New Plan For My Moolah? Part II

Following a snafu with Rabobank, I am reassessing how and where I have my money saved. This is Part II. In Part I, I reviewed my savings, interest rates, and made a plan for my short term savings.


Now, what to do about the rest of the $$?

Intermediate Term Funds (in the next 5 years): $13K
Europe Travel Fund: $13K

Long Term Funds (10-20 years away): $45.5K
House Down Payment: $45.5K

Normally, if I were in the US, I would park the intermediate and long term funds into an index investment fund, where they could grow with the stock market. However, the US tax system is ridiculous and I'd have to pay a tax consultant $50+ per fund to identify the tax implications every year. Nope, not gonna do that.

I could transfer the intermediate and long term $$ into USD and park it in my (very poor performing) Vanguard investment account, but the conversion rate right now is...abysmal.


 
Not gonna do that either.

What I'd LOVE to do is pop the money into the peer to peer lending accounts, and invest it slowly over time, at $50 a pop.

So far, the p-t-p lending has a great return rate at 12.86%. They are quite risky, however. If the economy tanks and I have $50K in there, I am apt to lose it as folks will not be able to pay me back and will default on their loans, which the company will just write off. Diversifying across hundreds to thousands of loans at $50 each across time will hopefully help this situation. I do wonder if I need to realize my gains by having an exit strategy or something, though, per $1K earned or something, instead of re-investing? That way, the principal is safe(r).

NZ's Squirrel peer to peer investing has lower returns, but it has a security in place, in the form of the Reserve Fund. It seems to act as an index fund for peer to peer lending. I am not sure what the tax implications for that are exactly, so that might actually be a dead end as well.

Thoughts?

New Plan For My Moolah? Part I

As previously posted, I'm unhappy with RaboDirect for my online savings account. I think it is time to review where and how I save my money, anyway.

First, the lay of the land currently. What are my interest rates?


(interest)                     (account)                (Balance)
2 % p.a.                      Rabo Online Saver: $4,435
2.10% p.a.                  Rabo Premium Saver (each month you deposit $50; 0.55% p.a. if not): $67,300


0%                              Bonus Bonds: $160
12.86%                       Peer to Peer Lending: $2,562    


To me, this money is also broken down into funds according to when they could be spent:

Short Term Funds (in the next year): $15,725
Emergency Fund: $10K (when this is needed, it is an emergency; so, to be safe, at least 1/3 needs to stay liquid; other $$ can mature monthly)
Annual Insurances: $500 (need within a year)
US 2019 Trip: $3K (need within 3 months)
US 2020 Trip: $750 (need to be pulled out in a year)
Self Care Slush Fund: $475 (constantly being used/replenished)
DSLR: $1K (need within 3 months)
Intermediate Term Funds (in the next 5 years): $13K
Europe Travel Fund: $13K

Long Term Funds (10-20 years away): $45.5K
House Down Payment: $45.5K 

The above info will help me decide where to place my money. Short term funds should stay safe and reasonably accessible. I want to tackle that one first.



Strategy for Short Term Funds:

Since I want to keep my short term funds pretty liquid and protected, I think an online savings account is good for this. I could create a CD ladder (for 1 year max), or look at other options. I did a search online, and these are the highest rates I could find for both online call savings accounts and CDs:

Online banks:
The best is still Rabobank at 2.10% p.a. (ugh)


CDs:
1 year CD, Finance Direct*, 5.00% p.a. 
1 year CD, General Finance*, 4.8% p.a.
1 year CD, Rabobank (ugh): 3.35% p.a.
1 year CD, SBS bank, 3.25% p.a.
Notice Saver**, Kiwibank, 90 day notice period, 3.10% p.a.
Notice Saver**, Rabobank (ugh), 60 day notice period: 3.00% p.a.


Debentures can earn up to 6% p.a., but I do not understand how these work or what these are right now, so I am going to leave them alone.

*these are not normal online banks, from what I can tell. The application process seems complicated, and some of their ratings are low. 
**rates can and will change on these accounts according to the Treasury rates

Result
For now, I think I'll pop some of this $$ into into the 3.1% p.a. Kiwibank account, where it will require a 3 month advance and can earn more interest than it is currently earning. That makes it easy to manage, esp because I already have a Kiwibank account. I'll see how that goes.

ETA: Actually, I am unsure about this plan because it would require me to report my US citizenship status to Kiwibank, and I am not about to let them cancel my account due to the extra work the US requires them to do for US citizens. Currently I have refused to answer any/all questions about my US or NZ citizenship with both my NZ and US banks)

Later on, maybe I will start a CD ladder for some of the EF fund and portions of money that I do not need until next year.

No Access to Funds

Ugh. Rabobank.

Rabobank provides its customers something called a 'digipass' to create a unique code to log into their accounts online.

digipass from Rabobank

Digipasses are not magic, of course, so eventually mine started showing me an error and saying that the battery was low. It still worked, but I ordered a new one to be delivered. I really expected it to be delivered quickly, and to have access to my funds through the majority of this process. I also expected there to be some sort of  'moving over' of permissions between digipasses that I could control.

Over two weeks later, not only have I not received my new digipass, my old one was 'de-linked' from my account as soon as the new one was ordered.

Now, I have about $70K in the bank there, and this represents the majority of my savings. I am getting extremely antsy and discomfited. Rabobank promised me in a phone conversation that it would be delivered a week ago. When that didn't happen, I followed up via a message (so I would have proof), and got this message on the 14th May:

"Thank you for your enquiry.

There has been a slight delay with our Digipass deliveries. We apologise for this inconvenience.
If your old Digipass is no longer working, that is because we have de-linked it from your account for the new Digipass."

A week later after getting this message, and still NOTHING. I am extremely unhappy with this service, and based on this alone (not to mention the decline in interest rates), I am open to suggestions about where I should move my money after this is resolved.

Also, since my old digipass is de-linked, apparently ANYONE could intercept my new digipass and have full access to my funds! The new digipass doesn't even require me to sign for the package.

Not to mention, I have run out of invest-able money in my peer to peer lending account, and am missing some great opportunities to get a higher yield from this money, all because I cannot transfer money from my savings right now. I don't want to transfer money from my checking account because I don't even know when I will have access to my funds again! 

I cannot tell you how unhappy I am, but I tried in my email to the company:

"Hello,

It has now been 2 weeks without having online access to my funds in Rabobank due to the delay in the delivery of a new digipass, as well as the de-linking of my old digipass. I am extremely unhappy about this situation, and about the terrible  (virtually non-existent) communication from Rabobank about this issue. Can you please clarify when I can expect delivery of my digipass so I can access my funds easily again?

I am very seriously considering shopping for a new online bank and taking my money elsewhere."

What if there were an emergency and I needed fast access to my funds? I just find this entire situation unacceptable.
 

So, Kiwis, sound off: which online banks are you happy with?

How Finances Affect Fun Hobbies: Concerts Edition

There is a challenge going around on Twitter: name 4 bands that you have seen, 1 band that you have not, and people guess which one it is that you haven't seen.

I think that is silly. Strangers guessing about random events in your life? It is more of a way to brag about the acts you've seen.

But...it got me thinking. I honestly can't remember which bands I have seen and which I have not. I used to go to a lot of shows in college, a few in Hawaii, and A LOT when I lived in Southern California (most awesome bands end up playing shows there eventually). Since moving to NZ, I have only been to a handful. It is just too expensive to go to concerts for big acts here. I wonder how that has affected my concert-going habits?

I want to put together a list, so I am going to archive it here:

My first 16 years:

1. various awful Christian bands that played at religious days at the local theme park--in any case I didn't go there specifically to see these bands play, so I am not counting them! I honestly couldn't name them if I tried

Ages 17 - 22

1. No Doubt (my first "real" big concert was Weezer opening for No Doubt at 18--epic!)
2. Weezer 
3. some fun ska band a guy in my dorm was in, Baker? He was an upperclassman and invited me and a few of the other girls on my floor to come see him play (probably my first actual gig, played at a house party in college when I was 17)
4. Bush (I think? I have a hazy memory of seeing No Doubt and Bush playing together but I also know that I saw Weezer at this same concert with No Doubt)
5. Letters to Cleo
6. Collective Soul
7. Juliana Hatfield
8. Fighting Gravity
9. Live
10. Blues Traveler
11. Pat McGee Band 
12. Cracker
13. Lauren Hoffman
14. Our Lady Peace
15. Jimmie's Chicken Shack
16. Mighty Mighty Bosstones
17. 311
18. Guster
19. Soul Coughing
20. Marcy Playground
21. Travis

There are a TON of smaller acts that are missing in the above list. I know I saw the above but the rest are lost in a haze of youth, tagging along with people to gigs on a whim after meeting them at a party, and...well, yeah--bands that were playing at a frat house/house party while drunk in college. I didn't see as many bands as I would have liked because I was a poor student, but this is when I made it a huge point to save up for bands that I knew that I really liked when they came through town.

2000's--mostly Southern Cali, some Hawaii

1. RAIL at the Wave Waikiki
2. Glen Philips
3. Guster 
4. Jimmy Eat World (more than once)
5. Red Hot Chili Peppers (bday present from a friend when I turned 25)
6. Incubus
7. The White Stripes
8. Black Eyed Peas
9. The Killers (more than once)
10.  311
11. Foo Fighters
12. the Pixies (more than once)
13. Garbage
14. Snoop Dogg
15. The Flaming Lips (more than once)
16. Flogging Molly
17. Dashboard Confessional
18. Death Cab for Cutie (more than once)
19. Kasabian
20. Social Distortion (more than once)
21. West Indian Girl
22. Morningwood
23. Tool
24. Yeah Yeah Yeahs (more than once)
25. Queens of the Stone Age
26. The Shins (more than once)
27. Muse (more than once)
28. Spoon
29. Louis XIV
30. Gym Class Heroes
31. G. Love and Special Sauce (more than once)
32.  Clap Your Hands Say Yeah
33. Ozomatli
34. Modest Mouse
35. Silversun Pickups
36. Eagles of Death Metal
37. The Faint
38. Tegan and Sara
39. Bright Eyes
40. Dresden Dolls
41. Wolfmother
42. Dropkick Murphys
43. Secret Machines
44. The Black Keys
45. Franz Ferdinand
46. Kings of Leon
47. Interpol (more than once)
48. Bloc Party
49. The Bravery
50. Pinback
51. Nada Surf
52. They Might Be Giants
53. Kasabian (more than once)
54. Rocket from the Crypt
55. Grand Ole' Party
56. Beck
57. Wilco
58. Florence and the Machine 
59. Rage Against the Machine
60. Sum 41
61. Blink 182
62. The Offspring
63. Chevelle

Plus a huge number of small local bands and DJ sets that I will never remember. The above all occurred in an 8 year period between 22 and 30. In Hawaii, I was poor but still tried to see as many good bands as I could, and the smaller venues were cheaper. Once I moved to Southern California, I had a real job with disposable income, and...you can tell! I got super into going to gigs, and many of the bands I was listening to on the radio had shows nearby, so it was serendipitous time for me.

And finally...the paltry number of bands I've seen since moving to NZ 11 years ago:

1. Band of Horses (30th birthday present from XBF after moving to NZ)
2. Greg Laswell (You should know this guy! SO. UNDERRATED. His songs are constantly featured on Grey's Anatomy, One Tree Hill, Cold Case, Black List, etc. Went to hear/meet him when I was home in the US and he was doing a free meet and greet + concert nearby, my sister flirted with him)
3. Michael Franti (a friend gave me an extra ticket)
4. Neutral Milk Hotel (this made my life complete, actually)
5. Amy Shark (love her!)
6. Brooke Fraser (she happened to be playing a talent showcase I was in in Auckland when I first moved to NZ--she had just won some big song award? I remember being blown away and feeling lucky I got to hear and discover her)

Wow. What a complete fail the past 11 years have been for concerts (aside from the above, obviously, which were all utterly fantastic shows). I am so sad that what used to be one of my favorite past-times has been cut down so much due to finances. :/

The reason I was able to see so many bands between the ages of 22 and 30 is because Southern Cali had amazing 1-3 day music festivals (no camping; you could go home between days) that allowed you to see a ton of bands for very cheap, plus there are a million and one small venues where you can see your favorite band play up close and personal, plus the cover charges were quite reasonable...$15 - $25 or something? I remember it being VERY affordable.

My favorite way to see bands is in a small venue, but those tickets here are ridiculously expensive--$50 - $150+ for one band? I mean, I love my bands but could you imagine if I'd paid $50 -$80 per band in the SoCali list?

The music events in Auckland don't attract enough of the big names to make it worth paying the fees, either--I would essentially be paying $150 to see one band there, too. ...Like, 2019 Laneway had Amy Shark and Billie Eilish, but tix were $180. Nope nope, and nope. I've seen Amy already so I'd really just be going for Billie. Whereas the music days I'd go to in California would have about 12 bands I was already a fan of and wanted to see, plus lots more I'd heard of and wanted to check out, and the tix there would cost between $17 and $100 (for 1-3 whole days of music and a LOT of big name bands ). Value for money, baby!


Acts I REALLY wish I'd seen:

1. Sublime
2. Beastie Boys
3. Nirvana (obviously)
4. Jane's Addiction
5. Soundgarden
6.  Lorde (there is still time :))
7. Beyonce
8. Green Day
9. Ella Fitzgerald
10. Adele
11. Taylor (sorry, not sorry, I love her)
12. Billie Eilish
13. Schoolboy Q
14. Kendrick Lamar
15. Veruca Salt
16. Silverchair
17. Oasis
18. Dave Matthews Band. (I did sell shoes to Boyd Tinsley once, though. He came into the Rack Room Shoes where I worked all through college.)
19. Arcade Fire
20. CAKE
21. lots and lots more

I need to make sure I see some bands when I am home in the US again, I guess! 

Closet Clean Out Regret

I went to go grab my jean jacket a few days ago before realizing that I donated it!! I hadn't worn it in about 3 years so now I'm regretting donating everything. What if I want to wear any of it again? Aaahhhhhhhhh!

There is only one way to fix this: dumpster dive into the donation bin.

Just kidding. I'm adding 'jean jacket' to my 'buy' list when I'm back in the US again. That jean jacket was from about 2005, so it is time to get a modern version anyway. Feel free to post links to cute jean jackets in the comments! 

I was wearing my faux leather pants for the first time and going for this kind of look:

Brooke's Budget Beauty: https://images.app.goo.gl/gqCMtNum35oU7AuF9

https://images.app.goo.gl/4pmAgNqaupxMMxgj9