If you’ve saved up a chunk of money (well done) and you don’t plan on touching it for a while (we’re impressed) then you could consider investing it in a term deposit, investment fund, or even your KiwiSaver account.
With term deposits you’ll earn a higher rate of interest than in a standard savings account, coupled with the assurance that the rate’s agreed upfront and locked in for the amount of time your money's invested for.
Investing in KiwiSaver or an investment fund generally have higher risks than term deposits, and the value of your investment can go up and down, but the potential for bigger returns on your money over the long-term is higher too.
It’s easy to feel overwhelmed by ‘grown-up’ stuff like saving for a home, or a retirement that seems a lifetime away. But as they say (whoever ‘they’ are), slow and steady wins the race.
These other articles have more ideas that could also help get you over the line when it comes to your savings goals.