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It’s pretty painful being an investor right now.

Interest rates are high. So are taxes.

That means you probably have to top up your investment property. The rent might not cover all the costs.

If you’re buying today, it could cost $350 to $550 a week.

So, you might be looking for ways to find extra cash.

Here are my top 10 ways to manage money.

#1 – Act as if you already own a rental property

You might be thinking about buying an investment property.

But worry about whether you can afford the top-up.

If that’s you. Act like you already own the property.

Set up an automatic payment of $350. Put it into a savings account every week.

That does 2 things:

  1. You prove to yourself (and the bank) that you can afford that top-up.
  2. You'll have money you can put towards your new rental property

#2 – Cancel monthly subscriptions

Lots of people sign up for streaming services and random apps. Then, forget about them.

The app companies then take your money once the free trial runs out.

If you’ve got an iPhone. Pull it out. Open settings. Click your Apple ID. Then, scroll down to subscriptions.


You can see everything you're currently paying for. If there’s something you don’t use – cancel it.

You can do something similar in some bank apps.

ASB’s app has a "card tracker”. This shows you all your subscriptions and who has your credit card details. Here’s mine –

Card Control 2

Anything you don’t like in your card tracker? Cancel it.

#3 – Invest less in KiwiSaver

Some investors decrease their KiwiSaver contributions. At least for a little while.

You might currently put in 10%. But your boss only puts in 3%. So you might go down to 3%, too. Just while interest rates are high.

If you’re on $100k, going from 10% to 3% means you have an extra $134 a week to play with.

Not the right move for everyone. But works for some people.

#4 – Increase your mortgage

I know this sounds weird. Why would I increase my mortgage if I’m struggling with high interest rates?

Often, debt soaks up a lot of our pay.

You might have a $10k hire purchase. That you’re paying back at $100 a week.

What if you increased your mortgage to pay off the debt?

You might get a lower interest rate. And you can spread that debt over a longer time frame.

In some cases, that could bring your weekly repayment down to $15 a week.

$85 extra a week freed up.

There are downsides to that. You’ll likely pay more interest over time.

That’s why investors who do this usually only do it for a little while.

Once interest rates come down, there’s more money to play with. So you start paying it off faster again.

Some people will do this just to get through.

#5 – Ask for a pay rise

Lastly, my favourite. Ask your boss for a pay rise.

It will surprise you. It often works.

A couple of investors I recently worked with got an extra $40k a year between them.

That doesn’t happen for everyone. But a $5k pay boost might mean you get an extra $80 a week after tax.

I always mention this one. Because people reply to this newsletter and tell me it works.

What if I can’t do any of these?

Not every tactic will work for everyone. That’s ok.

These aren't the only options to save (or make) more.

Listen to episode 1437 of the Property Academy Podcast. Ed and I discuss 10 ways you can save money (in 10 minutes).

Download 5

Andrew Nicol

Managing Director, 20+ Years' Experience Investing In Property, Author & Host

Andrew Nicol, Managing Director at Opes Partners, is a seasoned financial adviser and property investment expert with 20+ years of experience. With 40 investment properties, he hosts the Property Academy Podcast, co-authored 'Wealth Plan' with Ed Mcknight, and has helped 1,894 Kiwis achieve financial security through property investment.

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