Why you should get prepared
We’ve all been caught in life’s unexpected downpours— a car breakdown, an appliance malfunction or a bill that's way bigger than normal. Whether you're on a tight budget or not, an unplanned expense can throw your financial goals off course.
That’s why it pays to be prepared. Keep reading for practical tips on building your emergency fund and how insurance can help keep you covered when the skies turn grey.
Build your rainy day fund
An emergency fund or your rainy day fund, is money set aside for life’s unexpected costs—like urgent repairs or surprise bills. It’s a separate account you only use when you really need it. While everyone's situation is different, a good goal is to save enough to cover three to six months of livings expenses. That said, even a little savings can make a big difference when the unexpected happens.
Work out what you need
Use our Rainy Day Savings Planner to figure out what’s right for you. It’ll help you estimate how much to set aside so you’re ready when the unexpected happens.
Set your goal
Once you know what you’re aiming for, set your goal with Goal Planner and start building your rainy day fund with confidence.
Start saving
Start making regular contributions to your rainy day fund — automated transfers can help you save regularly without even thinking about it.
Insure the things that matter to you
It's a good idea to insure the things you value, like your home, contents, car, life, income and health. What you own can add up to a lot, that's why it's important to have the right level of cover and regularly check how much you actually need.
Cover your 'stuff'
It's wise to protect your home and personal belongings against things like accidental damage, fire and theft.
Home and contents insurance
Car insurance
Cover your lifestyle
Consider cover that kicks in if you were to lose your job, couldn’t work, or for your family if you pass away.
Life and income insurance
Health insurance
Other actions to build better financial wellbeing
Master your day to day
Organise your money and set a plan.
Get on top of debt
Find new ways to stay on top of debt.
Work towards your savings goals
Get saving savvy and grow your money.
Invest in your future
Build towards your retirement.