Can you trust your bank?; Pets for the super rich (and the rest of us plebes); Corporate tax dodge; Mortgage dieting in Oz; Strange sales in the U.S.

By Amanda Morrall

1) Trustworthy?

Apparently I have trust issues. I always have this sneaking suspicion that someone is out to sell me something. More often than not I'm right. Banks rank pretty high at the top of my list of who not to trust. Why? Well because let's face it, they have ulterior motives. Recently, I have softened my attitude towards banks (just a tad) given there are some nifty things happening in the technology space that might actually improve rather than impoverish their customer's lives.

However this article from boomerandecho.com, about whether you can trust advice from your bank has made me paranoid, once again. That's especially the case as  a lot of surveys (a pretence to flog their products) come my way. 

2) Pets for the super rich

I have written many times now about my pooch Mazzy and what a furry financial liability she is. Still I wouldn't trade her for all the coffee in Jamaica. After reading Richard Meadow's piece on pet ownership costs on Stuff.co.nz I got a bit of a boost. You see, when it comes to money and material stuff, everything is relative.

Compared to NBR Rich-lister Alan Gibbs, who furnished his Kaipara sculpture park with two giraffes (estimated to cost NZ$250,000 each over their lifetime) owning a simple canine and feline is a downright bargain. I am envious in one way though; that Mr. Gibbs' decision to buy a pair of these exotic creatures has spared him the effort of having to organise play dates for his expensive pets. 

3) Corporate tax dodge

Kudos to "The Intruders", a U.K. protest group that is managing to penetrate the upper echelon of corporate U.K. and shame them (and their enablers) for duplicity and tax dodging of the most cunning kind.  The Daily Mail reports on how The Intruders disgraced HMRC boss Dave Hartnett at a black-tie event for his largesse in cutting big corporates like Goldman Sachs and Vodafone massive tax breaks. It took a while for the crowd to cotton on to the fact that well-heeld Intruders were taking the proverbial in a big way and for organisers to threaten to sick the dogs on them. I howled. (see the video below).

I've decided we should start a NZ chapter. Anyone keen? Thanks to my most excellent tax columnist Terry B for this great find.

4) Burying debt

While alarm bells are being sounded in Canada about credit happy consumers continuing to borrow beyond their means as though the GFC didn't happen, Australians are getting super serious about getting out of debt. While household debt there remains high, the Reserve Bank of Australia reports that half of all borrowers are ahead of mortgage repayment schedules. (Clancy Yeates from the Age reports). 

That said, the International Monetary Fund last week said "that the high level of household debt in Australia, coupled with falling house prices, was a point of vulnerability, Yeates reports.

5) Curious sales 

Last week, Time Money reported on the Top 10 end of the world products that were all the rage in the U.S. This week, the magazine has compiled a list of nine products enjoying a curious surge in sales amid the recession. They include donuts; motorbikes purchased by women, guns, beer sold in cans and wrist watches.

Curious indeed. I haven't worn a watch in five years. With the exception of the odd Krispy Cream when I go through Auckland International, I stopped eating donuts after moving to NZ.  Probably not a bad thing.

Forgive me StanGoodVibes, but this is one video you won't want to miss:

To read other Take Fives by Amanda Morrall click here. You can also follow Amanda on Twitter @amandamorrall