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Nicci's guide to setting goals


"Setting a goal and a plan to achieve that takes me out of my day-to-day routine of getting up, going to work and paying the bills. I love the countries I've been able to visit by saving money, and the things I've been able to see and do."

Nicci's short term goal: to get rid of her debt

"You can't avoid debt," Nicci says. "It's best to get it out of the way first. Recently I had to spend $500 fixing my car, and I had to put the bill on my credit card.

"Once I have paid it all off, I'll be able to start thinking about my mid-term goal, rather than worrying about my short-term goal."

Click here for the Talking Money Sense guide to managing your debt - get yourself out of the red!

Nicci's mid-term goals:

1.  To travel


"I need to have a timeframe in mind when setting goals, and travelling is perfect - once the tickets are booked there's no going back.

"I'd love to go to Italy and Greece or to the States. I've travelled a lot before so I know what to do. I set myself rules to ensure I've saved enough before I go:

  • Resist the temptation to spend money on social activities and nights out on the town
  • Be organised - figure out exactly how much you have to save a fortnight/month to reach your target
  • Make sure you have all the money you need and don't forget to also budget for emergencies - remember $10,000 will take you far further than $7,000

"It can be hard work saving, but the rewards are incredible."

Click here to find out how to kick-start your own budget. This guide offers hints on how to save.

2. To save for a deposit on a first home

"I'm a member of Westpac KiwiSaver, and I think it's fantastic. I keep an eye on my KiwiSaver balance using online banking.

"Some of the money I have in KiwiSaver is dedicated towards the deposit on my first home. It's nice to know that after three years of contributing to KiwiSaver I can withdraw both my own and my employer's contribution to help purchase my first home. My deposit won't be entirely dependent on how much I have in my bank account."

For more information on KiwiSaver, click here .

Click here to find out more about the Westpac KiwiSaver Scheme or a copy of the investment statement.

Is the idea of buying your first home too terrifying to contemplate? Check out the TMS guide to buying your first house - it's not as scary as you think.

Nicci's long-term goal: pay off her home loan

"I don't have enough money for a deposit yet, so paying off a home loan is definitely a long-term goal," Nicci says.

Click here for the TMS tips on how to pay off your home loan. Find out what your options are for getting rid of your debt.

Other resources

The 'my goal worksheet' link on the Sorted site allows you to input your goals online. Click here to get started.

Watch the video

Click here
to watch Rae, Nicci and Marina talk about how they're achieving their goals.



Talking Money Sense: How can I achieve my goals?

Marina: How setting goals early can lead to big rewards
Marina shares her tips on how to get kids excited about saving.

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Get a grip on how compound interest works.

Why aren't my pennies piling up?
Are your finances in a mess? Check out the TMS tips on how to gain control over your money.

How Westpac can help you and your kids save
Find out how Westpac can help both kids and adults save, including KiwiSaver options, savings games and online calculators.

What you need to know about KiwiSaver



The content of Talking Money Sense is general in nature, is designed for information purposes only and is not intended to constitute financial or other advice. Information is subject to change. Terms, conditions, fees and charges apply to Westpac products and services. See www.westpac.co.nz or call into your nearest Westpac branch for details. You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge. Westpac New Zealand Limited.