Ask and you shall receive; Wake-up Sleepyhead; Snowball myth or math; Social networking and productivity; Wither the homegrown talent?

By Amanda Morrall (email)

1) Negotiate

I can't say I wasn't warned. It's been a full week since I took delivery of my magnificent puppy Mazzy and already she's burning through my hard earned cash.  

After quickly outfoxing me with my make-shift crate, a clumsy barricade I fashioned by rearranging the furniture, I caved in and bought her her own cell. It's for my own good, and hers, I'm assured. As I was a bit desperate to put an end to the piddling, I didn't have the luxury of waiting for a cheap second to appear on TradeMe. Instead, I went for the average priced buy-me option of NZ$79. Of course, no sooner had I pushed the confirm button then the exact same crate was offered to me for NZ$65.

At the risk of getting a bad TradeMe rating, worse arguably than a credit downgrade (I do more business with fellow NZrds than the banks), I followed through on my purchase. I did however read the fineprint before turning up to collect my Made-for-$5 in China, Sold-for-$80 in NZ crate and discovered that I had a five-day refund option. The Chinese family operating this TradeMe bazaar of crates and a million other imported curiosities from China was based out of a cement bunker in industrial Albany. They didn't appear to rolling in profit but I figured it didn't hurt to ask for a discount.  I got it for $70.

The moral of this story? Well apart from the blatantly obvious truth about cats and dogs being costly, and never being in a hurry to buy, or sell, if you can avoid it, it's the ask and receive savings trick.

Sure you might get a few of those withering "What a preposterous and pathetic suggestion my dear girl or boy" looks. But more often than not, I have found you get a discount.

2) Wake up sleepy head

Personal finance, I have discovered, is this crazy free-market jungle place of ideas, blogs and soft-sell internet purchases. The handle these bloggers give themselves cracks me up. Fatguyskinnywallet.com takes the cake. This guy is on a mission to lose weight and fatten his bank account instead. Wealthpilgrim.com, freefrombroke.com, sustainablepersonalfinance.com, bucksomeboomer.com, couplemoney.com, investorzblog.com, littlehouseinthevalley.com, sooverdebt.com., the list goes on and on.

A few are selling their wares, others aren't selling anything. They're sharing their knowledge. Nothing wrong with that.

Here the millionairenurse.com discusses how he's managed to turn his insomniac tendencies into hours of productivity. Lethargy, I would argue is almost as bad as debt, for those who want to get ahead. 

3) Snowball myth or math

The snowball method for debt reduction is an interesting one. Essentially, it's a psychological weapon to attack debt. Adherents (debt laden-folks going in circles or spiralling in the red) are encouraged to tackle their smallest debt first before working up to the bigger high-interest bearing beasts. The idea is that by starting off modestly, you'll build up the confidence necessary to knock-off the big bastards later on.

Personally, I believe it makes most sense to target the most expensive debt, then work your way down the list. However, it's not a one size fits all formula in personal finance. Each individual is unique in how they view and manage their debt. Stick to what works and don't relapse. thedebtmyth.com takes a similar view in this blog analysing the math behind the snowballing method. Some cool apps to check out as well.

BTW, I am looking to review personal finance apps for New Zealanders so please email me your suggestions if you have any: amanda.morrall@interest.co.nz

 4) Social networking and productivity 

I'm a social media convert. I used to think it was a waste of time or else an outlet for individuals who couldn't or preferred not to engage with people the old fashioned way; talking.

Life is oh so humbling. Sorry Bernard for mocking you.

Some interesting findings in this ManPower report on how New Zealand employers view social networking in terms of a productivity tool and booster. I still have some doubts about how Facebook improves productivity but I expect I'll be proven wrong, again.

5) Wither the homegrown talent?

I like to fancy myself "foreign talent.'' It sounds so self important and exotic. Really, I'm just a hack from Canada lucky to wash up on your beautiful shores. Journalists are a dime a dozen.

Engineers on the other hand, now there's a professional you can feel proud of, and better yet highly desired.

In the same whitepaper as above released by ManPower, New Zealand employers questioned about hiring outlooks and sources, report that 39% of new recruits will be from abroad. Engineers are at the top of the labour food chain, followed closely by technicians and software experts.

The primary countries of origin for foreign talent scouted by New Zealand employers are the U.K., South Africa, India and Australia.

Some other juicy tidbits in this report as well. 

My question? Wither the local talent? Presumably in OZ?

To read other Take Fives click here or follow Amanda on Twitter @amandamorrall