How financially literate are you? Research has shown that while a lot of New Zealanders are “overconfident” with their money, many people are lacking financial literacy skills, and it could be costing them in the long run.
The good news is that there is now a wide range of tools available, designed to help boost your financial literacy. Here are some of the options.
LifeDirect’s Content Hub
LifeDirect has its own Content Hub that will probably answer almost any question you have about personal risk insurance, from what the various types of insurance actually are to how much you might need and what options could be considered for kids. It’s a great place to start if you have any burning insurance queries.
Sorted
Sorted is run by the Commission for Financial Capability and offers a range of tools, calculators and guides designed to help you get in control of your money, including what it says is a proven system of six steps to help people “leave their money worries behind”. It’s Government-funded and membership is free.
Good podcasts
Simran Kaur and Sonya Gupthan started their Girls that Invest podcast in 2020 as a way to help other young women come to grips with money issues. It’s now popular around the world and tackles personal finance issues as well as investing questions. Another interesting podcast is Cooking the Books, hosted by journalist Frances Cook. Each week, she tackles a different money problem, and regular listeners get a good grounding in a wide range of financial topics.
Keep in mind that both of these podcasts talk about investing, but they only provide really general advice and guidance. If you need personalised advice, we recommend finding a good investment adviser: there are many around New Zealand helping people like you save for the future!
Money courses
Open Polytech runs a 16-week course of about 10 hours a week that covers things like personal income decision making, budgeting, problem solving and interpreting statistics. It’s designed to teach you about budgeting and managing money. No textbooks are required and it can be done from home. Te Wananga o Aotearoa also offers financial skills courses via distance learning.
From Renter to Owner
Published in 2023, this is a guide to help anyone who wants to get into the property market for the first time. It covers everything from how to apply for a home loan to what to look at in an open home and what happens on settlement day. Once again, this is a general guide to house-buying: if you want specific mortgage guidance, make sure you contact a mortgage adviser.
Like to talk?
If your new reading or listening material has got you thinking about your finances and you are wondering about your insurance situation, LifeDirect advisers are on hand to offer advice. Whatever stage you’re at, we’re here to help. Give us a call on 0800 800 400 or drop us an email to talk about what we can offer you.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.
