Why you should get prepared
We've all had it happen - a car breakdown, an appliance malfunction or a bill that's way bigger than normal. Whether you're on a tight budget or not, the extra few hundred (or thousand) dollars when you’re not prepared can derail all your financial plans.
Read on to find our tips for setting up an emergency fund, and how insurance can help.
Set up an emergency fund
An emergency fund is designed to be just that - a bank account you've put money into and only use 'in case of emergencies'. How much to put aside is different for everyone. Follow our steps to set up yours:
Work out what you need
Use our planner to work out how much you should be aiming to set aside for emergencies.
Rainy day savings planner
Hit your goal
Once you've hit your goal you can rest easy knowing you're prepared. Choose to keep adding to it, reward yourself or save towards another goal.
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.