18 May 2007

Dr Cullen Gets Sorted

Fresh from sorting out the nation’s finances, Minister of Finance Michael Cullen today turned his attention to his own financial situation. Joining the Retirement Commissioner Diana Crossan, Wadestown nurse Beelah Bleakley and her daughter Mereana, Dr Cullen reviewed his own finances using the Retirement Commission’s new online financial check up tool, Sort Me. Both Dr Cullen and Ms Bleakley described the tool as an excellent resource to get their finances sorted, particularly in the lead up to KiwiSaver. Sort Me is available at www.sorted.org.nz.

Online Financial Check takes Pulse of Personal Finances in time for KiwiSaver

New Zealanders now have a brand new online tool to help get their money sorted before deciding on KiwiSaver.

Sort Me is a quick and easy online financial check up on www.sorted.org.nz developed by the Retirement Commission to help all New Zealanders take the pulse of their personal finances.

“Before people can make informed KiwiSaver decisions they need to know about their own financial situation and that’s where Sort Me helps out,” Retirement Commissioner Diana Crossan said today.

“Deciding whether to stay in, opt into, or opt out of KiwiSaver may be the biggest financial decision that 2.11 million Kiwis have to make this year [1]. And what suits one person will not necessarily suit another.

“Sort Me is like giving your finances a health check. It works out how financially sorted you are by asking a few simple multi-choice questions, then analysing the answers.

“These questions include:

- Do you have financial goals?

- How far does your money go?

- Are you servicing a mortgage? Other debts?

- When do you plan to retire?

- Do you have assets? Are they insured?

“Once you’ve submitted your answers, Sort Me gives a summary telling you how you’re doing in eight different areas of basic money management.

“It includes simple things you could start doing right now to get yourself more sorted,” she said.

And Sort Me isn’t just for KiwiSaver. “No matter our income level, we all need to review our finances regularly. That’s at least once a year or whenever our situation changes – if we get a pay rise, buy a house, a car, or get married, have a baby or maybe get an inheritance.”

The Retirement Commission will also soon launch its Sorted KiwiSaver Decision Guide. This will step people through the questions they need to answer to work out how suitable KiwiSaver is for them.

Sort Me is available online at the Retirement Commission’s free and independent website dedicated to helping New Zealanders get sorted on money matters, www.sorted.org.nz.

Just click on the link to Sort Me and try it for yourself!

http://www.sorted.org.nz

ENDS

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