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Tip 1: Pay your bills. And credit cards.

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Tip 2: If you're going for something big, get a full credit report.

<h3>Tip 4: Don't apply too hard for credit.</h3><ul><li><span style="background-color:transparent;">If lenders see that many people have been checking your credit score, they might think you’ve been hunting for more loans than you can afford.</span></li><li><span style="background-color:transparent;">Don’t apply for too many credit cards either — it makes you look desperate.</span></li><li><span style="background-color:transparent;">Quotation enquiries are when credit providers look at your credit history without making a difference to your credit score.</span></li><li><span style="background-color:transparent;">Complete credit applications do make a difference, but just in the wrong way.</span></li><li><span style="background-color:transparent;">Too many complete applications will make it look like you're desperate for cash and drop your score.&nbsp;</span></li><li><span style="background-color:transparent;">So check what kind of enquiry you're getting when applying for either a loan or a financial checkup from a credit reporter.&nbsp;</span></li><li><span style="background-color:transparent;">And, if you're running a complete application before taking out a loan, make sure you need it first!&nbsp;</span></li><li><span style="background-color:transparent;">You can always use Yonda to check your credit score for free without it hurting your score in any way.&nbsp;</span></li></ul><p>&nbsp;</p><h3>Tip 5: Don't default, don't abandon.&nbsp;</h3><ul><li><span style="background-color:transparent;">If you’ve got a credit or store card you’re not using, cancel them.</span></li><li><span style="background-color:transparent;">Don't allow defaults or missing payments to stay on record.</span></li><li><span style="background-color:transparent;">Make a plan to pay them back instead of leaving them open.</span></li><li>Also — don't move your debts around between credit cards or shift credit over if applying for hardship. It's an actual red flag for lenders.</li></ul><p>&nbsp;</p>

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Tip 6: Build a credit history.

Hold on, dude!

Credit Scoring Tips.

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Credit scores and your credit history are important indicators of whether you are safe to lend money with. While you may not need any money now, building a credit history is critical if you want to buy a house or purchase anything on credit. 

Why Kiwis should learn to love their credit score.

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It's crucial to keep a good hold on any money leaving your account. So, in this blog, we’ll cover all the ways to track your money — financial planning, budgets and calendars.

Why financial planning, budgets and calendars are important.

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Equifax is a global data, analytics, and technology company that provides third parties and lenders with credit reports — in short, putting people in touch with their credit information and history. 

Who are Equifax and what do they do?

You've probably at least heard of KiwiSaver, or maybe you're a seasoned savings pro. Basically, for those who don't know, KiwiSaver exists to help you save for two occasions in life; either a house or retirement. Who you set your KiwiSaver up with and how much you contribute is a little more complicated.

KiwiSaver tips.

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Tip 1: Get on it.

<h2>Tip 2: Up your contribution.</h2><ul><li>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.</li><li>Rates are <span style="color:#0E101A;">3, 4, 6, 8 or 10%.</span></li><li><span style="color:#0E101A;">Based on your current income, calculate what you can afford to put into your KiwiSaver vault.</span></li><li><span style="color:#0E101A;">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.</span></li></ul><p>&nbsp;</p><h2>Tip 3: Treat your KiwiSaver like interest.</h2><ul><li>KiwiSaver isn't really a savings account <span style="background-color:rgb(255,255,255);color:rgb(77,81,86);">—</span> it's an investment scheme to grow your savings account.</li><li>Choose your KiwiSaver provider based on the rate of interest they offer.</li><li>Get familiar with the different types of interest <span style="background-color:rgb(255,255,255);color:rgb(77,81,86);">—</span> <strong>defensive</strong>, <strong>conservative</strong>, <strong>balanced</strong>, <strong>growth</strong> and <strong>aggressive</strong>.</li></ul>

Tip 4: Read your KiwiSaver report.

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Tip 6: Check what else you're owed.

Yonda: your new financial friend.

KiwiSaver Tips.

KiwiSaver is a great way to get started on that retirement fund or first home loan — it forces you to put a little aside each week until that little becomes quite a lot! Here, we've got tips on how to apply, track, switch out and even spend your KiwiSaver. Plus, extra tips on how the KiwiSaver scheme helps mortgage borrowers.

Managing KiwiSaver

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Have you experienced any financial hardship recently? Or did you see a property on the market that would be ideal for a first-home buyer? There may be something KiwiSaver can do for you, but it all depends on your circumstances. After all, KiwiSaver is committed to putting your money aside for future use. 

When can members make an early withdrawal from KiwiSaver?

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Are you thinking of going into business or getting a degree? Well, you're probably going to need to start thinking about loans. Here, we've got tips on applying for loans and mortgages, financing your car, starting school and even how much you should borrow. Plus, extra tips on how to stay safe online and ward off pesky cyber-attacks!

Your resources.

Getting a loan

Managing KiwiSaver

Improve your credit score

What are credit scores?

Explore

Mortgage finance tips.

Car finance tips.

Credit score check.

Credit scoring tips.

KiwiSaver tips.

Personal finance tips.

Cyber Security tips.

Personal loan tips.

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Getting a loan

Managing KiwiSaver

Improve your credit score

What are credit scores?

Explore

Mortgage finance tips.

Car finance tips.

Credit score check.

Credit scoring tips.

KiwiSaver tips.

Personal finance tips.

Cyber Security tips.

Personal loan tips.

Download Yonda today, it's free.

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