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Introducing Hnry's Latest Allocation Additions

Round 2 of Allocations is here!

At Hnry, we’re always trying to expand the services that we offer to our customers. Launched in October, the Allocations feature has made it easy for earners of an independent income to work and live around potentially inconsistent earnings periods. With Allocations, you can set aside money to automatically be deducted from your income and transferred into different accounts, each time you get paid.

The Allocations feature has made it much simpler for Hnry customers to manage their money: we’ve already seen 35% of Hnry customers set up automatic contributions to their KiwiSaver funds, and roughly 10% allocate money to savings accounts of various uses, including travel, emergency and family funds – Hnry customers even set up Allocations to investment portfolios and charities. The astounding response to the feature got us thinking: we knew we could do more with the Allocations feature.

Over the holidays, where people might have a couple of weeks without pay, we saw that those inconsistent earning patterns added a great deal of stress and burden to what should be an otherwise relaxing time. People often tend to rack up debt at this time of year, trying to make ends meet, and that’s no way to start the New Year.

So we thought about ways in which we could expand our Allocations offerings and help further lift the burden – not just in planning for the future, but for managing the past as well.

Here are some of the new Allocations features that you can check out right now:

  • We’ve added ‘Code’ and ‘Particulars’ fields alongside the existing ‘Reference’ fields to NZ bank account Allocations. Now you can have more flexible payment options for who and how you want to pay off credit cards, past tax, utility bills – you name it.
  • Make historic tax payments and KiwiSaver contributions from before your time as a Hnry customer (contact the Hnry team for more info).

With regular expansions to our Allocations feature, we’re only continuing to make it as easy as possible for anyone to earn an independent income. By setting up regular “nest eggs” that will grow each time you get paid, we’re making it simpler for people with a flexible income to spend and earn with as much confidence as someone with a permanent or salaried job.

Planning for your future (and for your day-to-day) just got more accessible for everyone. With Hnry’s second round of Allocation additions, you can gather even more confidence that you can go out and contract and not be caught out financially at a time of relatively lower income.

DISCLAIMER: The information on our website is for general educational purposes only. It doesn't cover all situations and circumstances, and shouldn't be taken as direct tax advice. If you're looking for specific help with your taxes, join Hnry and our team of experts can provide you with assistance tailored to your business needs.

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