The Happy Saver Top 10 Money Tips
Sep 17, 2017
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Welcome to my shortest blog post ever! I was out running in the hills with my dog this week and thinking, as I do. Having now written over 50 posts my thought was “that is a LOT of information to put out there”. I was wondering if people might want all of that info condensed down because the personal finance world can get kind of wordy? So I wrote a succinct list, using as few words as possible (which is hard for me), that encapsulates the rules I live by in one way or another every single day.
The Happy Saver Top 10 Money Tips
One
Consume less in order to always spend less than you earn. That way you will always be a saver.
Two
Take on as little debt as you possibly can and pay it back as fast as you possibly can. If you buy it, make sure you own it. Debt is no good.
Three
Have a rainy day fund of at least three months wages. And just to be clear - a holiday is not an emergency! Losing your job while on holiday, that is an emergency!
Four
Whether self-employed or employed join a KiwiSaver scheme with the lowest fees possible. Every year invest at least the minimum of $1042, that way the government will give you $521 for free.
Five
Actually read your credit card statement and pay it off in full every month.
Six
Have insurance, but only what you need. Change it when your needs change.
Seven
Buy Index Funds - ETFs. Why buy one share in one company when you can buy the whole market and spread your risk?
Eight
Know your net worth, to do this you need to budget. Otherwise, how do you know if you are getting ahead?
Nine
We work for many years of our lives. Change career if you are unhappy at work. No one likes hearing you whine about work.
Ten
Educate yourself about money and don’t take financial advice off people who have no money.
Next time you find yourself at Harvey Norman measuring up the latest TV, or you think you might put your KiwiSaver contributions on hold, or you dread Monday morning because you have to go to a job you don’t enjoy: REFER TO THE LIST. Are the decisions you are making today in the best interests of your future financial freedom?
