Making Cents

This episode was originally part of the Market Memo newsletter, where you learn about sharemarket investing every week. You can subscribe to that, here https://marketmemoweekly.substack.com/

It’s never been easier to start investing. And that’s both brilliant, and part of the problem.

Between constant headlines, market swings, hot takes on social media, and apps that let you trade with a swipe, investing has turned into a psychological minefield.

Now, for most people, the biggest risk to their money isn’t the market. It’s their own brain.

In this episode of Making Cents, it’s the seven common mental traps that trip investors up.

We’ll cover:

• Why losses hurt so much more than gains (and what that makes people do)

• How herd behaviour and FOMO sneak into otherwise sensible decisions

• Why sticking to what feels familiar can cost you real growth

• The mental shortcuts that make short-term noise feel more important than long-term plans

• And the simple systems that help emotions stop driving the car

This episode isn’t about suppressing your feelings or becoming some emotionless investing robot.

It’s about understanding how your brain works, and putting smart guardrails in place so it doesn’t sabotage your future.

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #InvestingPsychology #BehaviouralFinance #MoneyPsychology #InvestorMindset #MentalTraps #Investing

• 00:00:00 Introduction
• 00:02:18 Loss aversion: the pain hits harder than the pleasure
• 00:03:31 Overconfidence bias: the 'I can time the market' illusion
• 00:05:21 Herd behavior and FOMO: when everyone's buying, beware
• 00:07:13 Home bias: comfort can cost you
• 00:08:31 Confirmation bias: the echo chamber effect
• 00:09:39 Recency bias: thinking yesterday predicts tomorrow
• 00:10:48 Present bias: the 'now' trap
• 00:12:19 Wrapping up: stop emotions from driving the car
• 00:13:00 Outro

If you’ve ever wondered what’s actually going on behind the scenes of the 1%, beyond the headlines, Instagram posts, and glossy business profiles, this episode pulls back the curtain.

Because beneath the public image of wealth is usually a highly deliberate money strategy. And it doesn’t have to be exclusive to the ultra-rich.

In this episode of Making Cents, Frances Cook speaks with Andrew Clements, a private wealth and succession lawyer who works with some of New Zealand’s wealthiest families. Andrew spends his days helping high-net-worth and ultra-high-net-worth clients build wealth, protect it, and stop it being blown up by one bad decision, whether that’s an investment mistake, poor structure, or family conflict.

What he’s learned may surprise you.

We talk about:

• How wealthy families think in decades, not years

• Why protecting money often matters more than chasing returns

• The “guardrails” the wealthy put around their money, and their families

• Why the rich often sell when others are rushing in

• The risks that don’t show up on balance sheets, including family and succession risk

• How downturns are treated as opportunity, not panic

• And which wealth strategies are realistic for everyday NZers to copy

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #GenerationalWealth #WealthBuilding #WealthManagement #FinancialLiteracy #SuccessionPlanning #ImpactInvesting #FinancialAdviser #PrivateWealth #HighNetWorth #NZBusinessOwners

• 00:00:00 Introduction
• 00:02:13 Meet Andrew Clements: private wealth and succession lawyer
• 00:03:39 Money talks, but wealth whispers
• 00:04:25 Values over dollars: what wealthy families actually prioritize
• 00:08:19 The long game: how the wealthy build and protect assets
• 00:09:44 The Lithuanian entrepreneur who didn't get greedy
• 00:12:38 Investing in yourself: the best investment you can make
• 00:18:43 Philosophy breeds methodology: finding advisors who understand you
• 00:22:12 How the wealthy invest differently: shares over property
• 00:27:24 Impact investing: making money and making a difference
• 00:29:22 Family risk: how inheritance can become poison
• 00:33:16 Beating the three-generation curse
• 00:37:20 The hundred dollar note on the dinner table
• 00:42:13 Can average people become wealthy? Yes, here's how
• 00:44:39 Outro

Everyone says you should start investing in the stock market, but how do you actually do that?

Time for a quick roadmap to get you started. Whether you’re starting from scratch, or you’ve been investing for a while but you’re not sure you’re nailing it, this is the live session to help you feel like the confident investor you should be.

With top industry experts

-Kernel chief executive Dean Anderson

-Stuff money editor Damian Venuto

-Massey University Professor Claire Matthews

As we answer questions live, we’re talking about what actually matters when investing in shares in 2026, how to get started without overthinking it, building a system that lets you keep investing no matter what, and getting under the hood of what’s happening in the sharemarket right now.

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook

Are home renovations actually an investment, or just an expensive way to make your house nicer to live in?

In this Ask the Experts mailbag episode, it’s time to answer the question many are scared of: have I overcapitalised my home?

Which renovations genuinely add value, and which ones don’t?
Is your own home an investment, or a lifestyle choice?
And if you’ve already spent the money, should you even consider an investment property?

To break it all down, I’m joined by Vanessa Williams from http://realestate.co.nz who brings the data on what actually moves house prices in New Zealand: from extra bedrooms and bathrooms, to the renovation traps that don’t stack up financially.

We cover:
– When renovations can increase resale value, and when they won’t
– The real difference between lifestyle upgrades and wealth-building moves
– How to tell if you’ve overcapitalised (and what to do if you have)
– Whether using home equity to invest in property is still an option
– How to think about your home versus a true investment property

If you have a letter you’d like us to answer, please send it through to [email protected] (mailto:[email protected]) and you might feature on our next episode!

Follow me everywhere!

Facebook / https://www.facebook.com/FrancesCookNZ

Instagram / https://www.instagram.com/francescooknz

TikTok / https://www.tiktok.com/@francescooknz

Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #NewZealandProperty #PropertyMarket #PropertyInvestment #HomeRenovation #RenovationROI #Overcapitalising #HomeEquity #InvestmentProperty #FirstHomeBuyer #DIYRenovation #PropertyValuation

• 00:00:00 Introduction
• 00:01:14 Listener letter: renovated but worried about overcapitalizing
• 00:02:18 What renovations actually add value vs lifestyle upgrades
• 00:03:30 The data: how much value each bedroom adds
• 00:05:28 Kitchens and decks: investment or lifestyle choice?
• 00:06:46 How to know if you've overcapitalised
• 00:08:48 Is your home an investment? The debate
• 00:12:25 Using home equity to buy an investment property
• 00:14:57 Next steps: gathering information and exploring options
• 00:17:28 Outro

Quick-fire tips and tricks for feeling more in control of your money in 2026.

Frances Cook joins the TVNZ Breakfast team to talk about it, replayed here with permission.

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Gold and silver prices are booming, and it’s being driven by something deeper: how people are feeling about their money.

When trust starts to break down, investors don’t just talk about it, they move their money.

Darcy Ungaro, a financial adviser and host of the NZ Everyday Investor, is seeing more New Zealanders actively asking about gold, silver, Bitcoin, and other alternatives. It’s not out of greed, but out of caution.

In this episode we talk about:

• Why gold and silver prices are rising

• Whether silver is a good investment, or just dangerously volatile

• The real risks behind the silver price surge (and why it can “rip your face off” if you get it wrong)

• Gold vs silver: how they behave differently in uncertain markets

• How to invest in gold and silver ETFs in NZ, versus holding physical metal

• How to think about allocation, not hype, when markets feel unstable

If you’ve been wondering whether gold or silver belongs in your portfolio - or why so many people are suddenly asking the question - this episode will help you make sense of it.

Follow me everywhere!

Facebook / https://www.facebook.com/FrancesCookNZ

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #Silver #Gold #Bitcoin #AlternativeInvestments #PreciousMetals #Investment

• 00:00:00 Introduction
• 00:02:09 Meet Darcy Ungaro: financial adviser and everyday investor
• 00:04:04 The rise in precious metals: what's driving it?
• 00:15:02 Gold and silver during global instability
• 00:17:05 Silver: the volatile cousin of gold
• 00:27:14 Darcy's biggest mistake: trading silver with 50X leverage
• 00:30:15 Gold vs silver: similarities and differences
• 00:33:49 Bitcoin as digital gold: does the comparison hold up?
• 00:41:54 How to allocate: the 80/20 portfolio approach
• 00:48:03 Where to start: getting into gold and silver without losing your face
• 00:51:10 Outro

Opposites attract, until it comes to money.

This week’s listener says she’s a saver, her partner is a spender, and every attempt to “get serious” about their finances ends the same way: frustration, guilt, splurging out of spite, and a plan that falls apart by March.

Instead of moving forward, they’re cancelling each other out, and it’s starting to wear them both down.

In this Ask the Experts episode, EnableMe head strategic coach Katie Wesney breaks down why saver–spender dynamics are so common, and why money fights are usually about values, security, and behaviour, not just dollars.

We talk about:

• Why saver–spender couples clash, even when they want the same life

• How different money personalities (savers, spenders, upholders, questioners, rebels) approach rules, goals, and plans

• Why behaviour matters more than the “perfect” financial strategy

• How starting with a shared vision changes the conversation

• Practical systems that reduce friction, including automation and separate “no-questions-asked” spending

• How couples can use their differences as strengths instead of sabotage

If you have a letter you’d like us to answer, please send it through to [email protected] (mailto:[email protected]) and you might feature on our next episode!

Follow me everywhere!

Facebook / https://www.facebook.com/FrancesCookNZ

Instagram / https://www.instagram.com/francescooknz

TikTok / https://www.tiktok.com/@francescooknz

Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #SaverVsSpender #CouplesAndMoney #MoneyInRelationships #MoneyPersonalities #MoneyMindset #BudgetingAsACouple #JointAccounts #FinancialAccountability #MortgageTips #PayOffMortgageFaster #FinancialFreedom

• 00:00:00 Introduction
• 00:01:09 Listener letter: opposite money styles
• 00:01:48 "Money fights aren’t about money” (trust, values, security)
• 00:03:14 How to start the conversation: vision, numbers, timeframes
• 00:04:24 Money personality types: saver / shopper / plodder
• 00:05:34 Gretchen Rubin tendencies: upholder, obliger, questioner, rebel
• 00:11:08 Saver vs shopper
• 00:13:24 Systems for couples: joint vs separate money + autonomy
• 00:15:58 Where to from here?
• 00:16:19 Outro

Why do so many smart, motivated people struggle to stick to money goals?

You set the intention to save more, invest properly, or finally get organised, and then, a few weeks or months later, it falls apart.

It’s not that you don’t care or don’t know what to do. It’s that your mindset and financial habits get in the way.

In this episode of Making Cents, financial journalist Frances Cook is joined by Dom Vettise, a clinical and performance psychologist who specialises in helping people move from “pretty good” to world-class performance.

Dom has worked in some of the most high-pressure environments imaginable, including with Olympic athletes, New Zealand Rugby, and the All Whites. These people who simply have to perform when the stakes are highest.

What’s surprising is how directly that same psychology applies to everyday money decisions.

The mental habits that determine whether an athlete performs under pressure are the same ones that shape your financial habits, from sticking to a savings plan, to following an investment strategy, to breaking the cycle of “I’ll start again next month.”

In this conversation, we unpack:

• Why mindset matters more than motivation when it comes to money

• How stress and pressure sabotage financial decision-making

• The role of perfectionism in derailing progress

• Why self-sabotage shows up just as you’re starting to do well

• Practical ways to take control of your mental habits so your money goals actually stick

Follow me everywhere!

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Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #Investing #SavingMoney #GoalSetting #Mindset #HighPerformance #SportsPsychology #PerformancePsychology #NewZealand #Olympics

• 00:00:00 Introduction
• 00:02:12 Meet Dom Vittice: from forensics to Olympic psychology
• 00:03:20 What it's really like working with elite athletes
• 00:07:26 Success leaves clues: learning from what goes right
• 00:11:29 The framework: understand me, be me, stay me
• 00:13:32 Reframing pressure: distress vs eustress
• 00:16:44 Breathwork and staying present under pressure
• 00:22:45 Mental filtering and disqualifying the positive
• 00:24:09 Staying motivated on long-term goals
• 00:28:54 The MILK reflection tool: memory, improvement, learning, courage
• 00:31:22 Courage requires fear: normalizing the hard stuff
• 00:40:56 Radical self-responsibility without self-blame
• 00:43:57 Self-compassion vs self-criticism in setbacks
• 00:45:40 ACT framework: acknowledge, calm, towards
• 00:47:44 The number one skill: attention
• 00:50:06 Perfectionism and good enough
• 00:52:28 Outro

Time to talk about what will actually move the needle for you in 2026, and help you feel more confident with your money.

Whether it’s property, investing, KiwiSaver, or just feeling calmer about the decisions you’re making, we’re covering the things you actually need to know.

We’ll be talking about what an election year really means for your money, how to think about the economy as it starts to turn, where people accidentally trip up during this phase, and how to set yourself up so your money feels easier, not harder, in 2026

Frances Cook brings in her favourite experts to tackle the different areas of your money that you should know more about:

• realestate.co.nz's Vanessa Williams, to answer your burning questions about the property market

• TVNZ business reporter Jason Walls, for the big picture on the economy and political forces in play this year

• EnableMe head strategic coach Katie Wesney, for the investing and KiwiSaver insights you need to know

Follow me everywhere!

Facebook / https://www.facebook.com/FrancesCookNZ

Instagram / https://www.instagram.com/francescooknz

TikTok / https://www.tiktok.com/@francescooknz

Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

Money panic doesn’t always come from not having enough. Sometimes it comes from suddenly having far more than you ever expected - $8 million more, to be exact.

This week’s Ask the Experts letter comes from a couple who spent 40 years dairy farming, living with constant debt and tight cashflow. Now they’ve sold the farm and their financial reality has flipped overnight.

A dream problem? Maybe. But sudden wealth is notoriously risky.

Will White from Heartland Bank is in the expert hotseat, to talk about how you protect a huge cash balance, avoid rushing into bad decisions, and turn a once-in-a-lifetime payout into a secure, comfortable retirement.

If you have a letter you’d like us to answer, please send it through to [email protected] and you might feature on our next episode!

Follow me everywhere!

Facebook / https://www.facebook.com/FrancesCookNZ

Instagram / https://www.instagram.com/francescooknz

TikTok / https://www.tiktok.com/@francescooknz

Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe

This podcast was filmed & produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

#MakingCents #FrancesCook #MoneyMindset #WealthManagement #RetirementPlanning #FinancialAdvisor #TermDeposit #Windfall #SuddenWealth #ScamAwareness