Where's My Money Season 4, Episode 1

Season Four of Where’s My Money?, now a multi-award-winning podcast, has arrived and we will share all the insights covered across the episodes by host Reagan White and his guests.

enable.me partners with rova to bring this podcast to life and stimulate the conversation about finances with everyday Kiwis. Where’s My Money? follows the story of Reagan – a man chasing the Kiwi Dream but feeling stuck living month-to-month – and his discussions with the experts about what he may be doing wrong and how to fix it.

One man. One million dollars of debt. One podcast to find a way out.

It’s a deep-seated fear that languishes at the back of many employees’ minds, that all of their hard work and progress will be erased by one word – redundancy.

Host Reagan White tackles this tricky topic by talking to Mike McRoberts, one of the many journalists, presenters, and employees who were impacted by the public end of Newshub in 2024.

This episode of Where’s My Money? also brings in enable.me financial coach Matt Buckeridge and AdviceFirst National Insurance Lead Willie Moala to provide practical advice on what to do if you find yourself in this position. Recruitment pro Tim Slyfield adds his two cents about making yourself employable throughout the job-seeking journey.

When the journalist becomes the news 

Mike McRoberts has four decades of journalism behind him and 20 years of being a public-facing newsreader. From warzones to the 6pm bulletin, even with this level of ‘famous in New Zealand,’ Mike still found himself facing redundancy with the shock end of Newshub.

He says, “people think that just because you’re well known, you’re financially bulletproof. You’re not. I still have a mortgage, I still have responsibilities. This was a huge change for me financially.”

The Newshub team had four months left to work out their contracts before they could claim redundancy. Mike shares that he walked around the newsroom and said to his coworkers, “we need to make sure that we are still putting out the best product we can. Because when we leave this place on the 5th of July, we want to leave with mana.”

Changing the narrative

Mike managed to get ahead of the story for himself, announcing a career pivot to focus on one of his passions – Kaupapa Māori – so much so that media reports changed to say he ‘resigned’ rather than being made redundant. It’s a powerful reminder that you can control your narrative, no matter how public the story becomes.

His is a story of triumph. Drawing on his journalism experience, his passion for te reo Māori, and strength from his family, he managed to score plenty of work engagements. He accepted a newly created role as Te Ao Māori Editor at NBR, alongside other speaking and writing engagements – successfully diversifying his source of income.

“I went from nearly unemployed to over-employed pretty quickly,” he says.

His advice for an everyday Kiwi? A whakatauki he cherishes from his exploration of te ao Māori: He ponga I no wai? In English, it means the anchor that holds you – Mike says when the seas rise up and try to pull you down, know what your anchors are.

“When things get rough, you need anchors: your whānau, your partner, your skills, your identity outside of work. That’s what keeps you above water when your income disappears.”

For Mike, it was a tough time – but also strangely freeing to not feel tied to just one role and one aspect of his identity any longer.

“It sounds strange, but I found an immense freedom once I stepped away. I get to work on what matters, say what I want, and build a future that isn’t tied to one job.”

Listen to – and watch – Mike McRoberts’ story on YouTube:

Getting on top of your finances after redundancy

enable.me financial adviser and coach Matt Buckeridge shares the tips he gives clients about what to do immediately following the news that their position is no longer needed.

The first five things you can do to get your financial bearings:

1. Take a moment to process what has happened – mindset is important.
2. Assess your financial position and ascertain how long your savings will last.
3. Review and reduce your expenses – sort out your cash flow.
4. Update your CV, get onto LinkedIn, tap into your networks, and start job searching.
5. Protect your long-term financial goals (negotiate mortgage payments, carefully consider a KiwiSaver savings suspension).

He says, “you’ve got to be confident in your ability to bounce back, get another role and move on. This could be the start of a great opportunity so sort of flip it on its head.”

Another proactive tip is to negotiate through the exit process – even when a redundancy package is not included in your contract. Matt says you can sometimes still come out the other side with extra pay or other benefits – but you’ll have to ask for them.

Good news – the job market is improving

There has been plenty of noise over the last year or two about how difficult the job market is for jobseekers. Some roles are getting hundreds, or even thousands, of qualified applicants. Of course, it is variable across the country depending on region and industry, but the job market has been feeling tough out there for many.

Tim Slyfield – Recruitment pro and Managing Director at Alexander James – joins the episode to share a message of relief. The job market is looking up, with more roles opening up on recruiters’ books.

He also warns about the ‘brain drain’ over the past few years – specifically with mid-level corporates aged around 30-45. A long list of people has jumped ship over to Australia, and he foresees a shortage of expertise in that salary-band range as a result.

It’s vital to know your career story and the value of your skillset.  Tim says that the “presentation piece,” is important when approaching a recruiter for help.

“When a candidate comes in and can actually tell their story, that storytelling piece is really important. The CV is obviously critical, but if they can tell a good story about their career then that’s gold.”

He also agrees with Matt that tapping into your network can be more productive than approaching a recruiter – even going as far as to recommend that if you have your eyes set on a particular company, go straight to the executive team and connect.

Building financial resilience in uncertain times

National Insurance Lead at AdviceFirst, Willie Moala, discusses redundancy cover and income protection – how they are different and what people can look for when considering them.

“Get some advice, there are so many different variables, so many different types of income protections and it’s really hard to try and navigate that yourself.”

A kneejerk reaction to losing your income is to cut the cost of insurance premiums, especially when you’re looking for ways to reduce your outgoings and stem the financial bleeding.

“Insurance is an easy thing to pick on. What we want to try and avoid at all costs is getting rid of the insurances or reducing it,” Willie says.

“If your situation is tough financially now, just think about how much worse it’s going to be if – all of a sudden while you are off work – you suddenly become sick, or it becomes a real catastrophe.”

He suggests weathering the storm with your insurance cover in place as long as possible – it is much more complex and expensive in the long run to re-apply for insurance than to keep it.

If your current insurance premiums aren’t manageable, another potential approach is to put your cover on hold, as opposed to cancelling or reducing your protection entirely.

If you need advice about your insurance cover, get in contact with an AdviceFirst Wealth Adviser via letstalk@advicefirst.co.nz or 0800 438 238.

Get the full insights from the experts: