14 October 2018

    Females: Now is the time to take control

    LeeAnne Scarth shares the advice she gives her daughters and clients

    It's time ladies, young and old, to take ownership of your money and future savings. For too long we have left this decision to our men folk to deal with, but times they are a changing and it’s now up to us to make the move to educate ourselves and our children on the importance of having a backup plan, a don’t ask plan, or simply an escape plan. 

    • The first step is understanding your money and how the small difference of not having that coffee today can make to your future.

    • Next check your KiwiSaver, where is it, what strategy are you on and when did you last review it? If you don’t know ask, there are a number of great independent websites out there that can help. If you don’t know who your KiwiSaver is with then contact the IRD and ask them then take control and call your provider for a review. Most of them will happily talk you through your options and help you with making the right choices for you.

    • Then look at a savings plan, not a in the bank where you can move it online to cover that round of drinks on a Friday night. Rather a set and forget investment that works quietly in the background creating better wealth for your future. For as little as $ 100 a month or $3.30 a day, you can invest in a Managed fund. This gives you access to a number of investment options locally and internationally from high risk to low risk and everything in between.

    You don’t need to understand share markets or talk the jargon, you don’t need a university degree or a six figure income to take control of your future. You just have to acquire the necessary information, take control of your money and then take action.

    Remember knowledge is power, own it.