Debt is bad. Saving is good. Or so we are told. The government has been squirrelling taxpayers money away to invest via the Superannuation Fund. It has also been squirrelling away money from ACC levies to invest for the future.
To encourage us to save, most New Zealanders have had at least 3% of their weekly wages spirited away into a Kiwisaver fund. Employers have contributed another 3% per week.
It is doubtful whether anyone really knows what happens to all this money when it leaves our pockets / pay packets. The main goal is to accrue interest, use the money to make more money. This used to be called usury and was considered immoral in many religions, including Christianity. Continue reading