Tamsyn Parker: Do you have the right attitude towards money?

Weighing up the option of saving versus spending can be a hard choice when young. Photo/Getty Images.

Diana Clement's article on a couple of young people getting on to the property investment ladder early and wanting to gain financial freedom has certainly divided readers.

See her piece and the range of comments here.

Those commenting swing from people who believe rental property investors are taking away homes that first home buyers could buy to congratulating the youngsters for having a can-do attitude.

Regardless of your views on them buying rental properties - and many thought they should have been investing in businesses not property - it's important to encourage young people to have a positive attitude towards money.

Saving to buy something takes commitment and often involves going without other things - that can be particularly hard for young people who face pressure from their peers to go out and party or spend up large on the latest gadgets or fashionable clothes.

Learning how to do this at a young age can teach really valuable lessons for later in life.

The alternative is to borrow money and be on the back foot.

It's too easy to get into debt buying a phone you can't make repayments on or a car with high interest finance.

FIRST HOME
For those looking to get into their first home KiwiSaver Q&A columnist Helen Twose has some great tips on how to use KiwiSaver.

Most people seem to be aware they can use the retirement savings scheme to help buy their first house but don't know what money they are allowed to take out.

Twose also highlights the importance of telling your KiwiSaver provider you are house hunting.

Some buyers may also be able to get the first home buyers subsidy and if they aren't eligible for that could tap into the Welcome Home Loan scheme run by some banks and other mortgage lenders.

You can also check out four opinions from property and economic experts on whether now is a good time to buy property in Auckland here.

FOREIGN EXCHANGE
For many young people one way to save money and get on the property ladder is to work overseas for a while.

Mary Holm's column has some tips on how to the send the money home or overseas while reducing the foreign exchange risk.

Holm also tackles the issue of people who have lived overseas or are foreigners living in New Zealand and how an overseas pension works with New Zealand Superannuation.

The system is designed to ensure people can't claim a government pension in more than one country and double dip as such.

Check out her column here.

What do you think?