Improving your income often comes down to making informed, practical decisions about work, study, and financial opportunities. If you can use any of the following ideas to increase your income, you may not need to get budgeting advice.
or a community budgeting service. Do not pay for the services of a company which advertises that it will try to get a tax refund for you.
Think carefully before committing to education or training by ensuring it leads to real job opportunities. Many people waste time and money getting a qualification that does not help them get a job or increase their income. Before signing up for an education course and taking on a student loan, ask potential employers if there is any demand for workers with the qualification you are intending to get.
You may find a free course online through the Open Polytechnic that suits your needs Fee Free Study | Online Learning | Open Polytechnic
Do not waste money on seminars and schemes that offer to help you make money. If the promoters knew how to make a lot of money, they would not be telling other people about this.
Your employer may be paying you as little as possible and there could be other employers who would be willing to pay you more. Keep a watch out for jobs that could suit you better and could pay more. Your current employer may be willing to match or better any job offer you receive. ChatGPT will also give you a range of salaries for similar roles in NZ but it pays to fact check.
Keep a record of dates of pay increases. Ensure you are getting an annual increase that at least matches inflation, otherwise you are getting poorer each year.
Joining a Trade Union NZCTU can help you get improved wages and working conditions. You can also find out whether you are being paid the same amount as others who have similar qualifications and experience. If you have any problems at work or are made redundant, then advice and support can be provided.
When buying a business, check the claims being made by the seller, and seek advice from the owner of a similar business in another part of the country. Get advice from a Chartered Accountant on the value of the business and get legal advice before you sign up. If it is a franchise, check with other franchise owners that the support expected matches reality.
Make sure that you keep correct up-to-date records and be aware of your tax obligations at Income tax
If you are setting up your own business, make sure your business idea is viable by clearly defining your market, creating a business plan, and asking the right questions to test whether it will work. You can find information about setting up your own business at 5-step guide to starting a business - Business.govt.nz
