December 22, 2024 • 40 mins
Martins Hawes joins Tim Beveridge to discuss whether cash is a good idea for Christmas gifts, and this week's disappointing GDP announcement.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks.
Speaker 2 (00:09):
It'd be news has come out in the First World War,
Bundy Red Barrens flying once more, the Aled commands ignore.
Speaker 3 (00:20):
All of his men and call it on.
Speaker 2 (00:22):
Snoopy to it again? What was the name for Christmas?
Speaker 4 (00:27):
For in Budo?
Speaker 1 (00:29):
Snoopy went up The searcher is follow smart Red Barn serious.
Speaker 5 (00:35):
Then I saw on his weeks gone and yes, welcome
back to the far layer of the Weekend Collective for
this year twenty twenty four and Snoopyes, Christmas. Yeah, i'd
still it's still struggling to make the list for me,
the old Snoopies Christmas, I'd say, But anyway, you can't
(00:56):
win them all, can you. My producer Tyra loves it
and she's looking happy there. So anyway, hey, welcome, This
is Smart Money and my guest for the final show,
Isinancial author. I've lost count of how many books I
always lose counter aw many books because it's a lot.
But it's Martin Haaugh's Gooday Martin, how are you?
Speaker 2 (01:11):
Yeah? Hi there? When did Snoopy first come out? I
would have said it was probably fifty years ago.
Speaker 5 (01:17):
Snoopy is Christmas.
Speaker 2 (01:18):
I Snoopy the cartoonyh Snoopy's No, Snoopy's Christmas. I mean
I heard it. I heard in the shopping mall today,
and I thought, my god, I'm going to go.
Speaker 5 (01:26):
With Oh my goodness, I was I thought you were bonkers.
I was thinking maybe early eighties, late seventies. It's nineteen
sixty seven, yeah, song, it's fifty what's that make it
fifty seven years old?
Speaker 2 (01:43):
Yep?
Speaker 5 (01:44):
Oh my goodness. Have you got any favorite bangers on
the Christmas music front?
Speaker 2 (01:49):
No, I haven't done the certainly wouldn't be like that either,
but yeah, no. I heard it in the shopping mall
today when I was some wandering around Maravale, actually, and
I couldn't believe it because I was sure that that
could come out when I was a teenager.
Speaker 5 (02:05):
Well, you're possibly right, although you would have been a
bit younger than that in sixty seven. When I'm just
throwing a shallow compliment your way there, Martin, Have you
done it Christmas shopping?
Speaker 2 (02:16):
I have all done, all done at one shop?
Speaker 5 (02:21):
Really?
Speaker 2 (02:22):
Yeah, I think.
Speaker 5 (02:24):
You can tell us what's shot because that might give
it away.
Speaker 2 (02:27):
I can No, it doesn't give it away. Because I've
told my both my children and my grandchildren that the
only gifts I'm buying from now on for Christmas and
their birthdays. Here's the grunch our books.
Speaker 5 (02:42):
Nownchy, what's wrong with the book?
Speaker 2 (02:45):
The small the smaller kids often have a little bit
of money put in the in the book as well,
and just you know, so they buy some toys. But
I was sick of Well, first of all, you know,
both the kids and the grandchildren, they kind of have
everything they want. Yeah, And I think good gift gift
(03:07):
buying is about wandering around in the shops thinking of
the person and thinking what they would like. So I've
just narrowed the universe down. If you like to only books,
You've still got to think a lot about Now, what
would this individual like? Would they like that book? Would
they like? You know? So there's still a lot of dithering.
Speaker 5 (03:27):
How do you slip a fifty dollars an O or
a twenty dollars night between the pages? Exactly?
Speaker 2 (03:31):
Yep, yep. And so they know now that that's coming.
Speaker 5 (03:37):
As soon as they get the book. They're not actually
previewing the book. They're thumbing the pages to see what
falls out. Course, of course, oh, fantastic. Actually, you're right
about the gift giving. By the way, look this is
our final hour. We going to talk about money, and
we've probably got a couple of grim things to talk
about when we look ahead to twenty twenty five, unless
we're going to be optimistic. But if there's something you'd
(03:58):
like to share with us about how you're spending your
money at Christmas and how you're budgeting for Christmas presents
and the approach you take. I, Martin, I don't think
that you've said you're a bit grinchy with giving books.
I would say there be a lot of people, whether
they be parents or educators whatever, be thinking bravo for
Martin Hawes. Books are fantastic.
Speaker 2 (04:19):
Yeah, I think they are.
Speaker 6 (04:21):
They.
Speaker 2 (04:22):
I mean the kids are certainly the bigger the grandchildren
and my own children would certainly be. You know, they
probably read off the screen mostly if they're reading books
at all, and these are of course hard copy books
that they're getting with some money in a little but
(04:44):
the grandchildren and particularly well particularly my two sporty ones,
for about five years, all I would do was give
them a Rebel sports voucher and they knew that was coming,
and because they were so much into sport and spent
so money, much money in sports shop and particularly rebel sports.
It was kind of like currency to them. You know,
(05:05):
it might have been a bank park and I don't
like sort of giving banknotes as the main as the
main thing. And this this year, I'm going to give
each of the children a very small, like two sentence
lecture on the book, just something like do me a
favor please and read the first twenty pages. If you
(05:26):
do that and you don't like it, you know, give
it away.
Speaker 5 (05:30):
Like the book, I.
Speaker 2 (05:32):
Think about the individual and you know, the the time
goes goes for it. Scorpio books here in questions that
extremely well. Now they give their gift wrap them and
I'm a hopeless gift wrapper. So that's that's a big thing.
But if you look at my Christmas tree, it's got
just a whole lot of all the same wrapping and
(05:52):
oblong shapes scattered around the because it's only books.
Speaker 5 (05:58):
Actually, you I think, actually I'm giving you a constant
bouquet here, but I think you can buy and I
think a great idea one. You're giving them a gift,
You're giving them a little bit of cash to spend
but you are giving them something that you put some
thought into. And you know how they say the thought
that counts, which is usually an excuse given when you've
given someone a crappy present, but it genuinely is the
(06:21):
thought that counts.
Speaker 2 (06:22):
There it is. I think gift giving is about thinking
of the person and matching the person to some item.
And as I said before, I've just sort of squeezed
the universe down a little bit and said it's only books,
but you've still got to get that matching because I think,
you know, if I gave if I gave the eight
(06:43):
year old grandson a book on cooking, you know, we'll
just go straight into the rubbish after they've picked out
the fifty old of course, so there's still there's still
quite an art. I think there is an art to
give giving.
Speaker 5 (07:04):
The other thing that you touched on there, you mentioned
Scorpio Books, which is obviously specialist bookseller down in christ Church,
and actually I think we've got a few specialist book
places in Auckland as well. One of the ones I've
been to is Unity Books. But of course actually books
are incredibly good value. When I was looking at buying
(07:24):
a book and given in the way here, but I
have got my family aunt listen, now I'll be safe.
But it's amazing. One you go into a specialist bookstore
and they love books, and they love they know their audience.
They know what's interesting or different rather than just here's
the latest release and such and such. And I just think,
and it's amazing. And I know that money. Everyone has
(07:47):
a different perspective on what's expensive, but I think that
you can get a hell of a lot of value
for money with books because some of the beautifully presented
hardback books I've looked at and you say how much
and they say, what's fifty nine to ninety five? I
think that that's, you know, for the presentation that getting.
There's a lot of value to be gotten booked in
specialist bookstores.
Speaker 2 (08:09):
Yes, And it's the people in there that are so
good as well. And you know, Scorpio were absolutely fantastic.
They tolerated me. I bought about twelve books or something,
so I spent a for a bit of money. But
then I walked into wit Calls today and wandered around
that and I thought I could have done exactly the same.
Fact I will do exactly the same next Christmas. Just
(08:32):
by going into wit calls or paper Plus or whoever else,
and the people and wik calls, I'd have to say,
knew what they were talking about as well a couple
couple of other books in their toes.
Speaker 5 (08:44):
I don't mean to exclude the other other retailers as well.
It was just I just remember thinking how helpful the
people who work in the book worked in those stores
were exactly Actually, we we'll take your calls on this.
I've got another topic that just crept up in the
middle of what you were saying, and it's to do
with it's to do with cash, and you just reminded
(09:08):
me how much I don't of course for international gifts
the Praisi card, the digital sort of currency, but I
quite like for Christmas, I hate Praisie cards. You always
forget the pin where you have trouble regesting them, and
then you forget how much is left on it. And
I don't know, I just like, I still think that
(09:31):
there's a role for cash, and especially in the books
when you hide it between the covers.
Speaker 2 (09:35):
Yep. Well, one of the things, one of the reasons
why I'm putting some cash into the grandchildren's and book
books is because I want them to get used to
cash because what they see. You know, if you think
of my eight year old grandson, what he sees as
his mum or his dad going to a counter and
(09:55):
picking out his bank card or his visa card or whatever,
handing it over and that's it, and he doesn't actually
see that his account has step it in. The has
to fix that up at some point in time. And
I think there's a useful exercise as we gradually get
rid of cash. I think it's a useful exercise for
(10:18):
younger children to actually be able to say to their grandchildren, well,
my granddad used to give us cash and we would
take it to the shop and then we would have
to think about what we could afford with this, rather
than taking out a card and just just flashing it.
And fact, not even a card. Now I do most
of my shopping but just presenting my phone, so it's
(10:39):
not even like I'm holding a bit of plastic anymore.
But I think that there's a there's a value of
money thing where it's actually folding notes or coins.
Speaker 5 (10:54):
I think you're almost going too gentle on this. I
think that this. I think that people that were all
losing the idea of what money's worth that if we
had to hand over the cash every time, we might
find we'd say, in fact, I think there have been
some studies on it. I can't draw the hand to
mine straight away. But if people actually have to spend
hard hard currency, yes, it changes their spending habits instantly
(11:17):
because they're like, oh my god, I have that comp
Whereas you know, you go blip and it's all done.
Until unless you're sitting on the breadline between your wages
going in and everything coming out, you're in danger of
not really being aware of how much you're wasting on
just stuff maybe you didn't need.
Speaker 2 (11:35):
No, the damage presents itself later when you go online
and look at your bank account balance. But you know,
so that that one of the grandchildren takes their fifty
dollar note and you know, starts to think, well I
can afford this, and I can afford that. But if
I do that, I can't do this over here a
(11:58):
third thing, and I think that's a very good exercise
for them.
Speaker 5 (12:01):
Yeah, we'd love your calls eight hundred and eighty text
two nine two and people, do you know, I think
it's actually probably more traditionally if I was to think
of the role of grandparents, they were probably possibly more
inclined to give little notes of gifts of money. But
what are the best ways to if you're going to
(12:22):
give money as a gift to someone, what's the way
that you prefer to do it? O eight one hundred
eighty ten eighty Do you go for the presy card
and make sure you write the amount on the back
because sometimes they forget their amount. You've got to call
them up. How much is that Prezzy card worth? So
it's not going to bounce on you at the till?
What do you prefer giving cash or are other things
the best way to do it, such as probably something
(12:45):
that doesn't thrill kids when they get told, look, I've
put some money in your Kiwi Saver. Oh great. But
the question about how you give your money, actually, if
you were going to give I mean, obviously, if you're
giving money for Kiwi Save or trusts and investments or things,
we're probably talking about giving a little more money because
(13:05):
twenty bucks into Kiwi Saber, you'd probably better to give
them the notes, wouldn't you, Martin?
Speaker 2 (13:10):
Yes, and I in lots of ways, I think the
notes are for for the reason that we've talked about before. Now,
I mean I do something else with Kiwisaver, which is
with the four grandchildren, I contribute on a weekly basis
to their Kiwi savers. And also I changed my will
(13:30):
four or five years ago, and each of the grandchildren
will receive a significant amount of money which would make
a sort of half of a house deposit, maybe even
all of a house deposit, depending on where you are.
And but that that money doesn't go to them, It
goes to their Kiwisaver. So that means it's available for
(13:53):
not for retirement, but for their first house, depending on
when I die.
Speaker 5 (13:58):
Do you spence it? Well, given your going rock climbing somewhere,
you know it's not going to happen from old age.
I shouldn't. I can't believe I just joked about that,
but I meant that obviously it's not about you, not
like your ticker is going to give out of you
because you are going rock climbing.
Speaker 2 (14:13):
I think, yeah, yeah, yeah, I do a lot of
rock climbing, open water swimming, mountaineering, so I do a
few risky things. But I'm still aiming today of old age.
Yeah yeah, Well.
Speaker 5 (14:25):
I mean, if you're going to go out then you
know what a wait and go I guess which. By
the way, just before we go to the break, because
where are you going again? Remind me of you going
to France or something?
Speaker 2 (14:33):
Yes, yeah, well I have been to France a couple
of times, rock climbing and so on, and I will
probably go to either France or Greece in this in
twenty twenty five again.
Speaker 5 (14:45):
At this time of the year, of course, because no.
Speaker 2 (14:47):
No, no, no, no, no, no, ye, get out of the question.
You went up, yeah, and go and go rock climbing,
and actually this twenty twenty five, one of the things
I'm thinking of is climbing the matter Horn and the
the Aiga, not the north face of the Aiga, but
one of the other riches on up and that's something
(15:11):
I want to do for a long time. So, you know,
just so, I'm a couple apparently getting no younger, a couple.
Speaker 5 (15:17):
Of great names. They're actually I know we're not talking money.
By the way, is the north face of the Aiga
the one that's sort of yes, that might shorten the
life expectancy for me.
Speaker 2 (15:27):
It wouldn't be capable fair.
Speaker 5 (15:30):
Right, Hey, Look, we want to know how do you
give money to your friends, relatives, grandchildren. What is the
best way to do it? What do you prefer? Actually,
I think that Martin talking about when it comes to
bequeathing money to give it to the grandchildren and key
we save is a very smart mode because it implies
that they well pretty much says you either use this
(15:52):
when you retire or use it to buy your first house,
assuming gavement policy doesn't change, of course, But how do
you give money? Do you prefer cash? Do you prefer
pressy cards? Give us your take on that. On ten
eighty Martin and I are going to also have a
chat about the looking forward to twenty twenty five. I
should probably say looking ahead to twenty twenty five, but
(16:13):
let's not be too pessimistic that we can't also look
forward to it. Give us a call eight hundred and
eighty ten eighty text nine to nine two. It's a
twenty three past five news talk z b.
Speaker 1 (16:25):
Y mean one.
Speaker 5 (16:30):
It is less.
Speaker 6 (16:35):
Mister critch, your bad bananas.
Speaker 5 (16:43):
With the gasy black pears. Your power well does tie
into Christmas because it's a mean one, mister Grunch. But
it's not having me. It's not having me. A hum
along that one so well, I'm gonna mark Tyra out
of ten on that one. I'm going to give you
two because you get two points for at least being
(17:03):
for the Christmas themed. But we going to try harder
for the next break new stalks. They'd be right. We're
talking about money. They'll the best way to give gifts
to your children, your grandchildren, or maybe the other way around,
to your friends or your parents even I don't know.
Eight hundred and eighty ten eighty and cash over the card.
What is the best way to teach your kids about
the value of money? And Martin was saying, and it's
good to give them cash. They spend the cash, they
(17:24):
see the money going out of their hot little hands,
and maybe some change coming back or not. Right, let's
carry on, let's get into it. Should I say Alan, Hello.
Speaker 3 (17:34):
Hello the I want to I do most of my
shopping using a card. But on the other side of
the other side of the deal, I'm looking at the
club scene. And I helped to run at a little
country music club in Oriwa. And we need cash at
(17:57):
the door, five dollars to get in. We need cash
to buy a raffle ticket, we need cash to actually
give bands people a little bit of petrol money, and
all this wonderful stuff about our castless society just does
(18:18):
not work in that scene.
Speaker 5 (18:20):
So yeah, I don't like the idea of a castler society.
I loathe it. What about you on that, Martin?
Speaker 2 (18:26):
Yeah, well I would be the same. I mean, there
are lots of little organizations that even I often think
somebody asked me for a donation in the street or something.
And I'm not thinking of homeless people so much here
as those charitable organizations. But I never have any money
with me anymore. For probably a decade carried cash as
(18:47):
a matter of course. I keep a bit of cash
around the house, but I don't take it with me.
And if I was going to one of your events
out and I doubt that I would have the five
dollars to get in, probably have to go. I wouldn't
get in, just go home.
Speaker 5 (19:01):
Well you might look at them and go your Martin hars.
Speaker 2 (19:05):
One look at me and tell me to go away. Probably.
Speaker 5 (19:09):
Actually that is an interestant point about fund raising as well,
isn't it allan.
Speaker 3 (19:14):
They can expect every little club in the country to
have a poss machine where people can put their card
and then pay their bloody money. It doesn't work that way.
Speaker 5 (19:26):
No, yeah, no, I agree, Alan, I mean I don't
think we'll ever be cashless, will we, Martin? I would
hate to think not.
Speaker 2 (19:35):
I wouldn't say never, but not for a while. I
wouldn't think. I mean, cash has hung around already a
lot longer than many people predicted, say twenty five or
thirty years ago. It's I remember when ZipZaps first came in,
you know, or for credit cards, and then the electronic
(20:00):
machines and such like. People predicted we won't we won't
have and then of course online payments. But it's it's
very difficult for people who are looking for donations, people
who knock on your door looking for you know, I've
probably got enough cash to give them something here.
Speaker 5 (20:18):
No, you can just explain to your grandchildren, sorry, there's
no fifty dollars, and then I gave it to Actually,
that is another topic we can touch on while we're
talking about the whole cash thing, is actually how do
you donate to charities? Because there are some fundraising causes
where they're raising for charities, but not all of the
(20:39):
money you give goes to that charity because the organizations
that are paid to do that sort of thing, And
I think if you want to give money to a charity,
the best way to do it is to go online
and give it directly to charity.
Speaker 2 (20:51):
Yes, when I was on the board and president of
Saved the Children, and we had people on the streets,
but they weren't our people, they were a business. They
were charging a percentage.
Speaker 5 (21:02):
It's percentage in some cases.
Speaker 2 (21:04):
I think it is from memory, and it's far best
to go direct to the charity if you can. So, yeah,
good stuff.
Speaker 5 (21:14):
Hey, let's take some more calls. Where we're up to
is well? Good afternoon, good as.
Speaker 4 (21:21):
How are you going good? I am. I'm a business
owner and I also work for a bank, and so
I've got this sort of conflicting view on this transition
to digital end. You know, as a business owner, it's
really convenient. Your customers can just tap their cards and
quickly process their payment and you can move on to
your next customer and things can flow quickly. But the
(21:43):
merchant fees are a real issue for us. And you know,
I've got to be careful because I work for a bank,
and I understand why banks do charge fees, but I
think customers will move towards whatever is most convenient, and
so eventually even cash will go. I'm still a huge
fan of fashion. I thought it was a good idea
to give cash to kids. But our intrea ages now
(22:05):
and they don't want cash because you know, they didn't
know what to do with it. So they were they
received cash from their grandparents. They're asking mom and dad
to transfer the equivalent funds into their accounts and so
mom and dady and that was the was the physical.
Speaker 5 (22:20):
Cash that they can buy online.
Speaker 4 (22:24):
They're shopping online. It's full theme. We hear that's a
digital future, which is a real pity I think personally.
Speaker 2 (22:33):
Yeah, yeah, Well, one of my pet hates is going
into a coffee bar, for example, and you know, coffee
or six dollars or something, and then they put another
few cents on for bank fees. And it's the only
thing they put another few cents on for. They don't
ask you to contribute, contribute to their electricity bill or
(22:57):
for the cleaner who comes in and cleans the plates later.
It's only bank fees and I loads that. I think
that should be absorbed in it and it should be
a gross price.
Speaker 5 (23:09):
Yeah, I must say I do, and they're like, if
you don't want to pay that two percent, you'll have
to swipe your card. And I think that the banks
are probably a little bit complicit in this too, though,
aren't they, because they I'm not I haven't got on
top of this in terms of right now in my memory,
but I think there are some moves afoot to pressure
banks to stop laying on these fees, aren't there.
Speaker 2 (23:31):
Martin?
Speaker 5 (23:32):
Does that ring a bell with you?
Speaker 2 (23:34):
Yes, you know? I think so. It's the payWave that
I think is most expensive. Now. Well has probably got
a bit of a handle on this. But the merchants,
the cafe owners, they always blame it on the banks.
They say, the bank fees are horrendous on this and
we just have to pass it on. Well, I'd be
saying in coffee, yeah, that's right, I wouldn't.
Speaker 5 (23:58):
I guess what that The awkwardness to them is they
like to say, look at lata is five fifty or
six poce. They don't want to say light a six
dollars sixty three. No, no, no, to be honest, and
I don't think i'd care. I'd just be like, you know,
there it is, that's the price.
Speaker 2 (24:15):
They absorb ale their other costs and the gross price.
It's only bank bank fees.
Speaker 5 (24:22):
Yeah. Actually, on the we'll touch it, tell you what.
We'll touch base on the on the on the outlook
for the economy, and just a moment, we've got some
more course coming in as well. But I think we'll
take the break now. It is sixteen minutes to six
on Well, no, not what am I saying sixteen minutes
to six, It's twenty six minutes to six news Talk.
(24:44):
Sa'd be.
Speaker 2 (24:48):
Dreaming harvel.
Speaker 5 (24:53):
Christmas, just like the one I used to know. Yes,
so that is my producer Tira getting back at me
by playing me because I bagged her choice of the
Grinch at Christmas? So what but a little bit of
a little bit of white Christmas at Christmas time? Indeed,
and by the way, it does. By the way, for
(25:13):
those who think white Christmas is a Northern Hemisphere song, no,
you're dreaming of a white Christmas because you could be
in Hawaii. Hence the Hawaiians at a guitar. I'd steal
guitar in the background. There we go. Anyway, My guest
is Martin Hawes. We're talking about all sorts of things
to do, with giving cash and money at Christmas the
best way to do it and using cash as well.
Speaker 6 (25:30):
Alan, Hello, good, how are you this evening?
Speaker 2 (25:34):
Yeah? Good?
Speaker 5 (25:34):
Thanks?
Speaker 2 (25:35):
Good?
Speaker 6 (25:36):
Hey listen. In my retirement I decided to fill in
a few hours, you know, service stations throughout parts of
New Zealand, and I was for a cash society until
I saw the number of jubious people down about during
the dark hours with bundles of cash, not wanting any trail. Alsoever, yeah,
(26:02):
it's pretty tricky. Also at these stations, people can come
in and pick a rounded number and they can purchase
I can't even recall what it's called now. It's basically
a slip for like online gambling, so they only you
can't gamble more than what your slip's worth.
Speaker 2 (26:22):
Yea.
Speaker 6 (26:24):
Anyway, that's often used as as currency criminal. Yes, And
one of the things that the crim's like about it
is they're not going to get done for having a
whole leap of bits of paper in their pocket. They
also got depending on the alpha they gamble with, they
can get one or three free trials before they cash
(26:46):
the bit of that number in. They don't have to
spend it, if you know what I mean.
Speaker 5 (26:50):
So where are you at with gosh? Do you love
it or hate it?
Speaker 6 (26:56):
Well, on balance, I think I have to hate it
because there's too much damage being done, too many good
people in the protecting these other troops.
Speaker 5 (27:07):
Well that's an interesting perspective.
Speaker 2 (27:09):
Ye.
Speaker 5 (27:09):
Yeah, I wouldn't want to give get rid of cash
just because the criminals use it, though, what about you, Martin?
Speaker 2 (27:15):
No, I you know, I'm very sympathetic to this, and
I do know that you know, cash is watts of
cash is you know, it is what criminals use. And
we never, you know, police do a big bust of
drugs and something like that and they say, am, we
found a million dollars and twenty twenty dollars note bills
or something like that. I wouldn't get rid of cash
(27:37):
simply because of the money laundering, but I am sympathetic.
Speaker 5 (27:41):
It's worth balancing that with the reminding us that cash
was king during that public emergencies and storms and during
the cycling Gabriel power cuts and all that sort of thing.
In fact, it's worth considering how much cash you should
keep on hand, because sometimes I have some on hand
and sometimes I have none, And I haven't got a
(28:02):
firm policy on that, But I'd hate to suddenly need
some form of currency because of you know, power cut
or something.
Speaker 2 (28:10):
I always try to have a bit of cash here
because you know, during the christ Choose quakes, if poss
went down, you couldn't put you couldn't put petrol on
the car. Yeah, because because you couldn't pay for it
with the car, you needed cash to pay for it.
Speaker 5 (28:28):
Hey, when's you? When's your next book coming out?
Speaker 2 (28:30):
By the way, March the something other than twentieth something?
Speaker 5 (28:37):
So are you gonna flick mayor copy?
Speaker 2 (28:40):
Yes? I will, Oh God, absolutely, because I.
Speaker 5 (28:42):
Know what comes in your books. I'll be thumbing through
those pages.
Speaker 2 (28:47):
That's right. I don't I don't think the whole print
run will have Oh no.
Speaker 5 (28:54):
It doesn't have to be the whole print runner anyway. Hey, look,
let's it's been fun talking about cash and giving and
and there's some great ideas I think that there. For
I think your idea about giving kids, if you can
afford it, giving grandchildren a gift into their smart then
into their kisaver is such a legally non complex thing
(29:16):
to do, isn't it. You don't have to worry about
drafting up terms of a trust in things. You just say,
this money to go into such and such as Ki Saver,
and the job is done because if you want to
spend it on their first house.
Speaker 2 (29:28):
Yes, it's just so simple.
Speaker 5 (29:30):
Yeah. And the power of compounding interest is I lived
to regret every day when somebody told me years ago
about the value of compounding interests. But then again, career
as a musicians, you're not always got that spare money
to shove into accounts. Hey, let's talk about twenty twenty
five and the On the more meaty side of things,
(29:51):
we did have a fairly dismal report on the half
yearly fiscal update the HIFU. Are you are you worried
about that from just an investment point of view, Martin,
or do you think there's always a way of sailing
these waters and it's more the government's problem than yours
or mine.
Speaker 2 (30:10):
From an investment point of view, my strategic and long
term at A plan would be to invest money outside
of New Zealand and to invest most particularly in the US.
The US is the is the economic powerhouse of the world,
but even more particularly over the last two or three decades,
(30:34):
it's been the technological powerhouse, and it's been technology it's
been the technology companies that have been done the best.
So from an investment point of view, you know, I
think unlocked the other day, I think something like thirty
five percent of my portfolio is in international equities alone,
the bits and pieces of international bonds and so forth.
(30:56):
I have ten percent in New Zealand's.
Speaker 5 (30:59):
That's sort of in a way putting it putting our
own investment aspirations to one. That does make me feel
worried for New Zealand because if you're thinking like that
and other investment, because what we need is investment in
New Zealand, don't we Because we're not going to tax
our way out of this problem. We have to produce
(31:20):
our way of it, don't we.
Speaker 2 (31:21):
Yes, yes we do, and not so much for twenty
twenty five, but for the long term. I'm very worried
about New Zealand because farming, which is used to be
our biggest industry, is losing its social license. You know,
farmers are feeling squeezed by the work that they have
(31:43):
to do in terms of environmental and so forth. And
I don't think anybody would argue that they shouldn't have
to do that, but there are people who are looking
at animal welfare issues and such like. Tourism is second
biggest industry or second big I think first biggest employer
of people, and that's a very difficult industry because you
(32:07):
simply can't get labor productivity out of tourism. Because somebody
can only make so many beds in a hotel. You know,
machine's not going to do that. Somebody else can only
make so many cups of coffee and so forth. So
tourism is very and it tends to be a bottom
feeding kind of industry. It's not it's not super profitable
(32:30):
or any anything like that. There are two biggest industries
and I can't see a third coming along. Now. I'd
love somebody to dial in and tell me what that
might be. And I look over my commercial career. When
I was importing, and this is going back to the eighties,
(32:51):
we would we were importing from Singapore.
Speaker 5 (32:54):
What were you importing?
Speaker 2 (32:56):
We were importing bartiques and clothing, and one New Zealand
dollar would buy three dollars between Singaporean. Now one New
Zealand dollar will buy eighty Singaporean.
Speaker 5 (33:11):
I had a look for US, bad news for export money.
I guess is it all around?
Speaker 1 (33:15):
Well?
Speaker 2 (33:16):
It just it just shows how much richer they've got
and how we've sort of stayed the same.
Speaker 5 (33:25):
Switched that the wrong way around for a second. So yeah,
I'm with you now. Sorry.
Speaker 2 (33:28):
I look at Ireland. I remember Ireland coming out here
on about the nineteen nineties a whole group from the
their economical Economic Development Unit to get some advice on
how they could get their economy going better. It would
have been the early early nineties. They are now one
of the richest companies in Europe. We are we are languishing.
(33:52):
We don't have another big industry coming on in behind
which is going to provide a good living. I'm not
just meaning a living, a good living for lots of people.
And there were men many reasons.
Speaker 5 (34:06):
A dressing me Martin, you need to cheer me up
with something.
Speaker 2 (34:09):
Well, I think twenty twenty five will be better than
twenty twenty four, if that cheers you up. But still
I still think of the children and the grandchildren and think,
you know, I want them to grow up in this country.
I don't want my grandchildren to graduate and immediately go overseas,
which is what's happening to a lot of people because
(34:30):
other countries are better off. And it's not so much
that it's better off in the sense that they can
buy more plastic bits and pieces. It's that they probably
have bigger lives and just about every respect their education
is better, their health is better. You know. It's those
kinds of things which I'm really concerned about for New Zealand.
(34:52):
We don't seem to be able to address them. We
don't seem to be able to have a political conversation
which doesn't turn into a screaming match, will make no
sense whatever.
Speaker 5 (35:01):
Actually you might not have caught it, but where it
was actually quite heartening to We had a political panel
for our final Politics Hour and I had Lockwoodsmith, the
former Speaker of the House Commission London, together with Helen Clark.
And the level of collegiality that they demonstrated towards just
the topics we talked about into each other was actually
(35:23):
it sort of felt quite retro Then we could have
politicians who might see what mind do They agreed on
quite a few things, to be fair, but who might
see things philosophically a little differently, engaging with each other
in a sort of respectful way. That that and Helen
was talking about that in terms of what we need
to do with infrastructure, a whole lot of our challenges,
and I think that that's one of the things I
(35:43):
would wish for for twenty twenty five, is that we
can find a way of not being so bloody obnoxious
to each other.
Speaker 2 (35:50):
Yeah, but the trend is not going in the right direction,
they tell. I mean, you know, Seymour and Luxe and
are not collegiate collegial with hipkuns and no, well possibly
one moment. No, no, neither. We're just we're just sort
of tearing ourselves to bits and not agreeing on anything
(36:14):
as a society and getting on and trying to do that.
Speaker 5 (36:17):
Just a quick thing, just on back with your financial
hat on for people who are interested in investing in
overseas markets. And you won't give specific financial advice that
your usual disclaimer, but you're best to look at a
fund manager that offers investments in particular markets, aren't.
Speaker 2 (36:32):
You, Yes, or even a so called multisset class fund manager,
somebody who has all of the sset classes in there,
because they are almost certainly going to have more international
equities and particularly US equities shares sorry, than they're going
to have in New Zealand and or Australia just because
(36:55):
it just gives them so much more investment opportunities. And
some of the returns from these American technological companies over
very long periods of time have been stunning. Yeah.
Speaker 5 (37:07):
Absolutely, Well, wouldn't you' you wish you'd brought in video
when it was about ten bucks a share?
Speaker 2 (37:12):
Yeah, but he even go back to Amazon thirty three
and a half percent over twenty seven years since I listened,
how much thirty three and a half Yeah, start stunning.
Speaker 5 (37:25):
Hey, Martin, thanks so much for your contributions this year,
and wishing you merry Christmas year. You're sticking around Chitcher or.
Speaker 2 (37:32):
Yes, just staying around christ Church and I'll be rock
climbing and swimming and carrying on.
Speaker 5 (37:37):
I'm actually down and I'll be doing my show. I'm
doing breakfast in about twelve hours time, actually heading down
to christ Church for about a week. So if I
might bump into you around the traps there.
Speaker 2 (37:46):
Yes, that'd be nice. And I hope you do have
a very good Christmas and christ fish us all the
listeners are very happy and cross pross New Year.
Speaker 5 (37:56):
Yeah, thanks very much, have a great have a great Christmas. Martin.
That's Martin Hawes and look out for him. Yeah, and
look out for his new book in March, of course.
And we'll be back in just a minute. It is
nine minutes to six News Talks. He'd be yes. So
welcome back to the Weekend Collective and that actually wraps
up our final show for the year. I just wanted
to say thanks to everyone who's tuned in and listened,
(38:18):
and also is very special, thank you to all my guests.
And we've had some great panels and discussions over the
various hours, so I really appreciate that people who've given
their time to come in and give good information and
have entertaining discussions. So thank you to all our guests
for this year as well. Actually, I'm back in about
(38:39):
twelve hours time because i'll be hosting Summer Breakfast, which
I'm really excited about. We've got some amazing interviews lined
up for our summer features, and of course we're doing
chatting with mayors from around the country as the usual
as well as the usual breakfast show that you've come
to know and love. Also, I just wanted to say
thank you to you for listening as well, because the
show's been rocking and rolling, and we've got a truckload
(39:02):
of listeners, and I thank you all for your correspondence
stuff where people are a little bit a little bit feisty.
And last of all, I would like to say thank you.
She hasn't been on the team for that long producing
the show, but I just wanted to say a very
big thank you to Tyra, my producer, and she's done
a great job. And so I would just wanted to
say publicly to Tyra. Think you're fantastic, You're doing great job.
(39:23):
Very Merry Christmas for you and your family. Enjoy the rooster.
Enjoy the rooster that you're going to be having for dessert,
not for dessert for a Christmas dinner. And anyway, by
the way, eight one hundred and eighty ten eighty, but
go and look for the podcast if you want to
catch up on any of the hours. I would particularly
(39:43):
recommend well all hours actually Allison Goston, Martin Hawes and
also Helen Clark and lockwood Smith for our politics, our
fantastic discussion with lots of lots of collegial opinion, and
it was a real highlight for me today as well.
So have a merry Christmas. And I'll catch you. Catch
at six am, so off to beat everyone, Catch you soon.
Speaker 1 (40:03):
That's enough.
Speaker 5 (40:05):
Gave wonder Christmas time. We're saving me one Christmas time time.
Speaker 2 (40:30):
The moon is right, the spirits up, will you tonight.
Speaker 5 (40:38):
That's saying me.
Speaker 2 (40:42):
Wander Christmas time? Save me on Christmas time, Save me.
Speaker 5 (40:53):
Christmas Time.
Speaker 1 (40:55):
For more from the Weekend Collective, listen live to News
Talks It'd be weekends from three pm, or follow the
podcast on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talks.
Speaker 2 (00:09):
It'd be news has come out in the First World War,
Bundy Red Barrens flying once more, the Aled commands ignore.
Speaker 3 (00:20):
All of his men and call it on.
Speaker 2 (00:22):
Snoopy to it again? What was the name for Christmas?
Speaker 4 (00:27):
For in Budo?
Speaker 1 (00:29):
Snoopy went up The searcher is follow smart Red Barn serious.
Speaker 5 (00:35):
Then I saw on his weeks gone and yes, welcome
back to the far layer of the Weekend Collective for
this year twenty twenty four and Snoopyes, Christmas. Yeah, i'd
still it's still struggling to make the list for me,
the old Snoopies Christmas, I'd say, But anyway, you can't
(00:56):
win them all, can you. My producer Tyra loves it
and she's looking happy there. So anyway, hey, welcome, This
is Smart Money and my guest for the final show,
Isinancial author. I've lost count of how many books I
always lose counter aw many books because it's a lot.
But it's Martin Haaugh's Gooday Martin, how are you?
Speaker 2 (01:11):
Yeah? Hi there? When did Snoopy first come out? I
would have said it was probably fifty years ago.
Speaker 5 (01:17):
Snoopy is Christmas.
Speaker 2 (01:18):
I Snoopy the cartoonyh Snoopy's No, Snoopy's Christmas. I mean
I heard it. I heard in the shopping mall today,
and I thought, my god, I'm going to go.
Speaker 5 (01:26):
With Oh my goodness, I was I thought you were bonkers.
I was thinking maybe early eighties, late seventies. It's nineteen
sixty seven, yeah, song, it's fifty what's that make it
fifty seven years old?
Speaker 2 (01:43):
Yep?
Speaker 5 (01:44):
Oh my goodness. Have you got any favorite bangers on
the Christmas music front?
Speaker 2 (01:49):
No, I haven't done the certainly wouldn't be like that either,
but yeah, no. I heard it in the shopping mall
today when I was some wandering around Maravale, actually, and
I couldn't believe it because I was sure that that
could come out when I was a teenager.
Speaker 5 (02:05):
Well, you're possibly right, although you would have been a
bit younger than that in sixty seven. When I'm just
throwing a shallow compliment your way there, Martin, Have you
done it Christmas shopping?
Speaker 2 (02:16):
I have all done, all done at one shop?
Speaker 5 (02:21):
Really?
Speaker 2 (02:22):
Yeah, I think.
Speaker 5 (02:24):
You can tell us what's shot because that might give
it away.
Speaker 2 (02:27):
I can No, it doesn't give it away. Because I've
told my both my children and my grandchildren that the
only gifts I'm buying from now on for Christmas and
their birthdays. Here's the grunch our books.
Speaker 5 (02:42):
Nownchy, what's wrong with the book?
Speaker 2 (02:45):
The small the smaller kids often have a little bit
of money put in the in the book as well,
and just you know, so they buy some toys. But
I was sick of Well, first of all, you know,
both the kids and the grandchildren, they kind of have
everything they want. Yeah, And I think good gift gift
(03:07):
buying is about wandering around in the shops thinking of
the person and thinking what they would like. So I've
just narrowed the universe down. If you like to only books,
You've still got to think a lot about Now, what
would this individual like? Would they like that book? Would
they like? You know? So there's still a lot of dithering.
Speaker 5 (03:27):
How do you slip a fifty dollars an O or
a twenty dollars night between the pages? Exactly?
Speaker 2 (03:31):
Yep, yep. And so they know now that that's coming.
Speaker 5 (03:37):
As soon as they get the book. They're not actually
previewing the book. They're thumbing the pages to see what
falls out. Course, of course, oh, fantastic. Actually, you're right
about the gift giving. By the way, look this is
our final hour. We going to talk about money, and
we've probably got a couple of grim things to talk
about when we look ahead to twenty twenty five, unless
we're going to be optimistic. But if there's something you'd
(03:58):
like to share with us about how you're spending your
money at Christmas and how you're budgeting for Christmas presents
and the approach you take. I, Martin, I don't think
that you've said you're a bit grinchy with giving books.
I would say there be a lot of people, whether
they be parents or educators whatever, be thinking bravo for
Martin Hawes. Books are fantastic.
Speaker 2 (04:19):
Yeah, I think they are.
Speaker 6 (04:21):
They.
Speaker 2 (04:22):
I mean the kids are certainly the bigger the grandchildren
and my own children would certainly be. You know, they
probably read off the screen mostly if they're reading books
at all, and these are of course hard copy books
that they're getting with some money in a little but
(04:44):
the grandchildren and particularly well particularly my two sporty ones,
for about five years, all I would do was give
them a Rebel sports voucher and they knew that was coming,
and because they were so much into sport and spent
so money, much money in sports shop and particularly rebel sports.
It was kind of like currency to them. You know,
(05:05):
it might have been a bank park and I don't
like sort of giving banknotes as the main as the
main thing. And this this year, I'm going to give
each of the children a very small, like two sentence
lecture on the book, just something like do me a
favor please and read the first twenty pages. If you
(05:26):
do that and you don't like it, you know, give
it away.
Speaker 5 (05:30):
Like the book, I.
Speaker 2 (05:32):
Think about the individual and you know, the the time
goes goes for it. Scorpio books here in questions that
extremely well. Now they give their gift wrap them and
I'm a hopeless gift wrapper. So that's that's a big thing.
But if you look at my Christmas tree, it's got
just a whole lot of all the same wrapping and
(05:52):
oblong shapes scattered around the because it's only books.
Speaker 5 (05:58):
Actually, you I think, actually I'm giving you a constant
bouquet here, but I think you can buy and I
think a great idea one. You're giving them a gift,
You're giving them a little bit of cash to spend
but you are giving them something that you put some
thought into. And you know how they say the thought
that counts, which is usually an excuse given when you've
given someone a crappy present, but it genuinely is the
(06:21):
thought that counts.
Speaker 2 (06:22):
There it is. I think gift giving is about thinking
of the person and matching the person to some item.
And as I said before, I've just sort of squeezed
the universe down a little bit and said it's only books,
but you've still got to get that matching because I think,
you know, if I gave if I gave the eight
(06:43):
year old grandson a book on cooking, you know, we'll
just go straight into the rubbish after they've picked out
the fifty old of course, so there's still there's still
quite an art. I think there is an art to
give giving.
Speaker 5 (07:04):
The other thing that you touched on there, you mentioned
Scorpio Books, which is obviously specialist bookseller down in christ Church,
and actually I think we've got a few specialist book
places in Auckland as well. One of the ones I've
been to is Unity Books. But of course actually books
are incredibly good value. When I was looking at buying
(07:24):
a book and given in the way here, but I
have got my family aunt listen, now I'll be safe.
But it's amazing. One you go into a specialist bookstore
and they love books, and they love they know their audience.
They know what's interesting or different rather than just here's
the latest release and such and such. And I just think,
and it's amazing. And I know that money. Everyone has
(07:47):
a different perspective on what's expensive, but I think that
you can get a hell of a lot of value
for money with books because some of the beautifully presented
hardback books I've looked at and you say how much
and they say, what's fifty nine to ninety five? I
think that that's, you know, for the presentation that getting.
There's a lot of value to be gotten booked in
specialist bookstores.
Speaker 2 (08:09):
Yes, And it's the people in there that are so
good as well. And you know, Scorpio were absolutely fantastic.
They tolerated me. I bought about twelve books or something,
so I spent a for a bit of money. But
then I walked into wit Calls today and wandered around
that and I thought I could have done exactly the same.
Fact I will do exactly the same next Christmas. Just
(08:32):
by going into wit calls or paper Plus or whoever else,
and the people and wik calls, I'd have to say,
knew what they were talking about as well a couple
couple of other books in their toes.
Speaker 5 (08:44):
I don't mean to exclude the other other retailers as well.
It was just I just remember thinking how helpful the
people who work in the book worked in those stores
were exactly Actually, we we'll take your calls on this.
I've got another topic that just crept up in the
middle of what you were saying, and it's to do
with it's to do with cash, and you just reminded
(09:08):
me how much I don't of course for international gifts
the Praisi card, the digital sort of currency, but I
quite like for Christmas, I hate Praisie cards. You always
forget the pin where you have trouble regesting them, and
then you forget how much is left on it. And
I don't know, I just like, I still think that
(09:31):
there's a role for cash, and especially in the books
when you hide it between the covers.
Speaker 2 (09:35):
Yep. Well, one of the things, one of the reasons
why I'm putting some cash into the grandchildren's and book
books is because I want them to get used to
cash because what they see. You know, if you think
of my eight year old grandson, what he sees as
his mum or his dad going to a counter and
(09:55):
picking out his bank card or his visa card or whatever,
handing it over and that's it, and he doesn't actually
see that his account has step it in. The has
to fix that up at some point in time. And
I think there's a useful exercise as we gradually get
rid of cash. I think it's a useful exercise for
(10:18):
younger children to actually be able to say to their grandchildren, well,
my granddad used to give us cash and we would
take it to the shop and then we would have
to think about what we could afford with this, rather
than taking out a card and just just flashing it.
And fact, not even a card. Now I do most
of my shopping but just presenting my phone, so it's
(10:39):
not even like I'm holding a bit of plastic anymore.
But I think that there's a there's a value of
money thing where it's actually folding notes or coins.
Speaker 5 (10:54):
I think you're almost going too gentle on this. I
think that this. I think that people that were all
losing the idea of what money's worth that if we
had to hand over the cash every time, we might
find we'd say, in fact, I think there have been
some studies on it. I can't draw the hand to
mine straight away. But if people actually have to spend
hard hard currency, yes, it changes their spending habits instantly
(11:17):
because they're like, oh my god, I have that comp
Whereas you know, you go blip and it's all done.
Until unless you're sitting on the breadline between your wages
going in and everything coming out, you're in danger of
not really being aware of how much you're wasting on
just stuff maybe you didn't need.
Speaker 2 (11:35):
No, the damage presents itself later when you go online
and look at your bank account balance. But you know,
so that that one of the grandchildren takes their fifty
dollar note and you know, starts to think, well I
can afford this, and I can afford that. But if
I do that, I can't do this over here a
(11:58):
third thing, and I think that's a very good exercise
for them.
Speaker 5 (12:01):
Yeah, we'd love your calls eight hundred and eighty text
two nine two and people, do you know, I think
it's actually probably more traditionally if I was to think
of the role of grandparents, they were probably possibly more
inclined to give little notes of gifts of money. But
what are the best ways to if you're going to
(12:22):
give money as a gift to someone, what's the way
that you prefer to do it? O eight one hundred
eighty ten eighty Do you go for the presy card
and make sure you write the amount on the back
because sometimes they forget their amount. You've got to call
them up. How much is that Prezzy card worth? So
it's not going to bounce on you at the till?
What do you prefer giving cash or are other things
the best way to do it, such as probably something
(12:45):
that doesn't thrill kids when they get told, look, I've
put some money in your Kiwi Saver. Oh great. But
the question about how you give your money, actually, if
you were going to give I mean, obviously, if you're
giving money for Kiwi Save or trusts and investments or things,
we're probably talking about giving a little more money because
(13:05):
twenty bucks into Kiwi Saber, you'd probably better to give
them the notes, wouldn't you, Martin?
Speaker 2 (13:10):
Yes, and I in lots of ways, I think the
notes are for for the reason that we've talked about before. Now,
I mean I do something else with Kiwisaver, which is
with the four grandchildren, I contribute on a weekly basis
to their Kiwi savers. And also I changed my will
(13:30):
four or five years ago, and each of the grandchildren
will receive a significant amount of money which would make
a sort of half of a house deposit, maybe even
all of a house deposit, depending on where you are.
And but that that money doesn't go to them, It
goes to their Kiwisaver. So that means it's available for
(13:53):
not for retirement, but for their first house, depending on
when I die.
Speaker 5 (13:58):
Do you spence it? Well, given your going rock climbing somewhere,
you know it's not going to happen from old age.
I shouldn't. I can't believe I just joked about that,
but I meant that obviously it's not about you, not
like your ticker is going to give out of you
because you are going rock climbing.
Speaker 2 (14:13):
I think, yeah, yeah, yeah, I do a lot of
rock climbing, open water swimming, mountaineering, so I do a
few risky things. But I'm still aiming today of old age.
Yeah yeah, Well.
Speaker 5 (14:25):
I mean, if you're going to go out then you
know what a wait and go I guess which. By
the way, just before we go to the break, because
where are you going again? Remind me of you going
to France or something?
Speaker 2 (14:33):
Yes, yeah, well I have been to France a couple
of times, rock climbing and so on, and I will
probably go to either France or Greece in this in
twenty twenty five again.
Speaker 5 (14:45):
At this time of the year, of course, because no.
Speaker 2 (14:47):
No, no, no, no, no, no, ye, get out of the question.
You went up, yeah, and go and go rock climbing,
and actually this twenty twenty five, one of the things
I'm thinking of is climbing the matter Horn and the
the Aiga, not the north face of the Aiga, but
one of the other riches on up and that's something
(15:11):
I want to do for a long time. So, you know,
just so, I'm a couple apparently getting no younger, a couple.
Speaker 5 (15:17):
Of great names. They're actually I know we're not talking money.
By the way, is the north face of the Aiga
the one that's sort of yes, that might shorten the
life expectancy for me.
Speaker 2 (15:27):
It wouldn't be capable fair.
Speaker 5 (15:30):
Right, Hey, Look, we want to know how do you
give money to your friends, relatives, grandchildren. What is the
best way to do it? What do you prefer? Actually,
I think that Martin talking about when it comes to
bequeathing money to give it to the grandchildren and key
we save is a very smart mode because it implies
that they well pretty much says you either use this
(15:52):
when you retire or use it to buy your first house,
assuming gavement policy doesn't change, of course, But how do
you give money? Do you prefer cash? Do you prefer
pressy cards? Give us your take on that. On ten
eighty Martin and I are going to also have a
chat about the looking forward to twenty twenty five. I
should probably say looking ahead to twenty twenty five, but
(16:13):
let's not be too pessimistic that we can't also look
forward to it. Give us a call eight hundred and
eighty ten eighty text nine to nine two. It's a
twenty three past five news talk z b.
Speaker 1 (16:25):
Y mean one.
Speaker 5 (16:30):
It is less.
Speaker 6 (16:35):
Mister critch, your bad bananas.
Speaker 5 (16:43):
With the gasy black pears. Your power well does tie
into Christmas because it's a mean one, mister Grunch. But
it's not having me. It's not having me. A hum
along that one so well, I'm gonna mark Tyra out
of ten on that one. I'm going to give you
two because you get two points for at least being
(17:03):
for the Christmas themed. But we going to try harder
for the next break new stalks. They'd be right. We're
talking about money. They'll the best way to give gifts
to your children, your grandchildren, or maybe the other way around,
to your friends or your parents even I don't know.
Eight hundred and eighty ten eighty and cash over the card.
What is the best way to teach your kids about
the value of money? And Martin was saying, and it's
good to give them cash. They spend the cash, they
(17:24):
see the money going out of their hot little hands,
and maybe some change coming back or not. Right, let's
carry on, let's get into it. Should I say Alan, Hello.
Speaker 3 (17:34):
Hello the I want to I do most of my
shopping using a card. But on the other side of
the other side of the deal, I'm looking at the
club scene. And I helped to run at a little
country music club in Oriwa. And we need cash at
(17:57):
the door, five dollars to get in. We need cash
to buy a raffle ticket, we need cash to actually
give bands people a little bit of petrol money, and
all this wonderful stuff about our castless society just does
(18:18):
not work in that scene.
Speaker 5 (18:20):
So yeah, I don't like the idea of a castler society.
I loathe it. What about you on that, Martin?
Speaker 2 (18:26):
Yeah, well I would be the same. I mean, there
are lots of little organizations that even I often think
somebody asked me for a donation in the street or something.
And I'm not thinking of homeless people so much here
as those charitable organizations. But I never have any money
with me anymore. For probably a decade carried cash as
(18:47):
a matter of course. I keep a bit of cash
around the house, but I don't take it with me.
And if I was going to one of your events
out and I doubt that I would have the five
dollars to get in, probably have to go. I wouldn't
get in, just go home.
Speaker 5 (19:01):
Well you might look at them and go your Martin hars.
Speaker 2 (19:05):
One look at me and tell me to go away. Probably.
Speaker 5 (19:09):
Actually that is an interestant point about fund raising as well,
isn't it allan.
Speaker 3 (19:14):
They can expect every little club in the country to
have a poss machine where people can put their card
and then pay their bloody money. It doesn't work that way.
Speaker 5 (19:26):
No, yeah, no, I agree, Alan, I mean I don't
think we'll ever be cashless, will we, Martin? I would
hate to think not.
Speaker 2 (19:35):
I wouldn't say never, but not for a while. I
wouldn't think. I mean, cash has hung around already a
lot longer than many people predicted, say twenty five or
thirty years ago. It's I remember when ZipZaps first came in,
you know, or for credit cards, and then the electronic
(20:00):
machines and such like. People predicted we won't we won't
have and then of course online payments. But it's it's
very difficult for people who are looking for donations, people
who knock on your door looking for you know, I've
probably got enough cash to give them something here.
Speaker 5 (20:18):
No, you can just explain to your grandchildren, sorry, there's
no fifty dollars, and then I gave it to Actually,
that is another topic we can touch on while we're
talking about the whole cash thing, is actually how do
you donate to charities? Because there are some fundraising causes
where they're raising for charities, but not all of the
(20:39):
money you give goes to that charity because the organizations
that are paid to do that sort of thing, And
I think if you want to give money to a charity,
the best way to do it is to go online
and give it directly to charity.
Speaker 2 (20:51):
Yes, when I was on the board and president of
Saved the Children, and we had people on the streets,
but they weren't our people, they were a business. They
were charging a percentage.
Speaker 5 (21:02):
It's percentage in some cases.
Speaker 2 (21:04):
I think it is from memory, and it's far best
to go direct to the charity if you can. So, yeah,
good stuff.
Speaker 5 (21:14):
Hey, let's take some more calls. Where we're up to
is well? Good afternoon, good as.
Speaker 4 (21:21):
How are you going good? I am. I'm a business
owner and I also work for a bank, and so
I've got this sort of conflicting view on this transition
to digital end. You know, as a business owner, it's
really convenient. Your customers can just tap their cards and
quickly process their payment and you can move on to
your next customer and things can flow quickly. But the
(21:43):
merchant fees are a real issue for us. And you know,
I've got to be careful because I work for a bank,
and I understand why banks do charge fees, but I
think customers will move towards whatever is most convenient, and
so eventually even cash will go. I'm still a huge
fan of fashion. I thought it was a good idea
to give cash to kids. But our intrea ages now
(22:05):
and they don't want cash because you know, they didn't
know what to do with it. So they were they
received cash from their grandparents. They're asking mom and dad
to transfer the equivalent funds into their accounts and so
mom and dady and that was the was the physical.
Speaker 5 (22:20):
Cash that they can buy online.
Speaker 4 (22:24):
They're shopping online. It's full theme. We hear that's a
digital future, which is a real pity I think personally.
Speaker 2 (22:33):
Yeah, yeah, Well, one of my pet hates is going
into a coffee bar, for example, and you know, coffee
or six dollars or something, and then they put another
few cents on for bank fees. And it's the only
thing they put another few cents on for. They don't
ask you to contribute, contribute to their electricity bill or
(22:57):
for the cleaner who comes in and cleans the plates later.
It's only bank fees and I loads that. I think
that should be absorbed in it and it should be
a gross price.
Speaker 5 (23:09):
Yeah, I must say I do, and they're like, if
you don't want to pay that two percent, you'll have
to swipe your card. And I think that the banks
are probably a little bit complicit in this too, though,
aren't they, because they I'm not I haven't got on
top of this in terms of right now in my memory,
but I think there are some moves afoot to pressure
banks to stop laying on these fees, aren't there.
Speaker 2 (23:31):
Martin?
Speaker 5 (23:32):
Does that ring a bell with you?
Speaker 2 (23:34):
Yes, you know? I think so. It's the payWave that
I think is most expensive. Now. Well has probably got
a bit of a handle on this. But the merchants,
the cafe owners, they always blame it on the banks.
They say, the bank fees are horrendous on this and
we just have to pass it on. Well, I'd be
saying in coffee, yeah, that's right, I wouldn't.
Speaker 5 (23:58):
I guess what that The awkwardness to them is they
like to say, look at lata is five fifty or
six poce. They don't want to say light a six
dollars sixty three. No, no, no, to be honest, and
I don't think i'd care. I'd just be like, you know,
there it is, that's the price.
Speaker 2 (24:15):
They absorb ale their other costs and the gross price.
It's only bank bank fees.
Speaker 5 (24:22):
Yeah. Actually, on the we'll touch it, tell you what.
We'll touch base on the on the on the outlook
for the economy, and just a moment, we've got some
more course coming in as well. But I think we'll
take the break now. It is sixteen minutes to six
on Well, no, not what am I saying sixteen minutes
to six, It's twenty six minutes to six news Talk.
(24:44):
Sa'd be.
Speaker 2 (24:48):
Dreaming harvel.
Speaker 5 (24:53):
Christmas, just like the one I used to know. Yes,
so that is my producer Tira getting back at me
by playing me because I bagged her choice of the
Grinch at Christmas? So what but a little bit of
a little bit of white Christmas at Christmas time? Indeed,
and by the way, it does. By the way, for
(25:13):
those who think white Christmas is a Northern Hemisphere song, no,
you're dreaming of a white Christmas because you could be
in Hawaii. Hence the Hawaiians at a guitar. I'd steal
guitar in the background. There we go. Anyway, My guest
is Martin Hawes. We're talking about all sorts of things
to do, with giving cash and money at Christmas the
best way to do it and using cash as well.
Speaker 6 (25:30):
Alan, Hello, good, how are you this evening?
Speaker 2 (25:34):
Yeah? Good?
Speaker 5 (25:34):
Thanks?
Speaker 2 (25:35):
Good?
Speaker 6 (25:36):
Hey listen. In my retirement I decided to fill in
a few hours, you know, service stations throughout parts of
New Zealand, and I was for a cash society until
I saw the number of jubious people down about during
the dark hours with bundles of cash, not wanting any trail. Alsoever, yeah,
(26:02):
it's pretty tricky. Also at these stations, people can come
in and pick a rounded number and they can purchase
I can't even recall what it's called now. It's basically
a slip for like online gambling, so they only you
can't gamble more than what your slip's worth.
Speaker 2 (26:22):
Yea.
Speaker 6 (26:24):
Anyway, that's often used as as currency criminal. Yes, And
one of the things that the crim's like about it
is they're not going to get done for having a
whole leap of bits of paper in their pocket. They
also got depending on the alpha they gamble with, they
can get one or three free trials before they cash
(26:46):
the bit of that number in. They don't have to
spend it, if you know what I mean.
Speaker 5 (26:50):
So where are you at with gosh? Do you love
it or hate it?
Speaker 6 (26:56):
Well, on balance, I think I have to hate it
because there's too much damage being done, too many good
people in the protecting these other troops.
Speaker 5 (27:07):
Well that's an interesting perspective.
Speaker 2 (27:09):
Ye.
Speaker 5 (27:09):
Yeah, I wouldn't want to give get rid of cash
just because the criminals use it, though, what about you, Martin?
Speaker 2 (27:15):
No, I you know, I'm very sympathetic to this, and
I do know that you know, cash is watts of
cash is you know, it is what criminals use. And
we never, you know, police do a big bust of
drugs and something like that and they say, am, we
found a million dollars and twenty twenty dollars note bills
or something like that. I wouldn't get rid of cash
(27:37):
simply because of the money laundering, but I am sympathetic.
Speaker 5 (27:41):
It's worth balancing that with the reminding us that cash
was king during that public emergencies and storms and during
the cycling Gabriel power cuts and all that sort of thing.
In fact, it's worth considering how much cash you should
keep on hand, because sometimes I have some on hand
and sometimes I have none, And I haven't got a
(28:02):
firm policy on that, But I'd hate to suddenly need
some form of currency because of you know, power cut
or something.
Speaker 2 (28:10):
I always try to have a bit of cash here
because you know, during the christ Choose quakes, if poss
went down, you couldn't put you couldn't put petrol on
the car. Yeah, because because you couldn't pay for it
with the car, you needed cash to pay for it.
Speaker 5 (28:28):
Hey, when's you? When's your next book coming out?
Speaker 2 (28:30):
By the way, March the something other than twentieth something?
Speaker 5 (28:37):
So are you gonna flick mayor copy?
Speaker 2 (28:40):
Yes? I will, Oh God, absolutely, because I.
Speaker 5 (28:42):
Know what comes in your books. I'll be thumbing through
those pages.
Speaker 2 (28:47):
That's right. I don't I don't think the whole print
run will have Oh no.
Speaker 5 (28:54):
It doesn't have to be the whole print runner anyway. Hey, look,
let's it's been fun talking about cash and giving and
and there's some great ideas I think that there. For
I think your idea about giving kids, if you can
afford it, giving grandchildren a gift into their smart then
into their kisaver is such a legally non complex thing
(29:16):
to do, isn't it. You don't have to worry about
drafting up terms of a trust in things. You just say,
this money to go into such and such as Ki Saver,
and the job is done because if you want to
spend it on their first house.
Speaker 2 (29:28):
Yes, it's just so simple.
Speaker 5 (29:30):
Yeah. And the power of compounding interest is I lived
to regret every day when somebody told me years ago
about the value of compounding interests. But then again, career
as a musicians, you're not always got that spare money
to shove into accounts. Hey, let's talk about twenty twenty
five and the On the more meaty side of things,
(29:51):
we did have a fairly dismal report on the half
yearly fiscal update the HIFU. Are you are you worried
about that from just an investment point of view, Martin,
or do you think there's always a way of sailing
these waters and it's more the government's problem than yours
or mine.
Speaker 2 (30:10):
From an investment point of view, my strategic and long
term at A plan would be to invest money outside
of New Zealand and to invest most particularly in the US.
The US is the is the economic powerhouse of the world,
but even more particularly over the last two or three decades,
(30:34):
it's been the technological powerhouse, and it's been technology it's
been the technology companies that have been done the best.
So from an investment point of view, you know, I
think unlocked the other day, I think something like thirty
five percent of my portfolio is in international equities alone,
the bits and pieces of international bonds and so forth.
(30:56):
I have ten percent in New Zealand's.
Speaker 5 (30:59):
That's sort of in a way putting it putting our
own investment aspirations to one. That does make me feel
worried for New Zealand because if you're thinking like that
and other investment, because what we need is investment in
New Zealand, don't we Because we're not going to tax
our way out of this problem. We have to produce
(31:20):
our way of it, don't we.
Speaker 2 (31:21):
Yes, yes we do, and not so much for twenty
twenty five, but for the long term. I'm very worried
about New Zealand because farming, which is used to be
our biggest industry, is losing its social license. You know,
farmers are feeling squeezed by the work that they have
(31:43):
to do in terms of environmental and so forth. And
I don't think anybody would argue that they shouldn't have
to do that, but there are people who are looking
at animal welfare issues and such like. Tourism is second
biggest industry or second big I think first biggest employer
of people, and that's a very difficult industry because you
(32:07):
simply can't get labor productivity out of tourism. Because somebody
can only make so many beds in a hotel. You know,
machine's not going to do that. Somebody else can only
make so many cups of coffee and so forth. So
tourism is very and it tends to be a bottom
feeding kind of industry. It's not it's not super profitable
(32:30):
or any anything like that. There are two biggest industries
and I can't see a third coming along. Now. I'd
love somebody to dial in and tell me what that
might be. And I look over my commercial career. When
I was importing, and this is going back to the eighties,
(32:51):
we would we were importing from Singapore.
Speaker 5 (32:54):
What were you importing?
Speaker 2 (32:56):
We were importing bartiques and clothing, and one New Zealand
dollar would buy three dollars between Singaporean. Now one New
Zealand dollar will buy eighty Singaporean.
Speaker 5 (33:11):
I had a look for US, bad news for export money.
I guess is it all around?
Speaker 1 (33:15):
Well?
Speaker 2 (33:16):
It just it just shows how much richer they've got
and how we've sort of stayed the same.
Speaker 5 (33:25):
Switched that the wrong way around for a second. So yeah,
I'm with you now. Sorry.
Speaker 2 (33:28):
I look at Ireland. I remember Ireland coming out here
on about the nineteen nineties a whole group from the
their economical Economic Development Unit to get some advice on
how they could get their economy going better. It would
have been the early early nineties. They are now one
of the richest companies in Europe. We are we are languishing.
(33:52):
We don't have another big industry coming on in behind
which is going to provide a good living. I'm not
just meaning a living, a good living for lots of people.
And there were men many reasons.
Speaker 5 (34:06):
A dressing me Martin, you need to cheer me up
with something.
Speaker 2 (34:09):
Well, I think twenty twenty five will be better than
twenty twenty four, if that cheers you up. But still
I still think of the children and the grandchildren and think,
you know, I want them to grow up in this country.
I don't want my grandchildren to graduate and immediately go overseas,
which is what's happening to a lot of people because
(34:30):
other countries are better off. And it's not so much
that it's better off in the sense that they can
buy more plastic bits and pieces. It's that they probably
have bigger lives and just about every respect their education
is better, their health is better. You know. It's those
kinds of things which I'm really concerned about for New Zealand.
(34:52):
We don't seem to be able to address them. We
don't seem to be able to have a political conversation
which doesn't turn into a screaming match, will make no
sense whatever.
Speaker 5 (35:01):
Actually you might not have caught it, but where it
was actually quite heartening to We had a political panel
for our final Politics Hour and I had Lockwoodsmith, the
former Speaker of the House Commission London, together with Helen Clark.
And the level of collegiality that they demonstrated towards just
the topics we talked about into each other was actually
(35:23):
it sort of felt quite retro Then we could have
politicians who might see what mind do They agreed on
quite a few things, to be fair, but who might
see things philosophically a little differently, engaging with each other
in a sort of respectful way. That that and Helen
was talking about that in terms of what we need
to do with infrastructure, a whole lot of our challenges,
and I think that that's one of the things I
(35:43):
would wish for for twenty twenty five, is that we
can find a way of not being so bloody obnoxious
to each other.
Speaker 2 (35:50):
Yeah, but the trend is not going in the right direction,
they tell. I mean, you know, Seymour and Luxe and
are not collegiate collegial with hipkuns and no, well possibly
one moment. No, no, neither. We're just we're just sort
of tearing ourselves to bits and not agreeing on anything
(36:14):
as a society and getting on and trying to do that.
Speaker 5 (36:17):
Just a quick thing, just on back with your financial
hat on for people who are interested in investing in
overseas markets. And you won't give specific financial advice that
your usual disclaimer, but you're best to look at a
fund manager that offers investments in particular markets, aren't.
Speaker 2 (36:32):
You, Yes, or even a so called multisset class fund manager,
somebody who has all of the sset classes in there,
because they are almost certainly going to have more international
equities and particularly US equities shares sorry, than they're going
to have in New Zealand and or Australia just because
(36:55):
it just gives them so much more investment opportunities. And
some of the returns from these American technological companies over
very long periods of time have been stunning. Yeah.
Speaker 5 (37:07):
Absolutely, Well, wouldn't you' you wish you'd brought in video
when it was about ten bucks a share?
Speaker 2 (37:12):
Yeah, but he even go back to Amazon thirty three
and a half percent over twenty seven years since I listened,
how much thirty three and a half Yeah, start stunning.
Speaker 5 (37:25):
Hey, Martin, thanks so much for your contributions this year,
and wishing you merry Christmas year. You're sticking around Chitcher or.
Speaker 2 (37:32):
Yes, just staying around christ Church and I'll be rock
climbing and swimming and carrying on.
Speaker 5 (37:37):
I'm actually down and I'll be doing my show. I'm
doing breakfast in about twelve hours time, actually heading down
to christ Church for about a week. So if I
might bump into you around the traps there.
Speaker 2 (37:46):
Yes, that'd be nice. And I hope you do have
a very good Christmas and christ fish us all the
listeners are very happy and cross pross New Year.
Speaker 5 (37:56):
Yeah, thanks very much, have a great have a great Christmas. Martin.
That's Martin Hawes and look out for him. Yeah, and
look out for his new book in March, of course.
And we'll be back in just a minute. It is
nine minutes to six News Talks. He'd be yes. So
welcome back to the Weekend Collective and that actually wraps
up our final show for the year. I just wanted
to say thanks to everyone who's tuned in and listened,
(38:18):
and also is very special, thank you to all my guests.
And we've had some great panels and discussions over the
various hours, so I really appreciate that people who've given
their time to come in and give good information and
have entertaining discussions. So thank you to all our guests
for this year as well. Actually, I'm back in about
(38:39):
twelve hours time because i'll be hosting Summer Breakfast, which
I'm really excited about. We've got some amazing interviews lined
up for our summer features, and of course we're doing
chatting with mayors from around the country as the usual
as well as the usual breakfast show that you've come
to know and love. Also, I just wanted to say
thank you to you for listening as well, because the
show's been rocking and rolling, and we've got a truckload
(39:02):
of listeners, and I thank you all for your correspondence
stuff where people are a little bit a little bit feisty.
And last of all, I would like to say thank you.
She hasn't been on the team for that long producing
the show, but I just wanted to say a very
big thank you to Tyra, my producer, and she's done
a great job. And so I would just wanted to
say publicly to Tyra. Think you're fantastic, You're doing great job.
(39:23):
Very Merry Christmas for you and your family. Enjoy the rooster.
Enjoy the rooster that you're going to be having for dessert,
not for dessert for a Christmas dinner. And anyway, by
the way, eight one hundred and eighty ten eighty, but
go and look for the podcast if you want to
catch up on any of the hours. I would particularly
(39:43):
recommend well all hours actually Allison Goston, Martin Hawes and
also Helen Clark and lockwood Smith for our politics, our
fantastic discussion with lots of lots of collegial opinion, and
it was a real highlight for me today as well.
So have a merry Christmas. And I'll catch you. Catch
at six am, so off to beat everyone, Catch you soon.
Speaker 1 (40:03):
That's enough.
Speaker 5 (40:05):
Gave wonder Christmas time. We're saving me one Christmas time time.
Speaker 2 (40:30):
The moon is right, the spirits up, will you tonight.
Speaker 5 (40:38):
That's saying me.
Speaker 2 (40:42):
Wander Christmas time? Save me on Christmas time, Save me.
Speaker 5 (40:53):
Christmas Time.
Speaker 1 (40:55):
For more from the Weekend Collective, listen live to News
Talks It'd be weekends from three pm, or follow the
podcast on iHeartRadio.
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