Bella’s July Journal: Travel Stories + Must-Know Money Updates
I recently took some time off to travel, starting with a quick trip to the UK where I was lucky enough to attend Wimbledon and watch some of the world’s best tennis players live – a total bucket list moment! After that, I headed to Italy to spend some quality time with family in Florence, soaking up the sunshine and enjoying plenty of pasta and Aperol.
Even while I was overseas, I stayed connected with my clients to make sure everything kept moving along smoothly. The rest of the team were amazing and stepped in to cover anything urgent while I was away.
Bella’s Highlights
Between cheering on the tennis greats at Wimbledon and enjoying beautiful food with family in Florence, Bella’s trip was the perfect mix of fun, food, and family time. She’s back feeling refreshed and ready to help you make the most of the second half of the year.
KiwiSaver Updates You Should Know About
A few big changes have come through for KiwiSaver from 1st of July 2025:
Government Contribution Cut in Half - You’ll now receive 25 cents for every dollar you contribute (up to $1,043 per year), meaning the annual government top-up has dropped from $521 to $260.
Changes for 16-17 Year Olds - From 1 April 2026, those aged 16 and 17 will also be eligible for government and employer contributions.
Income Cap Introduced - If you earn over $180,000 a year, you’ll no longer be eligible for the government contribution.
Default Contribution Rates Are Rising - From April 2026, default contribution rates will move to 3.5%, increasing again to 4% from 2028.
If it’s been a while since you’ve reviewed your KiwiSaver, or you want to see if you’re in the right fund, just flick us a message, as we can help with a quick, free review.
Changes to the First Home Loan Scheme
There’s been an important update to the First Home Loan scheme that first home buyers should be aware of.
Fee Increase - From 1st of July 2025, the Lender’s Mortgage Insurance (LMI) fee for First Home Loans increased from 0.50% to 1.20% of the loan amount. This is a significant jump in the upfront cost for those using this scheme with a low deposit.
How It Works - You can still use your KiwiSaver, savings, and gifted funds as part of your deposit. The LMI fee can also be added to your loan, meaning you don’t need to pay it upfront in cash.
If you’re looking at buying your first home or know someone who is, feel free to get in touch and we can work through your options together.
The Importance of Having a Will
A recent RNZ article shared a critical reminder about having a will. It highlighted a tragic situation where a woman passed away unexpectedly without a will in place. Because she wasn’t legally separated, her ex-partner received everything, leaving her young children with nothing. Here is the link to read further - https://www.rnz.co.nz/news/thedetail/566785/death-without-a-will-and-the-mess-left-behind
Without a valid will, the law decides who gets what, and it doesn’t always reflect what you’d want.
A will can make sure:
The right people inherit your assets (including your KiwiSaver)
Your children are protected
There’s less stress and cost for your family
If you have more than $15,000 in assets (including KiwiSaver), have kids, or just want peace of mind, it’s definitely worth getting a will sorted.