Making Cents

Your side hustle is making real money. Now what?
Because when the income is real, things are growing, you can suddenly realise the whole operation is held together with sticky tape and good intentions.
Income from a job, income from side work, all of it landing in the same personal account with no clear picture of what's coming in, what's going out, or what any of it means for tax time.
This week on Ask the Experts, James Gibson, head of Revolut Business, walks through exactly what to do when a side hustle outgrows its informal beginnings.
It’s a question that a lot of self-employed New Zealanders will recognise: how do you set up your finances properly when your side hustle starts making serious money?

This episode covers:
When to open a separate business bank account for your side hustle
How to manage multiple income streams without losing track
What happens if you mix personal and business finances, and why it matters at tax time
How to track self-employed income and expenses without an accountant
Budgeting and cash flow basics for first-time business owners
Simple financial systems for the self-employed that don't require a finance background
How to structure your money when you're employed and self-employed at the same time

If you have a letter you’d like us to answer, please send it through to ask@francescook.co.nz and you might feature on our next episode!
This episode is proudly supported by Revolut Business. Sign up online and get a one-month free trial at this link. T&Cs apply, subscription fees will apply at the end of the trial, see website for details. Revolut Payments New Zealand Pty Ltd.

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Production and video editing by Lana Byrne
Audio engineering by Tash Chittock
Filmed by Fanaticals

There’s a wealth transfer ready to happen right now, but only if you know where to look for it.
A generation of baby boomers built their businesses over decades. Now they're ready to retire. But they can't find buyers.
Which means there are businesses out there right now, with existing customers, existing income, existing systems, waiting for the right person to take them over.
Jeremy Pak has a ringside seat to all of it. He's a chartered accountant and managing director of Velocity Capital, who spends his days helping New Zealanders buy and sell businesses worth millions.
What he's learned about how wealth actually gets built in this country might change how you think about your own options.
In this episode we cover:
When to buy a business, vs starting one from scratch
How to fund a business purchase even if you don't have cash sitting around (including vendor finance)
What Jeremy is seeing in the market, and why he's forecasting a threefold increase in business sales next year
How to stress test a business before you buy it
Which types of NZ businesses Jeremy thinks have the potential to earn the most

This episode of Making Cents is proudly supported by Odoo. Go to https://www.odoo.com/r/hpl now and try it for free, for 15 days.

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Production and video editing by Lana Byrne
Audio engineering by Tash Chittock
Filmed by Fanaticals

Financial freedom sounds great in theory, but what does it actually take to get there as a normal person?
In this webinar, Frances Cook is joined by Sheppard & Ormsby chartered accountant Bronwyn Candish and EnableMe national coaching lead Katie Wesney to break down what financial freedom really means, how to find the money to invest, the biggest mistakes people make along the way, and one thing you can do this week to get started
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Being weird with money is the smartest thing you can do, to get financial freedom.
Most of us are following the same money playbook, and it’s not working.
Around 30% of New Zealanders don't have $1,000 in savings, and over 60% couldn't cover a real emergency.
Frances Cook, financial journalist and host of Making Cents, shares exactly how embracing "weird" money habits helped her build financial freedom, and how you can do the same.
In this episode:
Why the standard approach to money keeps so many of us stuck, and what to do instead
The hedonic treadmill: the psychology trick that's draining your wallet
How to figure out what actually makes you happy (it's probably cheaper than you think)
The secondhand challenge that changed Frances's finances
Why a cheaper daily life and big one-off experiences beats an expensive lifestyle every time
How to stop spending on what other people want, and start spending on what YOU want

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Production and video editing by Lana Byrne
Audio engineering by Tash Chittock
Filmed by Fanaticals

Many New Zealanders are overpaying tax, missing refunds they're entitled to, and leaving money on the table, simply because the system is confusing and nobody explained the rules.

In this episode of Making Cents, chartered certified accountant Baqir Hussain, founder Finex Accounting, breaks down exactly how to stop losing money to the tax system and start making it work in your favour.

We talk:
The single biggest mistake Kiwis make with the IRD, and how it turns small issues into massive tax debt
How New Zealand's progressive tax system actually works (and why you should always take that pay rise)
Surprise tax bills: the most common causes and how to avoid them
What salary earners can legitimately claim back, including income protection insurance, donations, and investment costs
Working for Families: who qualifies, how to backdate claims up to four years, and how one family recovered $15,000 they didn't know they were owed
Home office deductions for self-employed workers and contractors
Why tax threshold creep means most Kiwis are quietly paying more tax every year

Whether you're a salary earner, raising a family, or running a small business, there are straightforward steps you can take right now to reduce your tax bill — legally, and simply.

This episode of Making Cents is proudly supported by Odoo. Go to http://odoo.com/r/hpl now and try it for free, for 15 days.

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe
Become a confident sharemarket investor by signing up to the Market Memo newsletter https://www.francescook.co.nz/invest

#MakingCents #FrancesCook #MakingCentsPodcast #InvestingPodcast #MoneyPodcast #FinancialFreedom

Production and video editing by Lana Byrne
Audio engineering by Tash Chittock
Filmed by Fanaticals