How financially resilient are you?
Lockdowns are a shock to the system for every almost aspect of life, including making us all think hard about our incomes and expenses. Katrina Shanks of Financial Advice NZ says this is a great time to build ‘shockproof’ finances:
- Have a financial buffer
- Stay on top of debt
- Try to save every month
- Focus on building assets, not buying consumables
“My challenge to you is to start building your financial resilience – one pay day at a time,” says Katrina. “With Covid as close as it is to us, who knows when we might need a buffer to see us through.”