Your Mindset and Your Money

Written By: - Date published: 1:29 pm, January 18th, 2023 - 48 comments
Categories: class, Economy, poverty, tax - Tags:

According to massive property owner Graeme Fowler, the world view about money New Zealanders have governs our place in society.

Often, the difference between poor people, rich people and middle-class people isn’t how much money they have, or even how much they make. The difference between these people is what they believe is actually the purpose of money.

One of the most significant distinctions between the poor, middle class, and wealthy is their respective mindsets. The way in which each group views the world, their goals and their aspirations can vary greatly, and these differences can have a significant impact on their overall well-being and success.

The poor also often have a scarcity mindset, where they see the world as a place of limited resources and opportunities. This can lead them to believe that their chances of success are slim, and they may feel that they have little control over their lives.

This can lead to feelings of hopelessness and despair, which can prevent them from taking positive steps to improve their situation”.

But then there’s the middle class, apparently.

They see the world as a place of opportunities, but also recognise that there are limits and obstacles that must be overcome. They are more likely to believe that they have some control over their lives and can take steps to improve their situation,” he said.

“However, they may also feel a sense of stagnation, where they may see they are unable to progress or reach their goals.

“The wealthy, on the other hand, tend to have a growth mindset, where they see the world as a place of endless opportunities and resources. They believe that they have the power to shape their own lives and that their success is not limited by external factors. This mindset can lead them to take risks and pursue their goals with confidence. This can contribute to their overall success and prosperity.”

There are so many ways to mock this kind of nonsense, but let’s just start with Maori and go from there.

It is really clear that European ethnicity people in New Zealand own most of the wealth and Maori and Pasifika own the least, by a very, very long distance.

So do Maori have a bad attitude to money? If they just changed their minds about money could Maori just become more wealthy?

It has long been clear that Maori are on the whole one of the most entrepreneurial people not only in New Zealand but also in the world.

It has also long been clear that New Zealand is one of the most entrepreneurial countries in the world, and has been measured as the easiest to do business in the world.

Our collective mindset about making wealth are on those very concrete measures just fine.

The reality is that in New Zealand you are in the top 10% of wealth if you own a couple of houses, or a whole bunch if you are Mr Fowler.

The top 20% of New Zealand households hold about 69% of New Zealand’s net worth. Europeans as of the last Stats NZ release last year had an individual median net worth at $151,000 and Maori on the same measure $42,000.

That’s why the primary commentary in the Stuff article came from a European guy who owned lots of houses.

Can this degree of inequality be overcome by changing one’s attitude to money?

Perhaps changing one’s attitude to money could also increase one’s chances of making better choices putting items into your charity food parcel.

Or maybe by changing your “money personality” you can make a cornucopia of cash flow into the hands of those lying on our city streets begging.

Which “money personality” demands that over 7% of New Zealander works more than one job?

Liz Koh the money coach believes there is a money personality just for you:

The two key determinants of your money personality are your willingness to take risk and your desire to create wealth. Those who are highly successful at wealth creation are not afraid of risk and have a strong desire to create wealth.”

That’s from the same Stuff article where she agrees with Graeme Fowler the property magnate.

So to summarise, New Zealanders are globally exceptionally entrepreneurial and hard working as a people, are the easiest country in the world to do business, and yet for Mr Fowler the property magnate apparently our “attitude to wealth” and our “money personality” is keeping New Zealand’s poor very poor and the rich very very rich.

New Zealand’s reality, as small state specialist Dr David Skilling reminds us, is one of the smallest, weakest, most distant and least important countries in the world.

Our inventions are agricultural, our thinkers have few followers, our political order and influence miniscule, our corporations don’t grow and conquer. That’s the true “mindset” to address for those property owners who hoard and then preach facile morality.

New Zealand has one of the most unequal economies in the world, its economy reliant on low-value agriculture and real estate and low value tourism. New Zealand’s industries are controlled by a very small set of oligopolies in milk, horticulture, building products, fuel, seafood, ports and airports, shipping, supermarkets, and so much more. The concentration of wealth in New Zealand now is about the same as that of Regency England of the time of Jane Austen. There are pretty sound “money languages” for all of that, none of which are described by Mr Fowler.

The total number of people who control our wealth could fit into the Paeroa Horse Racing stands with several rows left over.

Actual class and economic mobility is decreasing in New Zealand, and it’s under study.

Inequality in wealth in New Zealand is not caused by a ‘mindset’.

They are not going to be cured by changing one’s ‘money personality’.

Though it is quite likely if you are rich enough and stupid enough your mindset and your personality will tell you how much you deserved it no matter what you did.

The people like Graeme Fowler claiming that they are, are simply cynical entitled assholes.

48 comments on “Your Mindset and Your Money ”

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  1. Drowsy M. Kram 1
    18 January 2023 at 2:09 pm

    Thanks for an eye-opening post – it's good that nice Mr Fowler has such laudable goals.

    Assuming all Kiwis want and are to be 'wealthy', where does Fowler imagine the extra 45+ plates, or the tens of millions of rental properties, are going to come from?


    https://thespinoff.co.nz/society/16-08-2022/the-side-eyes-two-new-zealands-the-table

  2. SPC 2
    18 January 2023 at 2:35 pm

    I am not surprised to see such an apologetic, given we have rebuilt the class system down under.

    More people now own their homes in the UK than in New Zealand, and while the rate is rising there, it is still falling here.

  3. bwaghorn 3
    18 January 2023 at 3:06 pm

    I think instead of rubbishong the guy and pulling out the poor Maori card, pick through it for the obvious lessons , educating students on money and finance would help.

    Mindste is part of it, I've missed a couple of opportunities because fear took over, and failed miserable financially due to not being taught basic money sense.

    Thank God for Saint cullens kiwisaver as in 10 years it got me to halfway of the average Joe's wealth.

    • Jimmy 3.1
      18 January 2023 at 4:18 pm

      I definitely think educating school children about money / difference between debit and credit cards and best ways to use them/ budgeting / mortgages / Kiwi saver etc. should be compulsory at school. That way when they go out in to the world they at least have a basic understanding of finance.

    • BAW 3.2
      19 January 2023 at 12:29 pm

      Nat voter here.

      Kiwisaver was the best policy of the 5th Labour Government.

      My wishlist to Labour – change the minimum wage laws so all workers get a payment to Kiwisaver.

      • bwaghorn 3.2.1
        20 January 2023 at 1:29 pm

        Have you ever noticed it usually the left that makes things better,the right being conservative hate it until it sinks in .

  4. tsmithfield 4
    18 January 2023 at 3:18 pm

    A friend of mine (who died a few years back) had made himself extremely wealthy largely through mindset. I will explain how at the end of this post.

    He had a goal to be retired by the age of 30, which he achieved. His definition of retirement was, that retirement means you work because you want to work, not because you have to work.

    He had started doing a computer degree at Uni after leaving school in his teens, but at the same time was working full-time at the freezing works, using notes from friends to do the Uni work (he was extremely bright).

    He built up enough deposit to purchase his first commercial property a year or two later, and then geared up on the existing property to purchase another as the tenant paid off the loan, and the value of the property increased.

    At the time of his death, I think he owned around 10 commercial properties that were paid off. So, he had huge amounts of rent rolling in to his bank account. Plus he had done very well on the share market.

    The sad thing is, he never really enjoyed his wealth. It was almost like he had a mental sickness. For instance, he would walk down to the library to read the paper rather than purchase one, still had his Datsun 120y which he had purchased new back in the 70s, and which he ended up deregistering because he thought he could just bus everywhere. And, he used to wear old jerseys with torn sleaves etc.

    The outward appearance was that he was a bit of a hobo, when in fact he was worth millions.

    When he developed symptoms of his illness, which turned out to be liver cancer, his doctor could have offered him a test that would have uncovered the issue much earlier. But, the doctor didn't offer it because he assumed my friend wouldn't be able to afford it. He was very bitter about that up until the time of his death about 10 years ago.

    The mindset part of how he got wealthy was:

    • He started with a clear vision of where he wanted to get to.
    • He was prepared to do what was necessary to reach his goals.
    • He didn't waste his money on unproductive things.

    He also thought anyone should be able to do what he did. However, I don't think everyone would be willing to live his lifestyle.

    • Jimmy 4.1
      18 January 2023 at 4:06 pm

      Smart man did well for himself. Sad that he did not get to enjoy the fruits of his labor. I can admire a person like that who sets goals and plans to achieve them and takes the initial risk.

      • tsmithfield 4.1.1
        18 January 2023 at 4:55 pm

        Yep, even when he was dying he didn't do anything with his wealth.

        For him, making money was more like a game. He got pleasure from making the money rather than spending it.

    • solkta 4.2
      18 January 2023 at 4:28 pm

      So from savings after living costs from three years working in a freezing works plus a year or two of what ever he did after that he saved enough for a deposit on a commercial property? I call bullshit on that. Did you leave out some of the story?

      • tsmithfield 4.2.1
        18 January 2023 at 4:46 pm

        No. The deposit required back then was only about 10%. It would be much harder to do that with commercial property these days because the banks want about 40% now, mainly due to banks losing money on commercial property due to a sharemarket crash or two in between times.

        But, it would be more doable with residential property.

        And he started with a fairly average property.

        And, as you can see from my first post, he wasn’t prone to spending much money.

        He much preferred commercial property though because the yeild tended to be better, and costs such as rates and insurance are covered by the tenant.

        • solkta 4.2.1.1
          18 January 2023 at 5:10 pm

          I still call bullshit. Did you leave out living at home with wealthy parents? Help with the deposit?

          • tsmithfield 4.2.1.1.1
            18 January 2023 at 5:17 pm

            His parents were average. We all lived in the same town in Rangiora back then. So, I knew them fairly well.

            He was just highly motivated. II don't know if he was paying board to his parents or not.

            But, the Freezing works did pay quite well back then, and I think he paid about $120k for the property. So, at 10% deposit on that would have been about $12k saved over three years.

            I often used to drive past him as he was biking from Rangiora to Kaiapoi each days (probably around 15ks). So, he definitely wasn't spending much of his money.

        • Descendant Of Smith 4.2.1.2
          18 January 2023 at 5:15 pm

          Unless he had a family back then he may not have been able to get residential mortgage. Commercial in fact have been his only option.

  6. Tony Parker 6
    18 January 2023 at 4:23 pm

    I think this response from Emily Writes sums it up.

  7. gsays 7
    18 January 2023 at 4:30 pm

    Mindset, a wonderful euphemism for feeling guilt free for having a bigger share of the pie when others will have to make-do with less.

  8. tsmithfield 8
    18 January 2023 at 5:00 pm

    Rich people who live poor, as I described my friend above, are not particularly unusual.

    A lot of these people get rich by being wise and frugal with their money. I think it can end up becoming a life habit for them, despite the wealth.

  9. Descendant Of Smith 9
    18 January 2023 at 5:12 pm

    You can argue it is true to a small extent. I certainly could have been very wealthy if I had wanted to through generous offers of property in the 80's from neighbours and friends who were selling up. However philosophically I'm committed to the notion that you only need one house to live in and that I will never live off the efforts of someone else's labour through rent and I declined all those offers – and some were very generous.

    So yep that is a mindset.

    I could be earning a lot more, and in fact have done, if I hadn't stood up to injustice in various workplaces that resulted in non-promotion, dismissal and demotion. That is a mindset. Or I could have not had kids, or not wasted my hours playing cricket and rugby, or not get married and so on. Doing those things are too a matter of choice and mindset.

    What he says is a simple truism that is almost sociopathic in nature and conveniently ignores a lot of reality as well.

    I have family members who have done and could be earning a lot more now if they hadn't been raped by men and had to spend – and are spending years in recovering both physically and mentally. Same goes for those that have had serious accidents. I have very well off family who have had seven inheritances including from spinster and war-widowed aunts. I have family who were dispossessed of their land by the state and others who were institutionalised. I have some that were born in isolated areas with few jobs and others born in productive urban areas and others who were left to raise young families after their husbands were killed in car accidents..

    Equally brains are clearly different – some of us are good at maths and language – others struggle with it but can pull a car engine apart and put it back together. Others have intellectual disabilities and mental health issues..

    The reality of peoples lives has had a much greater impact on who in my family is wealthy and who is not compared to the miniscule influence of mindset.

    This without even considering more strongly genetics vs nurture and structural societal systems favouring predominantly white males (past and present).

  10. barry 10
    18 January 2023 at 5:48 pm

    So a rich guy notices, that one's attitude to money is influenced by how much or little of it one has.

    If you have nothing then money is purely a means of getting the necessary for survival.

    If you have enough you might think about saving for retirement.

    If you are rich then naturally money is something you invest.

  11. pat 11
    18 January 2023 at 5:57 pm

    Success to the successful…nothing new there….and nothing permanent either

    • Descendant Of Smith 11.1
      18 January 2023 at 6:09 pm

      Is having lots of money the measure of success?

      • pat 11.1.1
        18 January 2023 at 6:53 pm

        In our current paradigm, yes….whether we agree with the measure or not.

        And we are all inclined to it….we dont deliberately buy products we know are inferior, nor do we engage services we know are substandard….at least we dont after the initial mistake.

        • Descendant Of Smith 11.1.1.1
          18 January 2023 at 7:26 pm

          Most don't have those choices and the market well knows it can make more money off selling inferior product to poor people than it can selling quality product. Many people every day buy inferior goods because it is all than can afford – and well they know it.

          Terry Pratchett's boots theory sums this up perfectly.

          The "boots theory" comes from a simple piece of dialogue in Pratchett’s 1993 novel "Men at Arms." The book features a City Watch commander named Capt. Samuel Vimes. The captain is set to marry one of the richest women in the world, and he often opines about the differences between low-status and high-status spending habits.

          At one point in the story, the captain ruminates:

          The reason that the rich were so rich…was because they managed to spend less money.

          In reference to the captain, the quote continues:

          "Take boots, for example. He earned $38 a month plus allowances. A really good pair of leather boots cost $50. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about $10.

          "Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

          "But the thing was that good boots lasted for years and years. A man who could afford $50 had a pair of boots that'd still be keeping his feet dry in 10 years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet."

          This was Capt. Samuel Vimes' boots theory of socioeconomic unfairness.

          .

        • pat 11.1.1.2
          18 January 2023 at 10:21 pm

          Conversely "boots theory" proves the opposite….the quality goods are not successful (due in the given instance, to price) and therefore do not proliferate.

          The fact they are perceived as unaffordable is the failure….aka unsuccessful,

          • Descendant Of Smith 11.1.1.2.1
            19 January 2023 at 9:29 am

            Yeah because a free and balanced consumer informed supply and demand market rather than conscious deliberate maximum profit making seeking strategy drives pricing.

            • pat 11.1.1.2.1.1
              19 January 2023 at 9:37 am

              AKA economies of scale.

              • Descendant Of Smith …
                19 January 2023 at 1:22 pm

                lol.

                You know I was referring to this sort of behaviour.

                "Think about pricing. What has every telco in the world done in the past? It's used confusion as its chief marketing tool. And that's fine," said Gattung in a speech recorded on March 20.

                "You could argue that that's how all of us keep calling prices up and get those revenues, high-margin businesses, keep them going for a lot longer than would have been the case.

                "But at some level, whether they consciously articulate or not, customers know that's what the game has been. They know we're not being straight up."

      • tsmithfield 11.1.2
        18 January 2023 at 8:10 pm

        “Is having lots of money the measure of success?”

        I don't think it is the greatest measure of success at all. Wealth is obviously a measure of financial success. But I don't think that is the most important thing in life at all.

        I think the greatest measure of success is how people do in their relationships, how they bring up their children, and what they can input into the lives of others.

        If wealth comes with that, then great. And some people do seem to be gifted in accumulating wealth.

  12. Mike the Lefty 12
    18 January 2023 at 6:27 pm

    My Dad always used to say: "You can't make an honest million".

    Allow for inflation and you could say: "You can't make an honest billion".

    He was right.

    People don't get rich from working hard.

    They get rich by ripping off other people but of course they always deny that they do that.

  13. tWiggle 13
    18 January 2023 at 7:03 pm

    When I was a teenager in Wellie in the 70s, Bob Jones was considered a bit of a cheat as an entrepreneur, as he did nothing concrete or creative to make his pile. He established no factories and opened no new export opportunities, created no new jobs. He just sat on his bum planning his speculation portfolio.

    Somehow since then, speculation has become confused with entrepreneurship. Land speculation sucks capital away from truly entrepreneurial companies and drives rent and land inflation. A loss for creative companies, a loss for the country and a loss for us. Fowler and Bob Jones are no capitalist heroes, just scrooges.

    [Please use the correct e-mail address in your next comment, thanks – Incognito]

  14. tsmithfield 14
    18 January 2023 at 7:27 pm

    People often think that wealthy people have some huge starting advantage over others, such as inherited wealth or whatever.

    However, I think the reason for the mindset suggestion from the rich guy mentioned in the article, is that this often isn't the case.

    I have already pointed out my friend who built up a deposit for his first commercial building by working in the freezing works for three years after leaving school.

    Now I want to talk about one of my sons.

    My son left school quite early as that didn't really suit him. He worked in several jobs, and ended up working for a powder coating firm.

    The guy who was running the business was hopeless at business and should probably have never been a businessman. My son had a number of good ideas that would have helped the guy succeed. But his problem was that he was too far gone at that point, and ended up going bankrupt.

    Another guy had a lease to buy arrangement over the equipment of the business. He could see my son (19 at the time) had some good clues, and was a good worker. So, he offered my son to take over the finance arrangement on the equipment.

    We also knew our son had a lot of great qualities. So, we helped him out with $20k for working capital. Not nearly enough. But, anyway, he launched out in his own business at the age of 19.

    He had a couple of really hard years where he wondered if he was going to make it. But, now, 10 years on, he has an incredibly profitable business, around $750k sitting in his company bank account, is debt free, and a house in a new subdivision.

    One key to his success is that he realised that price wasn't the critical factor in that type of business. The powder coating cost is normally a small fraction of the cost for a customer. Customers tend to be much more concerned that the powder doesn't flake off, and that they can get their work back when they need it.

    So, my son focussed on job quality, and him and his team occasionally worked through the night to get an order out for a customer.

    Now he has major difficulty fitting in all the work. He is taking over the lease on the next door building and is expanding. He pays his staff incredibly well for the industry they are in, and pays them large end of year bonuses.

    In my son's case, admittedly, he did have a small amount of help from us. But, key to his success was a bit of luck, vision, determination and stickability, and a strong focus on customer satisfaction.

    • Muttonbird 14.1
      18 January 2023 at 7:43 pm

      Your whole comment falls to pieces after claiming success is not dependent on starting advantage, then admitting you did provide starting advantage.

      What seems a small amount of help to you is not possible for most of the population, both in terms of "inherited wealth or whatever", and the ability to recognise an opportunity.

      This is an issue of self awareness on your part and the rest is simply virtue signalling. I think awareness is one of the main qualities right wing people seriously lack.

      • tsmithfield 14.1.1
        18 January 2023 at 7:56 pm

        But it wasn't the determining factor of his success. Perhaps he would have found another way if we hadn't helped. Its not like we gave him millions or anything. Most of the success was down to him.

        And, as far as I know, my friend who built up a large property portfolio didn’t have help from anyone.

        I don't think that this sort of outcome is possible for everyone. Some people have so much dysfunction in their lives that it is a major inhibition to their success. Other people just don't have such an opportunity fall in their laps, and others are too cautious to take up the opportunity if it does come along.

        But I think it is a valid point that it is a lot more to financial success than inherited wealth or whatever. People who start off like that tend to be arseholes, and are often likely to lose it all because they have never had to work for it.

        • roblogic 14.1.1.1
          19 January 2023 at 12:47 pm

          The are other forms of advantage – like a supportive family, good health, socialised in good values, being white, social networks, success in relationships, security from thieves

          • tsmithfield 14.1.1.1.1
            19 January 2023 at 12:58 pm

            You are assuming being white… but that is true.

            As I pointed out below though, people achieve in lots of areas by overcoming all sorts of obstacles, including not being able to read or write as I pointed out below.

            Sure, it is hard, and probably a lot more fail than succeed. But, I guess the point I am trying to make is that we shouldn't place limits on people and end up holding them captive to their disadvantages.

            There is a balance to be struck between that and supporting people in their difficulties.

  15. Sanctuary 15
    19 January 2023 at 8:13 am

    The only thing I would observe is that in my opinion it is a bit of a myth that New Zealand is one of the most entrepreneurial countries in the world. Our regulatory environment might support this view but the reality is most New Zealanders would see Graeme Fowler as the type of "entrepreneur" they would wish to emulate.

    The chief aim of NZ settler capitalism is to be a rent seeker and speculator, make your fortune, then retire to wherever suits your tastes within the rich world to enjoy your rentier income in the style of the absentee landlord and vulgar nouveau aristocratic class everywhere.

    Certainly, going to bank in NZ and asking for an unsecured loan for an idea you have would more likely see the bank calling security to escort you from the premises than them giving you the loan.

    It is a colonial mindset we simply haven't yet escaped in this country – extract wealth, retire to the mother country. Graeme Fowler is an absolute poster child for this new class of parasitic, rent seeking wannabe aristocrats that was spawned by neoliberalism.

  16. Jenny are we there yet 16
    19 January 2023 at 8:26 am

    Man with 80 houses: Capital Gains Tax will hurt renters

    Cos’ he has the mindset and the ‘personality’ and all the power.

    He will make sure it will.

    Bring back the Anti-Eviction League. Get some power back

    https://paperspast.natlib.govt.nz/newspapers/THD19311015.2.78

    • Jenny are we there yet 16.1
      19 January 2023 at 7:30 pm

      EVICTION RESISTANCE – refusing to leave the home when the landlord ends the tenancy – is a strategy used by tenants worldwide both to enable them to keep their housing in the short or long term and to send a message to policymakers about the importance of improving rental conditions. This article chronicles and analyses eviction resistance during the Depression in New Zealand. Eviction resistance ranged from crowds that gathered to support evicted people to carefully organized pickets……

      https://lhp.org.nz/wp-content/uploads/2022/07/03_Chisholm-Article.pdf

      "…..to send a message to policymakers about the importance of improving rental conditions."

      And send a message they did.

  17. Mike the Lefty 17
    19 January 2023 at 9:55 am

    Graham Fowler's mindset is that there is nothing more important than money.

    Sad!

  18. tsmithfield 18
    19 January 2023 at 10:11 am

    Another example is one of our clients who we used to build Sphagnum Moss Packing machines for a number of years ago, Les Sutton. I understand he has died now.

    Les owned his company, and was very proud of the fact that he had made himself rich despite being unable to read or write. He overcame this limitation by employing people who could compensate for his weaknesses.

    This is another example that shows that mindset is a big factor in whether people can achieve financially or in any area. Sometimes people with many serious disadvantages that could undermine their self-belief can actually achieve far higher than what many would expect.

    I am giving these examples as an encouragement more than anything else. Not just in the financial aspect, but for any area people are wanting to achieve in.

    That is, that people shouldn't just accept the die is cast for them, and they have no hope of achieving. People often can achieve a lot more than they think.

  19. Scott 19
    20 January 2023 at 3:55 pm

    I do think that attitude is important to success.

    My father taught me and my brothers to set goal for each area of our lives.

    The best money advice he gave was to say that we had two options

    1) We could trade our time for money, or

    2)We could trade money for time

    • KJT 19.1
      20 January 2023 at 4:25 pm

      True to an extent.

      But the reason most of those who are poor, remain poor is they have neither money, nor time available.

      And for those that have there is still a huge element of luck, unless they have had the, also lucky, benefit of inheriting enough money to have several attempts at a successful business, or to simply collect economic rents.

      Do you think the more than 4 out of 5 attempts at entrepreneurship that fail, are all because they "have the wrong mindset"?

      • Scott 19.1.1
        20 January 2023 at 6:01 pm

        I think that businesses fail through inexperience and a lack of knowledge most often.

        The mindset is to give it a go. Always very positive initially.

        You don't always win but you always learn.

        Most entrepreneurs have failures- I certainly have. But the key is to have a plan and not allow failure to destroy you so you can bounce back.

        • KJT 19.1.1.1
          21 January 2023 at 8:53 pm

          Most people do not have the money or resources to bounce back.

          I did several times. But I was lucky enough to have a good combination of various highly in demand skill sets, courtesy of 1970's education and apprenticeship systems, even though I didn't have much money capital behind me.

          I see the the lack of resources, jobs and training, , available to people of moderate to low incomes more recently, and the miserly benefits and the forcing of people into the first low hours, low paid job available. I am not surprised that "bouncing back" is totally out of their reach.

          • Scott 19.1.1.1.1
            24 January 2023 at 12:17 pm

            Yes agree that many people whose plan fails bet the farm and can't try again.

            I have helped (mainly) young people begin over 100 small businesses over the last 30 years and loved it. Many had little education and no financial resource. Some were on the Police diversion scheme.

            I've learned that capitalism does not necessarily require capital

            Some of those businesses have grown into substantial operations.

            My advice to most young people is to get a job in a mid size company and learn how a business works. A couple of promotions and you get to make mistakes with someone elses money.

            Then develop a plan. Test and measure as much as possible.

            Begin slowly and try to keep your paid job for as long as possible.

            Most people thrive in the process of starting, running and growing their own business. The beginning is often the most stressful period and some choose to go back to working for someone else – which is fine.

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    21 hours ago

  • Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
    Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong.   Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
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    1 day ago

  • PMs Luxon and Lee deepen Singapore-NZ ties
    Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong.  During today’s meeting, Prime Minister Luxon ...
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    1 day ago

  • Antarctica New Zealand Board appointments
    Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner.  The Minister has appointed Neville Harris as a new member of the Board. Mr ...
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    1 day ago

  • Finance Minister travels to Washington DC
    Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom.  “I am looking forward to meeting with our Five Finance partners on how we can work ...
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    1 day ago

  • Pet bonds a win/win for renters and landlords
    The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
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    1 day ago

  • Long Tunnel for SH1 Wellington being considered
    State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
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    2 days ago

  • New Zealand condemns Iranian strikes
    Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel.    “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says.    "We are deeply concerned that miscalculation on any side could ...
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    2 days ago

  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
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    4 days ago

  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
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    4 days ago

  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
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    5 days ago

  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
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    5 days ago

  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
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    5 days ago

  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
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    5 days ago

  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
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    5 days ago

  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
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    5 days ago

  • NZ and US to undertake further practical Pacific cooperation
    Foreign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research.   “New Zealand can achieve more in the Pacific if we work together more urgently and ...
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    5 days ago

  • Government redress for Te Korowai o Wainuiārua
    The Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...
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    5 days ago

  • Focus on outstanding minerals permit applications
    New Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says.  “While there are no set timeframes for ...
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    5 days ago

  • Applications open for NZ-Ireland Research Call
    The New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...
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    6 days ago

  • Tenancy rules changes to improve rental market
    The coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...
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    6 days ago

  • Boosting NZ’s trade and agricultural relationship with China
    Trade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...
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    6 days ago

  • Freshwater farm plan systems to be improved
    The coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...
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    7 days ago

  • New Fast Track Projects advisory group named
    The coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...
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    7 days ago

  • Pacific and Gaza focus of UN talks
    Foreign Minister Winston Peters says his official talks with the United Nations Secretary-General Antonio Guterres in New York today focused on a shared commitment to partnering with the Pacific Islands region and a common concern about the humanitarian catastrophe in Gaza.    “Small states in the Pacific rely on collective ...
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    7 days ago

  • Government honours Taranaki Maunga deal
    The Government is honouring commitments made to Taranaki iwi with the Te Pire Whakatupua mō Te Kāhui Tupua/Taranaki Maunga Collective Redress Bill passing its first reading Parliament today, Treaty Negotiations Minister Paul Goldsmith says. “This Bill addresses the commitment the Crown made to the eight iwi of Taranaki to negotiate ...
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    1 week ago

  • Enhanced partnership to reduce agricultural emissions
    The Government and four further companies are together committing an additional $18 million towards AgriZeroNZ to boost New Zealand’s efforts to reduce agricultural emissions. Agriculture Minister Todd McClay says the strength of the New Zealand economy relies on us getting effective and affordable emission reduction solutions for New Zealand. “The ...
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    1 week ago

  • 110km/h limit proposed for Kāpiti Expressway
    Transport Minister Simeon Brown has welcomed news the NZ Transport Agency (NZTA) will begin consultation this month on raising speed limits for the Kāpiti Expressway to 110km/h. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy and this proposal supports that outcome ...
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    1 week ago

  • New Zealand Biosecurity Awards – Winners announced
    Two New Zealanders who’ve used their unique skills to help fight the exotic caulerpa seaweed are this year’s Biosecurity Awards Supreme Winners, says Biosecurity Minister Andrew Hoggard. “Strong biosecurity is vital and underpins the whole New Zealand economy and our native flora and fauna. These awards celebrate all those in ...
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    1 week ago

  • Attendance action plan to lift student attendance rates
    The Government is taking action to address the truancy crisis and raise attendance by delivering the attendance action plan, Associate Education Minister David Seymour announced today.   New Zealand attendance rates are low by national and international standards. Regular attendance, defined as being in school over 90 per cent of the ...
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    1 week ago

  • World must act to halt Gaza catastrophe – Peters
    Foreign Minister Winston Peters has told the United Nations General Assembly (UNGA) in New York today that an immediate ceasefire is needed in Gaza to halt the ongoing humanitarian catastrophe.    “Palestinian civilians continue to bear the brunt of Israel’s military actions,” Mr Peters said in his speech to a ...
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    1 week ago

  • Speech to United Nations General Assembly: 66th plenary meeting, 78th session
    Mr President,   The situation in Gaza is an utter catastrophe.   New Zealand condemns Hamas for its heinous terrorist attacks on 7 October and since, including its barbaric violations of women and children. All of us here must demand that Hamas release all remaining hostages immediately.   At the ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government woolshed roadshow kicks off
    Today the Government Agriculture Ministers started their national woolshed roadshow, kicking off in the Wairarapa. Agriculture Minister Todd McClay said it has been a tough time for farmers over the past few years. The sector has faced high domestic inflation rates, high interest rates, adverse weather events, and increasing farm ...
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    1 week ago

  • PM heads to Singapore, Thailand, and Philippines
    Prime Minister Christopher Luxon will travel to Singapore, Thailand and the Philippines this week (April 14-20), along with a senior business delegation, signalling the Government’s commitment to deepen New Zealand’s international engagement, especially our relationships in South East Asia. “South East Asia is a region that is more crucial than ever to ...
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    1 week ago

  • Prime Minister launches Government Targets
    Prime Minister Christopher Luxon has announced further steps to get New Zealand back on track, launching nine ambitious Government Targets to help improve the lives of New Zealanders. “Our Government has a plan that is focused on three key promises we made to New Zealanders – to rebuild the economy, ...
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    1 week ago

  • Natural hydrogen resource should be free of Treaty claims entanglement
    Natural hydrogen could be a game-changing new source of energy for New Zealand but it is essential it is treated as a critical development that benefits all New Zealanders, Resources Minister Shane Jones says. Mr Jones is seeking to give regulatory certainty for those keen to develop natural, or geological, ...
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    1 week ago

  • Government responds to unsustainable net migration
    ...
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    1 week ago

  • New Zealand on stage at global Space Symposium
    Space Minister Judith Collins will speak at the Space Symposium in the United States next week, promoting New Zealand’s rapidly growing place in the sector as we work to rebuild the economy. “As one of the largest global space events, attended by more than 10,000 business and government representatives from ...
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    1 week ago

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